BitMEX lists Solana (SOL) perpetual contract with up to 33x leverage

BitMEX lists Solana (SOL) perpetual contract with up to 33x leverage

Crypto derivatives exchange BitMEX, announced today the summer rollout of listing 10 new products has begun; starting with – Solana (SOL).

The SOLUSDT Perpetual Swap contract with up to 33x leverage will go live at 04:00 UTC on Tuesday, June 1st, 2021; and is visible now testnet.

Like all BitMEX quanto contracts, the SOLUSDT product will have a fixed Bitcoin multiplier regardless of the Tether/Solana price. This allows traders to long or short the SOL/USDT exchange rate without ever touching either SOL or USDT.

Traders post margin in XBT and earn or lose XBT as the SOL/USDT rate changes. This quanto risk premium may be one of the factors which result in the SOLUSDT swap trading at a premium/discount to the SOLUSDT spot price.

Contract Details:

  • Symbol: SOLUSDT
  • Bitcoin Multiplier: 0.00001 XBT (1,000 Satoshis)
  • XBT Contract Value: SOLUSDT Price * Bitcoin Multiplier (1,000 Sat / 1 USDT)
  • Underlying: .BSOLT
  • Max Leverage: 33x
  • Maker Fee: -0.025%
  • Taker Fee: 0.075%
  • Base Initial Margin: 3.00%
  • Base Maintenance Margin: 1.50%

The testnet contract will be visible on the platform from 04:00 UTC on 31 May 2021 as Unlisted, 24 hours before trading starts at 04:00 UTC on 1 June 2021.

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