The SUI token is the Sui platform’s native asset. Sui is a smart contract platform maintained by a permissionless set of validators which offers scalability and unprecedented low-latency for common use cases, ranging from gaming to retail payment at physical points of sale.
Starting today, 3 May 2023, BitMEX traders will be able to long or short SUI via two new listings – SUIUSD and SUIUSDT. The contracts will begin trading after 1200 UTC, as soon as the underlying indices are stable.
The best thing about trading these SUI listings on BitMEX? Users can enjoy up to 50x leverage and one of the highest max position sizes in the industry.
For the lowdown on these listings, read on.
If you haven’t yet signed up for a BitMEX account, you can do so here.
SUIUSD Quanto Contract Specs
As with all quanto contracts, the SUIUSD product has a fixed Bitcoin multiplier, regardless of the SUI/USD price. This allows traders to long or short the SUI/USD exchange rate without ever touching SUI or USD.
Traders can post margin in XBT, and earn or lose in XBT as the SUI/USD rate changes.
This quanto risk premium may be one of the factors that results in the SUIUSD swap trading at a premium/discount to the SUIUSD spot price. For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our SUI listing:
- Symbol: SUIUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT Contract Value: SUIUSD Price * Bitcoin Multiplier (1,000 Sat / 1 USD)
- Underlying: .BSUI
- Max Leverage: 50x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 2.00%
- Base Maintenance Margin: 1.00%
You will be able to trade the SUIUSD perpetual contract here, or check out the full contract specs here.
SUIUSDT Linear Contract Specs
SUIUSDT is a linear perpetual swap, margined in USDT. This allows users to gain exposure to the price of the SUI token and trade it with leverage, without needing to have SUI holdings.
Key contract details for our SUI token listing:
- Symbol: SUIUSDT
- Margin Currency: USDT
- Contract Size: 0.001 SUI
- Lot Size: 100
- Minimum Trade Amount: 0.1 SUI
- Underlying: .BSUIT
- Max Leverage: 33x
- Risk limit: 1,000,000 USDT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 3.00%
- Base Maintenance Margin: 1.50%
You will be able to trade the SUIUSDT perpetual contract here, or check out the full contract specs here.
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In the meantime, if you have any questions please contact Support.
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