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cryptoJun 15, 2026, 12:00 AM

SPCXUSDT Converts to a Regular Equity Perpetual

BitMEX has converted the SPCXUSDT perpetual contract from pre-IPO to standard equity perpetual following SpaceX's Nasdaq listing on 16 June 2026, with updated margin requirements and a new index construction.

BitMEX has converted its SPCXUSDT perpetual contract from a pre-IPO instrument to a standard equity perpetual effective 16 June 2026 at 12:00 UTC, following the listing of SpaceX (ticker: SPCX) on Nasdaq.

The conversion brings several changes to the contract's specifications. The base initial margin has been lowered from 20.00% (5x leverage) to 5.00% (20x leverage), while the base maintenance margin has been reduced from 10.00% (10x) to 2.50% (40x). The risk limit has been increased from 50,000 USDT to 150,000 USDT. Funding, which was previously fixed at 0%, will now resume at each eight-hour interval.

The underlying index for the perpetual, .BSPCXT, has been reconstructed using real-time spot prices from multiple sources. The new weights are: Chainlink (SPCX/USD, 49.5%), Pyth (Equity.US.SPCX/USD, 49.5%), and BitMEX's own SPCXUSDT order book (1%). The mark price will be calculated using the FairPriceStox Mark Method.

BitMEX warned that significant price volatility may occur at the moment of conversion, as the pre-IPO mark price could differ materially from the newly formed index and SpaceX's IPO price. The exchange advised traders to review their open positions and margin levels ahead of the change.

SpaceX, founded in 2002 by Elon Musk, is a private American spacecraft manufacturer and launch service provider headquartered in Hawthorne, California, with the stated goal of reducing space transportation costs and enabling Mars colonisation. The company's stock now trades on Nasdaq under the ticker SPCX.

Source: BitMEX