Do you have fresh powder? You better hope so, because the AVAX perp is now on BitMEX.
With up to 20x leverage available, the AVAXUSD Perpetual Swap contract went live at 04:00 UTC on 29 September and is available to trade on BitMEX now.
It’s a great time to join BitMEX, with excellent platform performance alongside top tier liquidity and security. Sign up for an account here. Users can also trade on the go with BitMEX Mobile.
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More Details
As with all quanto contracts, the AVAXUSD product will have a fixed Bitcoin multiplier regardless of the USD/AVAX price. This allows traders to long or short the AVAX/USD exchange rate without ever touching either AVAX or USD.
Traders post margin in XBT, and earn or lose XBT as the AVAX/USD rate changes. This quanto risk premium may be one of the factors which results in the AVAXUSD swap trading at a premium / discount to the AVAXUSD spot price – see our blog post explaining the same concept for ETHUSD.
Key contract details:
- Symbol: AVAXUSD
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: AVAXUSD Price * Bitcoin Multiplier (1,000 Sat / 1 USD)
- Underlying: .BAVAX
- Max Leverage: 20x
- Maker Fee: -0.01%
- Taker Fee: 0.05%
- Base Initial Margin: 5.00%
- Base Maintenance Margin: 2.50%
If you have any questions, please contact our Support team who will be happy to help.
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