SHIBUSD: Contract Specification

Contracts Guide

SHIBUSD: Contract Specification

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 0.00012767 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 Rate	Funding Quote Rate	Premium
Symbols	SHIB	USD	.SHIBUSDPI8H
Rates	0.03%	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 Root	SHIBUSD
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	.SHIBUSDPI8H
Funding Rate	0.0100%
Funding Interval	every 8 hours
Next Funding	15 Mar 2025, 12:00:00 pm
Predicted Rate	0.0100%
Mark Price	0.000012767
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	50 BTC
Risk Step	50 BTC
Open Interest	9,918
24H Turnover	0.4462 BTC
Total Volume	3,024,673
Type	Settled in BTC, quoted in USD
Contract Size	10.0000 BTC per 1 USD (Currently 0.00012767 BTC per contract)
Settlement	This contract is perpetual and does not settle. Subject to Early Settlement.
Commission	Fees in BTC. See the Fees Reference for more details.
Minimum Price Increment	1e-9 USD
Minimum Trade Amount	1 Cont
Max Price	0.1
Max Order Quantity	50,000,000
Lot Size	1
Instant PNL	Enabled

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