BitMEX Testnet is a great environment to test trading strategies without using real funds. As part of regular housekeeping and to align with contracts listed on the BitMEX platform, we will delist and settle the XBTJPY and XBTKRW contracts on Testnet on 26 February 2021 at 12:00 UTC. For those who are interested in how our delisting process works, both for the trading engine and Testnet, this is a good opportunity to witness it in action.
According to the standard practice described in our Exchange Guide, the contracts will be settled early at 12:00 UTC on 26 February 2021 (“Tsettle”).
Early settlement will use the following Settlement Price Indices:
.BXBTJPY30M for XBTJPY
.BXBTKRW30M for XBTKRW
The timeline for the delisting process will be as follows:
The XBTJPY and XBTKRW contracts will trade as normal until 04:00 UTC on 26 February 2021 (“Tstart”)
At Tstart 04:00 UTC on 26 February 2021:
- The Funding Rates, F0,will be calculated as normal using prices from the previous 8 hours
- After Tstart, the Funding Rate will no longer be calculated and the next Funding Rate set to 0
- The XBTJPY and XBTKRW Contract Specification pages will display early settlement information
At Tsettle 12:00 UTC on 26 February 2021:
- The XBTJPY and XBTKRW contracts will expire, all trading will cease, and all open orders will be cancelled
- Funding, calculated using F0, will be exchanged (longs pay shorts if F0 > 0 and shorts pay longs if F0 <0)
- All open positions in XBTJPY will be closed out using .BXBTJPY30M as the Settlement Price
- All open positions in XBTKRW will be closed out using .BXBTKRW30M as the Settlement Price
- There will be no fees charged for settlement
- Once a contract has expired, the lifetime profit and loss of that contract will be added to the user’s Bitcoin balance and this contract will no longer appear on the Positions section
Thank you for trading with us and, as always, if you have any questions please contact Support.
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