Following the recent launch of the SOLUSDT perpetual swap, BitMEX introduces its next summer product: the Filecoin (FIL) perpetual contract. The FILUSDT perpetual swap offers up to 33x leverage and is now available on Testnet ahead of its official release.
Key Features of FILUSDT Perpetual Contract
- High Leverage: Trade with up to 33x leverage for amplified opportunities.
- Dual-Currency Design: Fixed Bitcoin multiplier, enabling traders to speculate on FIL/USDT without holding either asset.
- XBT Margin: Profits and losses are calculated in Bitcoin (XBT), adding a unique risk premium dynamic.
Contract Specifications
| Detail | Value |
|---|---|
| Symbol | FILUSDT |
| Bitcoin Multiplier | 0.000001 XBT (100 satoshis) |
| XBT Contract Value | FILUSDT price × multiplier |
| Underlying Asset | .BFILT |
| Max Leverage | 33x |
| Maker Fee | -0.025% |
| Taker Fee | 0.075% |
| Initial Margin | 3.00% |
| Maintenance Margin | 1.50% |
How Dual-Currency Contracts Work
Unlike traditional contracts, FILUSDT uses a fixed Bitcoin multiplier. Traders:
- Don’t need FIL or USDT to trade the pair.
- Gain or lose XBT based on FIL/USDT price movements.
- May observe premiums/discounts due to the dual-currency risk structure.
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Availability and Timing
The contract will go live on June 9, 2021 (GMT+8). Until then:
- Preview the contract in "non-listed" mode 24 hours prior.
- Test functionality on Testnet.
FAQs
1. What makes FILUSDT different from regular perpetual contracts?
FILUSDT is a dual-currency contract with a fixed Bitcoin multiplier, allowing exposure to FIL/USDT without holding either asset.
2. How are fees calculated?
- Maker fee: -0.025% (rebate for adding liquidity).
- Taker fee: 0.075% for removing liquidity.
3. Can I trade FILUSDT on mobile?
Yes! BitMEX’s mobile app supports trading in 140+ countries.
4. Why might FILUSDT trade at a premium/discount?
The XBT margin requirement introduces a risk premium, similar to ETHUSD swaps.
Stay tuned for more summer product launches! For assistance, contact BitMEX’s support team.
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