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SHIBUSD: Contract Specification

SHIBUSD
SHIBUSD is in the SHIB (Shiba Inu) series.
The quote currency is USD (US Dollar).

Description

SHIBUSD is a SHIB/USD perpetual contract priced on the .BSHIB Index. Each contract is worth 10.0000 BTC per $1 price, currently 0.00012750 BTC.

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

SHIBUSD 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 .SHIBUSDPI8H 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 RateFunding Quote RatePremium
SymbolsSHIBUSD.SHIBUSDPI8H
Rates0.03%0.06%0.007%

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 = 0.0070% + Clamp(0.0100% - 0.0070%, -0.05%, 0.05%)

Full Contract Details

Ticker RootSHIBUSD
Expiry DatePerpetual, subject to Early Settlement
Initial Margin3.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin1.50% + Exit Taker Fee + Funding Rate
Funding Base Rate0.0300%
Funding Quote Rate0.0600%
Funding Premium Symbol.SHIBUSDPI8H
Funding Rate0.0100%
Funding Intervalevery 8 hours
Next Funding15 Mar 2025, 12:00:00 pm
Predicted Rate0.0100%
Mark Price0.000012750
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis1e-9
Fair Basis Rate10%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit50 BTC
Risk Step50 BTC
Open Interest9,942
24H Turnover0.4492 BTC
Total Volume3,024,475
TypeSettled in BTC, quoted in USD
Contract Size10.0000 BTC per 1 USD (Currently 0.00012750 BTC per contract)
SettlementThis contract is perpetual and does not settle. Subject to Early Settlement.
CommissionFees in BTC. See the Fees Reference for more details.
Minimum Price Increment1e-9 USD
Minimum Trade Amount1 Cont
Max Price0.1
Max Order Quantity50,000,000
Lot Size1
Instant PNLEnabled

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