XBTEUR: Contract Specification

Contracts Guide

XBTEUR: Contract Specification

XBTEUR is in the XBT (Bitcoin) series.

The quote currency is EUR (Euro).

Description

XBTEUR is a XBT/EUR perpetual contract priced on the .BXBTEUR Index. Each contract is worth 1 EUR of Bitcoin.

Funding is paid and received every 8 hours. The next payout event is at 4:00 am UTC.

XBTEUR 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 .XBTEURPI8H Index. These are used to calculate the final funding rate.

Today, longs will pay 0.0100%, and shorts will receive 0.0100% at 4:00 am UTC. BitMEX does not charge fees on funding payments.

Expiry: Perpetual, subject to Early Settlement.Maximum Initial Leverage: 50x
Maximum Maintenance Leverage: 100x

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	XBT	EUR	.XBTEURPI8H
Rates	0.03%	0.06%	-0.0285%

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 = -0.0285% + Clamp(0.0100% - -0.0285%, -0.05%, 0.05%)

Full Contract Details

Ticker Root	XBTEUR
Expiry Date	Perpetual, subject to Early Settlement
Initial Margin	2.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin	1.00% + Exit Taker Fee + Funding Rate
Funding Base Rate	0.0300%
Funding Quote Rate	0.0600%
Funding Premium Symbol	.XBTEURPI8H
Funding Rate	0.0100%
Funding Interval	every 8 hours
Next Funding	31 Mar 2025, 4:00:00 am
Predicted Rate	0.0100%
Mark Price	75,618.57
Auto-Deleveraging Enabled	Yes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark Method	FairPrice
Fair Basis	1.61
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	729,800
24H Turnover	5.0840 BTC
Total Volume	2,928,195,500
Type	Settled in BTC, quoted in EUR
Contract Size	1 EUR (Currently 0.00001322 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	0.5 EUR
Minimum Trade Amount	100 EUR
Max Price	1,000,000
Max Order Quantity	10,000,000
Lot Size	100
Instant PNL	Enabled

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