Crypto▼ Bearish
BitMEX, Pioneer of Perpetual Swaps, to Close in September 2026
BitMEX will close permanently on Sept. 23. New positions must be opened by Aug. 26. Dormant accounts face fees. The exchange that created perpetual swaps never lost user funds.
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BitMEX, the crypto derivatives exchange that invented the perpetual swap contract, will permanently shut down on September 23, 2026. HDR Global Trading Limited, the parent company, said the decision followed an internal review and an assessment of current market conditions. All account holders have been told to withdraw their assets before the deadline.
Trading will continue for several more weeks. August 26 is the last day to open new positions. Any contracts still open after that date will be automatically closed. BitMEX will then charge a $50 monthly fee on dormant accounts, or a 1% annual levy, whichever applies.
The closure follows a rapid reduction in available products. In July 2026 alone, BitMEX delisted 65 derivative instruments and trading pairs. That compares with 19 delistings in the first six months of the year. The company cited inadequate trading volume.
At its peak in 2019, BitMEX processed more than $1 trillion in annual trade volume and held about 57% of the global crypto derivatives market. In July 2018, daily volumes exceeded $8 billion. More than 1 million Bitcoin changed hands in a single 24-hour period.