Now Live: MERLUSD Perpetual Swap Listing with Up to 10x Leverage 

A new perpetual contract listing – MERLUSD – featuring Merlin Chain – is now available to trade on BitMEX, with up to 10x leverage. 

Trading for MERLUSD will started here at 12:00 UTC on 19 April 2024. 

For the lowdown on the latest listings, read on.

If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens for verified users- you can register here.

MERLUSD Contract Specs

As with all quanto contracts, the MERLUSD product has a fixed Bitcoin multiplier, regardless of the MERL/USD price. This allows traders to long or short the MERL/USD exchange rate without ever touching MERL or USD.

Traders can post margin in XBT, and earn or lose in XBT as the MERL/USD rate changes.

This quanto risk premium may be one of the factors that results in the MERLUSD swap trading at a premium/discount to the MERLUSD spot price. 

For an explanation of the same concept, check out this blog post referencing ETHUSD.

Key contract details for our MERL listing:

• Symbol: MERLUSD
• Margin Currency: XBT
• Bitcoin Multiplier: 0.0001 XBT (10,000 Satoshis)
• XBT Contract Value: MERLUSD Price * Bitcoin Multiplier (10,000 Sats / 1 USD)
• Underlying: .BMERL
• Max Leverage: 10x
• Risk limit: 50 XBT
• Maker Fee: 0.02%
• Taker Fee: 0.075%
• Base Initial Margin: 10.00%
• Base Maintenance Margin: 5.00%

You can trade the MERL perpetual contract here, or refer to the full contract specs here.

About MERL, the Merlin Chain Token

Merlin Chain is a Bitcoin Layer 2 that integrates the ZK-Rollup network, decentralized oracle network, Data Availability, and on-chain BTC fraud-proof modules. Merlin Chain is committed to empowering Bitcoin’s native assets, protocols, and products on Layer1 through its Layer 2 network, to Make Bitcoin Fun Again.

MERL is the native token of Merlin Chain and is expected to launch spot trading on 19 April around 10:00 am UTC. 

To be the first to know about our new listings, product launches, giveaways and more, we invite you to join one of our online communities and connect with other traders. 

For the absolute latest, you can also follow us on Twitter, or read our blog and site announcements. 

In the meantime, if you have any questions please contact Support who are available 24/7. 

The post Now Live: MERLUSD Perpetual Swap Listing with Up to 10x Leverage  appeared first on BitMEX Blog.