Coming Soon: BRENTUSDT Perpetual Swap Listing With Up to 25x Leverage
Tomorrow, a new perp listing for BRENT (Brent Oil) – BRENTUSDT – will be available to trade on BitMEX, with up to 25x leverage.
Trading will start here.
If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in Trading Credits for verified users- you can register here.
BRENTUSDT Contract Specs
BRENTSDT is a linear perpetual swap, margined in USDT. This allows users to gain exposure to the price of Brent and trade it with leverage, without needing to have any Brent Crude Oil holdings.
Key contract details for our Opinion token listing:
Symbol: BRENTUSDT
Margin Currency: USDT
Contract Size: 0.1 BRENT
Lot Size: 1
Minimum Trade Amount: 0.1 BRENT
Underlying: .BBRENTT
Max Leverage: 25x
Maker Fee: 0.05%
Taker Fee: 0.05%
Base Initial Margin: 4.00%
Base Maintenance Margin: 2.00%
You will be able to trade the BRENTUSDT perpetual contract here, or refer to the full contract specs here.
About BRENT, the Brent Crude Oil
Brent is the global benchmark for light, sweet crude oil sourced from the North Sea and is a primary reference point for global oil trade and energy markets. Our BRENTUSDT Perp is a synthetic derivative that allows you to access leveraged exposure to Brent crude oil prices as traded on traditional markets directly on BitMEX. Like other perpetual swaps, it never expires, trades 24/7, with up to 25x leverage, and settles in USDT (Tether).
The index price of the BRENTUSDT on BitMEX is constructed using oracles that track traditional markets. When traditional markets are open, the majority of the index price is provided by oracles (Pyth), with the remainder made up of the median of the bid, ask and last prices of the BRENTUSDT contract on BitMEX. In particular, the first source price from Pyth is referenced to the front contract of the Brent futures traded on traditional markets, which is subject to rolling before its delivery date. The second source price from Pyth is referenced to the Brent CFD prices and should trade closer to the spot price.
When traditional markets are closed, the index price will be the median of the bid, ask, and last prices on the BRENTUSDT contract on BitMEX: in this case a 2% hourly price band is applied.
Like every swap on BitMEX, funding is exchanged between longs and shorts every 8 hours. Like other TradFi markets on BitMEX, the funding bias is neutral, meaning that if Mark Price is in line with the Index, neither side pays a funding fee. This differs from most venues which naturally force long positions to pay a funding “tax”.
Click here to learn more about the mark method applied to this contract.
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