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How to deliver BitMEX contract

To deliver a BitMEX contract, traders have the option of physical delivery (actual asset) or cash settlement (cash equivalent to asset's value) for futures contracts upon expiration.

Nov 12, 2024 at 04:46 pm

How to Deliver BitMEX Contract

Step 1: Understand the Difference Between Perpetual and Futures Contracts

Perpetual Contracts:

Have no set expiration date.
Traders can hold positions for an indefinite period.
Offer significant leverage, typically up to 100x.

Futures Contracts:

Have a predetermined expiration date.
Contracts are settled on the expiration date.
Offer lower leverage than perpetual contracts, typically around 20x.

Step 2: Open a BitMEX Account

Visit the BitMEX website and click "Sign Up."
Provide your email address, create a password, and agree to the terms of service.
Verify your email address to activate your account.

Step 3: Fund Your Account

Log in to your BitMEX account.
Click on "Deposit" in the top right corner.
Select your preferred deposit method (Bitcoin, Ethereum, Tether, etc.).
Follow the instructions provided to transfer funds to your BitMEX wallet.

Step 4: Place a Trade Order

Go to the "Trade" page for the desired contract.
Choose the type of order you want to place (market, limit, stop-loss, etc.).
Specify the contract quantity, leverage, and order parameters.
Click "Place Order" to execute your trade.

Step 5: Monitor Your Position

The "Positions" tab on the "Trade" page displays your open positions.
Track the market price, unrealized profit/loss, and leverage used.
Adjust your position or close it if necessary.

Step 6: Delivery Process

For Perpetual Contracts:

No formal delivery process.
Positions are settled in the underlying asset when you close your trade.

For Futures Contracts:

Delivery occurs on the contract expiration date.
You can choose to physically deliver the underlying asset or cash settle your position.

Cash Settlement:

The exchange will settle the contract in cash equivalent to the underlying asset's market price.
This is the default settlement method for most futures contracts.

Physical Delivery:

You will be required to deliver the underlying asset in the form of Bitcoin or another eligible asset.
The exchange will provide instructions on how to complete the physical delivery process.

Step 7: Close Your Position

Once you are ready to close your position, navigate to the "Positions" tab.
Select the position you want to close and click "Close Position."
Specify the order parameters and click "Place Order" to execute your trade.

Additional Considerations:

Leverage: Use leverage cautiously as it can both magnify profits and losses.
Risk Management: Implement stop-loss orders and position size management techniques to control risk.
Fees: Be aware of the trading fees and funding rates associated with BitMEX contracts.
Disclaimer: Trading crypto derivatives involves significant risk and should only be conducted by experienced traders who understand the risks involved.

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