BitMEX Announces Changes to Minimum Price Increments for XBTUSD and ETHUSD

BitMEX has announced upcoming changes to the Minimum Price Increments for its Bitcoin (XBTUSD) and Ethereum (ETHUSD) perpetual swaps. These adjustments will take effect on 31 July 2024 at 04:00 UTC, according to the BitMEX Blog.

Details of the Adjustment

The Minimum Price Increment, often referred to as the Tick Size, is the smallest increment by which the price of a contract can move. The changes are as follows:

Implications for Traders

A smaller Minimum Price Increment can theoretically lead to reduced bid-offer spreads, which is beneficial for price takers when crossing the spread to trade. This adjustment aims to enhance trading efficiency and provide more precise price movements for these highly traded perpetual swaps.

Industry Context

This change comes amid increasing competition in the cryptocurrency derivatives market, where exchanges are constantly seeking to improve their offerings to attract traders. BitMEX's move to reduce the Minimum Price Increments for XBTUSD and ETHUSD is seen as a strategic effort to provide better trading conditions and more competitive spreads.

For further inquiries or support, traders can contact BitMEX through their support page.