BitMEX announced the launch of Equity Perps, perpetual swap contracts that are cash-settled. Alongside the launch, they also enabled a promotional fund of 70,000 USDT in Trading Credits, designed to attract newly verified clients and encourage initial liquidity.
BitMEX announced the launch of Equity Perps, perpetual contracts that replicate the price movements of US stocks and indices, but without an expiration date. In this first phase, names like Amazon, Apple, Circle, Coinbase, Meta, Nvidia, Robinhood, and Tesla are included, in addition to the S&P 500 and the Nasdaq, with the promise of progressively expanding the list. In this way, the platform seeks to offer continuous exposure to US equities within a crypto environment.
Unlike traditional futures, these contracts operate 24/7, even outside of US market hours. They also accept cryptocurrency collateral and allow leverage of up to 20x, making them more attractive to traders accustomed to the dynamics of crypto derivatives. Funding payments are settled every eight hours, and according to the exchange, no base interest is applied to long positions. Regarding costs, BitMEX reported a maker rebate of -0.025% and a taker fee of 0.075%.
To maintain price integrity, the company stated that it uses institutional-grade data feeds and oracles, including providers such as Pyth Pro and Chainlink.
Launch campaign and phase one risks
In conjunction with the launch, BitMEX activated a promotional campaign with a total prize pool of 70,000 USDT distributed as Trading Credits. The initiative runs from February 12 to March 12 and is aimed at new users who complete the full Know Your Customer (KYC) verification process. The identification requirement is explicitly stated in the eligibility terms.
The rewards are structured in tiers. For example, those who deposit at least 100 USDT and generate more than $10,000 in Equity Perps volume can earn up to 500 USDT in credits. There are also smaller incentives, such as 5 USDT for sharing the campaign on social media or completing a short questionnaire. However, the platform clarifies that these credits are not withdrawable and can only be used to cover margin, fees, and funding costs within the exchange itself.
From a market perspective, the product has clear implications. By enabling leveraged and continuous exposure to US equities with crypto collateral, it eliminates time restrictions and facilitates short selling. This could appeal to both international retail traders and quantitative strategies that value continuous execution.
