AVAXUSD Quanto Perpetual Contract is now live on BitMEX.
Do you have fresh powder snow? You better hope to have it, because the AVAX (Avalanche Agreement) perpetual swap contract is now listed on BitMEX.
The AVAXUSD perpetual swap contract supports up to 20 times leverage. It was launched at 12:00 GMT+8 on September 29 (04:00 UTC) and can now be traded on BitMEX.
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As with all dual currency contracts, regardless of the price of USD/AVAX, AVAXUSD products will have a fixed Bitcoin multiplier. This allows traders to go long or short the AVAX/USD exchange rate without having to hold AVAX or USD.
Traders use XBT as margin and earn or lose XBT as the AVAX/USD exchange rate changes. This dual currency risk premium may be one of the factors leading to the premium/discount of AVAXUSD swaps relative to the AVAXUSD spot price — please refer to BitMEX’s blog post explaining the same concept of ETHUSD.
Key contract details:
| Symbol: | AVAXUSD |
|---|---|
| Bitcoin Multiplier: | 0.00001 XBT (1,000 Satoshis) |
| XBT Contract Value: | AVAXUSD Price * Bitcoin Multiplier (1,000 Sat / 1 USD) |
| Underlying: | .BAVAX |
| Max Leverage: | 20x |
| Maker Fee: | -0.01% |
| Taker Fee: | 0.05% |
| Base Initial Margin: | 5.00% |
| Base Maintenance Margin: | 2.50% |
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Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...