We’re always looking to unlock more value for traders. Today, we’re pleased to announce an increase in the risk limits on our ETHUSD swap – a small but mighty change that will make it even more capital efficient to maintain positions of 50 XBT or more on the product.
The increase in the ETHUSD swap risk limits – from 50 to 75 XBT, effective 3 May 2021 at 08:00 UTC – follows our similar tweak on the XBT futures contracts. We heard a lot of positive feedback from our users on that, which is a big reason why we’ve decided to make this change.
Here’s what it means for BitMEX users:
First, there are no changes being made to any of our Base Initial Margin or Base Maintenance Margin rates – this change relates to the size of position to which those rates apply. Also, everyone with positions equal to or smaller than 50 XBT will continue to have the same market-leading margin requirements as before.
Here’s where the change comes in. From 3 May at 08:00 UTC, those who have ETHUSD Swap positions greater than 50 XBT will immediately be eligible for lower margin requirements.
Here’s a quick summary of changes being implemented on 3 May:
- All users:
-
- Base Risk Limit and Step on ETHUSD Swap will increase from 50 XBT to 75 XBT.
- Existing orders and trades will be unaffected.
- Users with positions greater than 50 XBT:
-
- Users with positions over 50 XBT will be eligible for lower margin requirements on ETHUSD Swap, as the change lowers the required Initial Margin and Maintenance Margin for most positions above 50 XBT (but does not change any of our Initial Margin or Maintenance Margin rates).
- Users with risk limits set at 100 XBT will see their risk limit automatically increased to 150 XBT. If you fall into this category but have positions at or below 75 XBT, you will be able to manually lower your risk limits back to 75 XBT to enjoy smaller margin requirements.
- The same procedure (manually lowering risk limits to enjoy smaller margin requirements) will be available to users in higher risk limit tiers.
- The lower margin requirements described above only apply when the risk limit is lowered manually.
All of the risk limits on the BitMEX platform are determined by contract. Here’s what the risk limits on ETHUSD Swap look like as of today’s publication date:
Current Risk Limits for ETHUSD Swap (ending 3 May at 08:00 UTC)
|
Risk Step |
Risk Limit (XBT) |
Min IM |
Max Leverage |
MM |
|
0 |
50 |
2.00% |
50.0 |
0.70% |
|
1 |
100 |
2.70% |
37.0 |
1.40% |
|
2 |
150 |
3.40% |
29.4 |
2.10% |
|
3 |
200 |
4.10% |
24.4 |
2.80% |
|
4 |
250 |
4.80% |
20.8 |
3.50% |
And here’s what they will look like effective 3 May at 08:00 UTC (this update is now live in Testnet):
New Risk Limits for ETHUSD Swap (beginning 3 May at 08:00 UTC)
|
Risk Step |
Risk Limit (XBT) |
Min IM |
Max Leverage |
MM |
|
0 |
75 |
2.00% |
50.0 |
0.70% |
|
1 |
150 |
2.70% |
37.0 |
1.40% |
|
2 |
225 |
3.40% |
29.4 |
2.10% |
|
3 |
300 |
4.10% |
24.4 |
2.80% |
|
4 |
375 |
4.80% |
20.8 |
3.50% |
We know that the more we listen to our traders, the better informed we’ll be to make changes like these that are beneficial for all. If you have any questions about this change, suggestions, or feedback, please reach out to Support.
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