Calculating price movement

[PierreLo]

Hi guys,

I need a little help to understand correctly the price movement calculation on Bitmex.

Im long 600USD at price 11000. Costs for market order are 0.0675% . My position value is worth 0.0545XBT.

How much of a price movement I need before i can cover costs for open my position (lets just ignore the closing costs for now...).

The reason Im asking this is when you move stop to breakeven (price where you have been filled at), you're still in loss for your costs of being filled (ignore slippage for now).

So, my breakeven price is...

Thanks for help!

[cellard]

If you set a long order worth 600 USD and the costs of doing so are 0.0675% then it should be easy as calculating the % of the market order minus the value of your long order isn't it?

So 0.0675% of 600 is 4.05 USD. 595,95 USD, which means you just need an increase of 4 bucks. Why even bother with this? Just consider that you should be higher than 11000 to be on a good track and start making gains. The % to set the order is too small to stress about it.

PS: This may be completely fucked up, im 24 hours without sleep so can't think straight.

[PierreLo]

Thanks man. I just couldn't find a way to explain my self... but if I get this right (0.0675% of 600=0.40). So the costs would be 0,40$ = 0.0000378139 XBT

So, breakeven price is 11001. Am I missing something?

PS: Why even bother with this? Cause its good to understand where all those red numbers comes from.

[cellard]

Thanks man. I just couldn't find a way to explain my self... but if I get this right (0.0675% of 600=0.40). So the costs would be 0,40$ = 0.0000378139 XBT

So, breakeven price is 11001. Am I missing something?

PS: Why even bother with this? Cause its good to understand where all those red numbers comes from.

Yes, of course I did a mistake. This is what happens when you do math with sleep deprivation... I forgot a 0. So 0.0675% of 600 is 0,405$, even less irrelevant.

The price of BTC would need to be 11000+0,405 basically for you to break even, which is why I said to not worry unless fees are considerable. It's good to know exactly what's going on tho.


PS: Someone correct me if this is wrong.

[PierreLo]

Thanks again man, for your time and explanation.