Bitcoin Forum
November 19, 2018, 12:31:27 PM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Can someone explain BITMEX fees on leverage?  (Read 806 times)
biglikebigmac
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
October 27, 2017, 08:25:28 PM
 #1

Hello everyone. I'm interested in BITMEX options, but just trying to figure fees out since I have not done it on leverage before.
They say that they have a 0.075 taker fee. So if I understand this right taking an extreme example: if a trade is entered and both the bid and the ask is done as a taker then the total should be 0.15, but if I take 100x leverage, is it multiplied by 100 times aswell, meaning a 15% fee on the whole transaction?

1542630687
Hero Member
*
Offline Offline

Posts: 1542630687

View Profile Personal Message (Offline)

Ignore
1542630687
Reply with quote  #2

1542630687
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1542630687
Hero Member
*
Offline Offline

Posts: 1542630687

View Profile Personal Message (Offline)

Ignore
1542630687
Reply with quote  #2

1542630687
Report to moderator
Beerwizzard
Full Member
***
Offline Offline

Activity: 378
Merit: 112


View Profile
October 28, 2017, 10:13:15 AM
 #2

I've never had any deals with them but if the fee is fixed at 0.075 then it should be the same while using leverage. Hopefully this fee shouldn't be multiplied (x100 fee even sounds pretty unfair), otherwise it would be set as a % of your total deal. I can't be sure about that but thats how i is supposed to be from your description.
PearlPitcher
Newbie
*
Offline Offline

Activity: 1
Merit: 0


View Profile
November 11, 2017, 08:24:11 AM
 #3

Hi. I was never able to correctly calculate the fees. But I agree with you, 15 % seems about right. Maybe it´s slippage, maybe because of market orders. One things for sure. It´s pretty damn hard to trade on BitMEX.

I will try to explain it in practical terms from my personal experience. I am speaking about the Perpetual Swap, not the Dec29 Future.

The calculator on the top left corner (next to "Place Order") gives you an estimation of your Profit/Loss (p/l) , but doesn´t take fees into account.

Having spent the last year on Bitmex, from what I read in the trollbox many short-term traders lose large amounts.

The higher the leverage, the closer your liquidation price gets. Given the recent volatility with priceswings of 20$/min, it is unlikely to trade profitable on 100x. You would really have to nail the tops and bottoms within a 10$ range.

Say you enter long at 6660 with 100x .  At the time of writing, your liquidation price would be 6627.

In addition to that, the BitMEX Index Price is the price your liquidation price is set at. If you exit at market, you exit a BitMEX Index Price.

I have seen times where the quote price and Index price are as far as 20$ apart. This can give you an edge for a short period, depending on your prediction of direction. If you see the BitCoin price jumping, it usually takes a few seconds for the Index price to move accordingly.

It seems to me that marketorders are more expensive than Limit/Stop orders. The closer your takeprofit is compared to your entry price, the higher the fees will impact your P/L.

From my experience, even on 50x you need a 7-8% price move - in BitCoin -  in your favor - to achieve realistic and economically feasable returns from a Risk/Reward Ratio standpoint

BitMex is a very sophisticated platform.

I am open for discussion, if anyone can explain it better please do, I want to learn this.
mikimouse69
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
September 10, 2018, 04:57:49 AM
 #4

You pay fees (or you get rabates) at Bitmex depending on quantity and BTC price but not leverage. The same is for x1 and x100 if you have quantity for example 8000 contracts
I learned a lot how to calculate profits and fees manipulating data in this excel calculator. for bitmex
https://www.ministryofmargintrading.com/tools-bitmex-calculator-download
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!