Crypto▼ Bearish
BitMEX Settles 35 Contracts as Shutdown Nears, Account Fees Loom
BitMEX closed 35 derivatives as part of its wind-down. Users face an account fee after closure equal to the greater of $50 or 1% per year.
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BitMEX closed 35 derivative contracts today, July 30, settling positions and canceling open orders as the exchange pushes toward its planned September shutdown.
The settlement log shows 33 contracts closed at 12:00:05 UTC. EURUSD and USDCHF followed at 12:32:25 and 12:33:25 UTC. The process completes the early settlement BitMEX flagged in its July 22 notice.
BitMEX attributed the delistings to weak trading interest and the exchange's broader wind-down. It described the process as an early settlement, not a margin liquidation. Before settlement, the contracts traded normally until 04:00 UTC, when BitMEX locked the final funding rate – labeled F0 – using prices from the prior eight hours. It stopped calculating new funding and set the next rate to zero. Trading continued after that checkpoint, then stopped at 12:00 UTC.