The leverage of the SOLUSDT perpetual swap contract is as high as 33 times and will take effect on June 1, 2021 (Tuesday) at 04:00 UTC; now visible Testnet.
Like all BitMEX quantitative contracts, SOLUSDT products will have a fixed Bitcoin multiplier, regardless of the price of Tether/Solana. This allows traders to go long or short the SOL/USDT exchange rate without touching SOL or USDT.
Traders post margin in XBT and earn or lose XBT when the SOL/USDT exchange rate changes. This quantitative risk premium may be one of the factors leading to a premium/discount of the SOLUSDT swap transaction relative to the SOLUSDT spot price.
- Code: SOLUSDT
- Bitcoin multiplier: 0.00001 XBT (1,000 Satoshis)
- XBT contract value: SOLUSDT price * Bitcoin multiplier (1,000 Sat / 1 USDT)
- Base: .BSOLT
- Maximum leverage: 33x
- Manufacturer’s fee: -0.025%
- Recipient fee: 0.075%
- Basic initial margin: 3.00%
- Basic maintenance deposit: 1.50%
Starting from 04:00 UTC on May 31, 2021, the testnet contract will be visible on the platform private, That is, the first 24 hours of trading at 04:00 UTC on June 1, 2021.