What are the transaction and withdrawal fees for using Bitmex?

Bitmex is one of the top trading platforms if you are interested in using the volatility of Bitcoin and Ethereum. The Exchange provides fantastic leverage on your account holdings and is quite popular with experienced traders.
Bitmex is operated by HDR Global, a Seychelles-based company. It was created in 2016 by former bankers and derivatives experts as a place to speculate on bitcoin and other cryptocurrencies. In the last three years, Bitmex has become the destination of choice for high-frequency traders and other big speculators.
What makes Bitmex unique?
There are hundreds of trading platforms that specialise in cryptocurrency trading. But not many of them have come close to Bitmex’s success or volume. The primary reason for Bitmex’s success is its offer of 100x leverage on Bitcoin and 50x leverage on Ethereum and other cryptocurrencies. No other exchange offers that level of margin on trades.

In addition to the leverage, Bitmex is also light on the need for verification. Unlike other exchanges, they don’t have a lengthy KYC process. You can sign up and start trading within minutes. Except for the citizens of the US, Quebec and a few other countries, Bitmex is open to everyone.
Withdrawal and deposit fees
Bitmex does not charge any fees for withdrawal or depositing Bitcoin. But the bitcoin network fee has to be paid every time for withdrawal and the fee is set based on the outstanding load on the blockchain.
Transaction fees
Bitmex imposes a transparent transaction fee on each trade based on the currency and the type of transaction. For Perpetual contracts in bitcoin (XBT), you can leverage up to 100x and the maker fee is -0.0250% while the taker fee is 0.0750% The negative sign means the trader will get a rebate. Long and Short funding will be charged at 0.0055% and -0.0055% respectively.

https://www.youtube.com/watch?v=9s6QNmlaIMI

For Ethereum perpetual contracts, you can leverage up to 50x and you pay a Maker and Taker fee similar to XBT. Short and Long funding will be at -0.0100% and 0.0100%, respectively and the interval is set at 8 hours for both ETH and XBT.
In traditional futures, XBT can be leveraged to 100x. Maker fee of -0.0250% and 0.0750% as Taker fee is applicable along with settlement fee of 0.0500%.
Apart from XBT and ETH, there are six other cryptocurrencies available for future trades and none of them carry a settlement fee.

Leave a Reply

Your email address will not be published. Required fields are marked *