POLUSDT: Contract Specification

Contracts Guide

POLUSDT: Contract Specification

POLUSDT is in the POL series.

The quote currency is USDT (Tether).

Description

POLUSDT is a POL/USDT perpetual contract priced on the .BPOLT Index. Each contract has a value equal to its price in Tether.

Funding is paid and received every 8 hours. The next payout event is at 12:00 pm UTC.

POLUSDT uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the Funding Base Rate and Funding Quote Rate, and the premium rate is quoted in the .POLUSDTPI8H Index. These are used to calculate the final funding rate.

Today, longs will pay 0.0100%, and shorts will receive 0.0100% at 12:00 pm UTC. BitMEX does not charge fees on funding payments.

Expiry: Perpetual, subject to Early Settlement.Maximum Initial Leverage: 33.33x
Maximum Maintenance Leverage: 66.67x

View the BitMEX Perpetual Contracts Guide

Funding Calculation

More information about the funding rate is available in the Perpetuals Guide.

	Funding Base Rate	Funding Quote Rate	Premium
Symbols	POL	USDT	.POLUSDTPI8H
Rates	0.03%	0.06%	-0.0095%

I = Interest Rate, B = Funding Base Rate, Q = Funding Quote Rate, T = Funding Times Per Day
P = Premium Rate, F = Funding Rate

The Funding Rate is the rate exchanged between users.
The Premium Rate is used to calculate it, adjusted by the Interest Rate by up to 0.05%.

Formula

I = (Q - B) / T
F = P + Clamp(I - P, -0.05%, 0.05%)

Result

I = 0.0100%
I = (0.06% - 0.03%) / 3
F = 0.0100%
F = -0.0095% + Clamp(0.0100% - -0.0095%, -0.05%, 0.05%)

Full Contract Details

Ticker Root	POLUSDT
Expiry Date	Perpetual, subject to Early Settlement
Initial Margin	3.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin	1.50% + Exit Taker Fee + Funding Rate
Funding Base Rate	0.0300%
Funding Quote Rate	0.0600%
Funding Premium Symbol	.POLUSDTPI8H
Funding Rate	0.0100%
Funding Interval	every 8 hours
Next Funding	31 Mar 2025, 12:00:00 pm
Predicted Rate	0.0100%
Mark Price	0.2041
Auto-Deleveraging Enabled	Yes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark Method	FairPrice
Fair Basis	0
Fair Basis Rate	10%
Fair Basis Calculation	The fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit	1,000,000 USDT
Risk Step	1,000,000 USDT
Open Interest	62,191,000
24H Turnover	108,691.57 USDT
Total Volume	9,213,583,000
Type	Settled in USDT, quoted in USDT
Contract Size	0.01 POL (Currently 0.002041 USDT per contract)
Settlement	This contract is perpetual and does not settle. Subject to Early Settlement.
Commission	Fees in USDT. See the Fees Reference for more details.
Minimum Price Increment	0.0001 USDT
Minimum Trade Amount	10 POL
Max Price	10,000
Max Order Quantity	1,000,000,000
Lot Size	1,000
Instant PNL	Enabled

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