Does it cost to keep a long open on BitMex?
Does it cost to keep a long open on BitMex?
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Shut the fuck up
funding fee
>bitmex.com
so who is paying the longs or shorts. if shorts are paying how much can a le ebin hodler make just parking some btc in a 1x long?
They have to go back
How can people ask questions like these and still think they should be “investing?” You don’t even know how your platform for transactions works. You are going to lose your money.
Not if you trade a futures contract - the xbt/usd swap can incur funding fees. Trade the Sept futures and not the XBTUSD swap.
Also, read the contract details and help files
How is anyone supposed to know the answer if nobody is allowed to ask?
I heard some time ago how there was no funding fee on BitMex compared to BTC futures on CBOE or CME, but I didn't trade much then. Now that I'm on a 5x long from 6.3k and waiting for a bit bigger pump, I'm seeing some realisedPNL so I was confused lol.
not a trader, but reading their notes on the subject it appears that longs are getting paid by shorts right now. literally you get free money if you long and keep it open. any actual bitmex traders wanna verify?
always wondered this. Just keep an eye open and close the long right before the funding period whenever funding goes the other way. When you close out you're still long since you're still holding BTC, you just don't have any contracts open.
Seems like it would be a bulletproof way to collect .2-.3% on your stack any day shorts outpace longs (which seems like most days these days).
I have under "realisedPNL" 0.0028btc as green which should mean that I'm getting paid then? I thought it was realisedPNL that went to paying the funding fee.
you only get paid if you have an open position. the amount paid also varies, sometimes its only .001% other times .09%.
Yea if you haven't taken any profits, then the realisedPNL is what you were paid from funding.
Don't worry about it friend, just go with the flow! The best traders aren't worried about inconsequential things like funding rates or liquidation points or stop losses. Go with your gut!
Read the fucking website’s extensive manuals and FAQ you fucking cretin.
Too many words, just give the damn tl;dr
shouldnt be that hard to say it normal words
depends
That's a good meme right there I'll tell you wut
Don’t be a faggot and answer OP’s question
you get like 0.1% a day if shorts are high
shove a x4 leverage on and that becomes almost 0.5% a day
x4 is super safe if you get in at low 6k's
if the rate is negative shorts pay longs, if its positive longs pay shorts. it's calculated based on an equation found on the website that basically makes it be tilted in one direction if the weighted average of the trades were far above or below the index in the preceding 8 hour period. therefore you can see the next rate one period in advance. there are 3 funding charges a day, every 8 hours.
you can download the funding history. I ran the numbers over the past year (a month ago) and funding was pretty heavily accrued to shorters (i.e. you would have made money from funding keeping a short open for a whole year vs paying for a long) this makes since because of the demand during the bull run and people overpaying/lack of short liquidity at points. recently the rates have been a lot closer to 0 but there are still plenty of times where there is a pretty extreme funding rate, especially considering the leverage. it's not hard to go on a few hours before funding, put in limit orders in the direction that receives funding if there is a high rate, and then just collect the funding. it's not without risk but I'm saying you can make substantial payouts just from funding due to the leverage with not that much money if you manage it right