Trade FX Perpetual Swaps 24/7 with Crypto
BitMEX introduces six FX perpetual swap contracts allowing traders to use crypto as collateral for major forex pairs with up to 100x leverage and no overnight swap fees.
BitMEX has launched FX Perpetual Swaps (FX Perps), enabling traders to speculate on major foreign exchange pairs using cryptocurrency as collateral, the crypto derivatives exchange announced on Monday.
The new contracts cover six major currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, and USD/CAD. They are available for trading 24 hours a day, seven days a week, including weekends when traditional FX markets are closed. Users can apply up to 100x leverage on these positions.
Unlike traditional forex brokers, BitMEX does not require fiat deposits or bank wires. Traders can use Bitcoin, Ethereum, Solana, and five other margin currencies through the platform's Multi Asset Margining system. The perpetual swap contracts have no expiration date and charge a 0% base interest rate, meaning there are no overnight swap or rollover fees — a cost that BitMEX notes can run $5 to $15 per standard lot per night at conventional brokers.
Funding payments are calculated based on the premium index on the same eight-hour schedule as BitMEX's existing perpetual swaps, regardless of FX market hours. According to the exchange, if the contract is not trading at a premium or discount to the index, the cost to hold the position is zero.
Fee structure for FX Perps starts at 0.0500% for both taker and maker orders. Traders who stake BMEX tokens or achieve higher 30-day trading volumes can qualify for discounts reaching as low as 0.0150% taker and 0.0320% maker.
The index price during traditional FX trading hours draws on aggregated real-time TradFi price feeds. Outside those hours — overnight, weekends, and holidays — the index price is marked to the median of the bid, ask, and last price on the BitMEX order book.
To mark the launch, BitMEX is running a promotions campaign offering up to $50,000 in USDT to traders of the new FX Perps and other TradFi Perps. New users also receive $5 in trading credits upon completing their first TradFi Perp trade.
The company said it will continue to expand the list of FX Perps and other TradFi products based on trading demand and market interest.
Disclaimer
The FX Perps are offered exclusively by RDH Limited, Inc. and subject to separate terms of service available on BitMEX's website.
Source: BitMEX