BitMEX XBTUSD trading cutoff before shutdown

BitMEX recorded 39,449,400 XBTUSD contracts of open curiosity at 01:55 UTC on Aug. 10 because the alternate approached a two-stage shutdown. BitMEX will block new positions on Aug. 26 and force-close something nonetheless open when alternate providers finish on Sept. 23.

XBTUSD is an inverse Bitcoin perpetual whose contracts don’t expire throughout regular buying and selling. BitMEX’s contract specification units every contract at $1 of Bitcoin, so the Aug. 10 rely represented $39.45 million of face worth, or about 605.45 BTC on the reported mark worth of $65,156.99.

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The instrument data is a timestamped snapshot of 1 market. The $39.45 million determine measures XBTUSD open curiosity; BitMEX-wide open curiosity, merchants’ internet directional publicity and collateral are separate measures.

BitMEX XBTUSD market turns into exit-only on Aug. 26

At 04:00 UTC on Aug. 26, BitMEX plans to use danger limits that cease customers from opening new positions, in line with its closure notice. Holders can nonetheless scale back present positions, giving them simply over 16 days from the snapshot to determine how a lot publicity to exit earlier than the restriction begins. The restriction makes XBTUSD an exit-only market: holders can lower their contract rely, whereas BitMEX will bar orders that enhance publicity. BitMEX says the alternate in any other case operates usually till closure, topic to these danger limits.

From the Aug. 26 swap till shutdown, BitMEX says it might force-close positions at its sole discretion as a part of the wind-down. BitMEX might route contracts with restricted liquidity via early-settlement procedures after discover beneath the alternate’s ordinary course of. The open-interest determine describes the dimensions of the remaining XBTUSD ebook and doesn’t forecast buying and selling losses.

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BitMEX will force-close any place nonetheless open at 04:00 UTC on Sept. 23. Ready for that remaining deadline subsequently leaves the execution timing with BitMEX, whereas exiting earlier lets a dealer select when to cut back the place earlier than the alternate intervenes.

Trade providers will cease on the Sept. 23 deadline. BitMEX says customers will retain restricted account entry afterward to view pockets balances and transaction historical past and to request withdrawals.

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Jul 10, 2026 · Liam ‘Akiba’ Wright

BitMEX introduced the closure on July 23, saying the board of its proprietor and operator, HDR World Buying and selling Restricted, made the choice after a strategic evaluation. KYC-verified customers who depart property on the platform after closure will face a month-to-month account-fee evaluation primarily based on the better of $50 equal or 1% per 12 months of the remaining stability. BitMEX mentioned later payment will increase could be communicated upfront.