BitMEX shutdown: Aug. 26 risk limit, Sept. 23 full closure

No public data currently tracks where BitMEX customers are moving. Possible destinations can be inferred from existing market scale and depth. A same-day CoinGecko snapshot showed about $120.84 million in 24-hour BitMEX volume and $705.33 million in open interest. Binance Futures showed $45.68 billion in 24-hour volume and $25.10 billion in open interest.

The gap makes Binance the most obvious destination by scale. TokenInsight's Q2 report put Binance, OKX, Bybit and MEXC at a combined 72.46% of its covered derivatives market. CoinGlass also ranks Binance first in derivatives volume, average open interest and Bitcoin (BTC) futures depth. OKX, Bybit, Gate and Bitget form the rest of its centralized top-five competitive set. Eligibility and collateral will shape each trader's choice.

Hyperliquid is also a plausible onchain option for eligible users. CryptoSlate reported in June that the venue had $240.5 billion in 30-day perpetual volume and $8.6 billion in open interest. The available data points to dispersion across already-deep pools rather than one new home.

BitMEX's 24-hour turnover is only about 0.26% of Binance's. The market-wide volume displacement is limited. The deadlines remain absolute for customers.