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BTC_USD Contract

  • BTC Perpetual Contract Guide

    You can trade Bitcoin (BTC) on BTEX through a new, innovative type of contract called a Perpetual Contract which is aimed at replicating the underlying spot market but with enhanced leverage. This product does not have an expiry date and is able to closely track the underlying reference Price Index through various mechanisms, the main of which is known as the Funding Rate.

    How is the BTCUSD Perpetual Contract Quoted?

    The BTCUSD contract’s underlying price is the BTEXBTC Index. It is an equally weighted index using the Bitstamp, Kraken, and GDAX USD BTC/USD prices. Both the underlying and the swap contract are quoted in USD. Margin and PNL are denominated in Bitcoin.


    Contract Calculations
    BTC Contract ValueMultiplier / BTCUSD Price
    USD Contract Value1 USD
    PnL CalculationContracts * Multiplier * (1/Entry Price - 1/Exit Price)

    Traders who want to profit from an increase in the Bitcoin / USD price, will buy the BTCUSD contract. Conversely, if they believe the price will go down they will sell the contract.

    Margin and Leverage

    All margin is posted in Bitcoin, which means traders can go long or short this contract using only Bitcoin. The BTCUSD contract features a high leverage of up to 100x.

    Price Index

    The .BTEXBTC Index is currently being used for the BTCUSD Perpetual Contract and BTC Futures Contracts. The constituents are as below:

    ExchangeWeight
    Bitstamp33.33%
    Kraken33.33%
    GDAX33.33%

    At this time, weightings are equal weighted. In the future, we may adjust this index. Any adjustments will be made with ample notification.

    Marking and Settlement

    As the BTCUSD contract is perpetual, there is no settlement. Marking for Unrealised PNL and Liquidation purposes are done according to the Fair Price Marking system.

    Note also: since this product is a perpetual contract, funding occurs every 8 hours. Please see the  Funding Section  in the Perpetual Contracts Guide for information, and for the current rates please see  Funding Calculation  in the BTCUSD Contract Specifications.

  • BTCUSD: Contract Specification

    The base currency is BTC.
    The quote currency is USD.

    Description

    BTCUSD is a BTC/USD perpetual contract priced on the .BTEXBTC Index. Each contract is worth 1 USD of Bitcoin.

    Funding is paid and received every 8 hours.

完整的合约详情

Symbol BTC_USD
Expiry Date Perpetual
Initial Margin 1%
Maint. Margin 0.5%
Interest Base Rate 0.03%
Interest Quote Rate 0.06%
Funding Rate 0.01%
Funding Interval every 8 hours
Next Funding 2019-04-22 12:00:00 (UTC0)
Predicted Rate 0.01%
Fair Price 5316.65
Auto-Deleveraging Enabled Yes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark Price 5316.65
Open Interest 9,344,114
24H Turnover 14,997 BTC
Total Volume 78,917,011
Type Settled in BTC,quoted in USD
Contract Size 1 USD
Settlement This contract is perpetual and does not settle.
Commission See the Fees Reference for more details.
Minimum Price Increment 0.01
Max Price 10000.00000000
Max Order Quantity 50000
Lot Size 10
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