A new perpetual contract – XAUtUSD – featuring XAUt (Tether Gold), will be available to trade on BitMEX tomorrow, with up to 25x leverage.
Trading for XAUtUSD will start at 04:00 UTC on 18 April 2024. You will be able to trade the new contract here.
For the lowdown on the latest listings, read on.
If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for verified users- you can register here.
XAUtUSD Contract Specs
As with all quanto contracts, the XAUtUSD product has a fixed Bitcoin multiplier, regardless of the XAUt/USD price. This allows traders to long or short the XAUt/USD exchange rate without ever touching XAUt or USD.
Traders can post margin in XBT, and earn or lose in XBT as the XAUt/USD rate changes.
This quanto risk premium may be one of the factors that results in the XAUtUSD swap trading at a premium/discount to the XAUtUSD spot price.
For an explanation of the same concept, check out this blog post referencing ETHUSD.
Key contract details for our XAUt listing:
- Symbol: XAUtUSD
- Margin Currency: XBT
- Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
- XBT Contract Value: XAUtUSD Price * Bitcoin Multiplier (100 Sats / 1 USD)
- Underlying: .BXAUT
- Max Leverage: 25x
- Risk limit: 50 XBT
- Maker Fee: 0.02%
- Taker Fee: 0.075%
- Base Initial Margin: 4.00%
- Base Maintenance Margin: 2.00%
You will be able to trade the XAUt perpetual contract here, or refer to the full contract specs here.
About XAUt, the Tether Gold Token
Tether Gold (XAUt) is a digital asset backed by physical gold, offering a blockchain-based way to buy, hold, and transfer gold ownership. Each XAUt token corresponds to one troy ounce of real gold, securely stored in Swiss vaults. This process, underpinned by blockchain technology, guarantees a transparent and unalterable record of ownership. This innovation in gold investment allows investors to buy, hold, and transfer fractional amounts of gold with ease, increasing flexibility and liquidity compared to conventional gold investments.
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