BitMEX Basket Indices
BitMEX Basket Indices track the performance of a basket of selected coins or tokens. The Basket Index price is calculated as the Index Multiplier weighted average price of the constituents and provides traders with a thematic exposure, such as the top meme coins, while diversifying exposure into multiple underlyings.
The constituents and Index Multiplier are reviewed and updated on a monthly basis, a “rebalance”. Changes will be announced on the BitMEX website, on the BitMEX blog and via the BitMEX RSS feed, with 4 day’s notice before implementation.
Calculation of the Basket Index Price
The Basket Index Price is equal to a sum of the individual constituent prices weighted by Index Multipliers that are calculated so that :
1. At the time of initial index listing the index price is equal to 100.
2. At the time of rebalance the Index Multipliers of each individual constituent are set such that the Index Price calculated using the old Index Multipliers and the new Index Multipliers are the same.
The Basket Index price uses index prices of individual constituents and is calculated and published every 5 seconds.
See Indices for details in respect of the underlying indices.
BitMEX MEMEMEX Basket Index
The BitMEX MEMEMEX Basket Index tracks the performance of a basket of meme coins selected based on their market capitalisation in USD. When the market capitalisation analysis is performed, a cap of 20% and a floor of 2.5% is applied to the market capitalisation of each individual coin in the basket. Each constituent is required to have a set of at least 2 liquid cash pairs trading on 2 different exchanges that BitMEX uses as index source. Currently the target number of constituents for the BitMEX MEMEMEX Basket Index is 10. Adverse market events may cause a reduction in the number of constituents and the target may be updated for future index rebalances.
The Constituents and Conditional Index Multipliers of BitMEX MEMEMEX Basket Index are shown below, last updated on 28 Feb 2025. The Conditional Index Multipliers below are calculated using market capitalisation analysis performed on 28 Feb 2025. At initial index listing the Index Multipliers are scaled based on the Conditional Index Multiplier to ensure the initial index price is 100. When the Index is rebalanced, the Index Multipliers are based on the Conditional Index Multipliers and are scaled to ensure that the Index Price has the same value as with the previous Index Multipliers. Please refer to the index page for the actual Index Multipliers.
| Constituent | Conditional Index Multiplier | Market Cap Share |
|---|---|---|
| DOGE | 0.002167 | 20.00% |
| SHIB | 33.352490 | 20.00% |
| PEPE | 55.217159 | 19.95% |
| OFFICIALTRUMP | 0.000026 | 16.15% |
| BONK | 10.157312 | 6.13% |
| FLOKI | 1.262271 | 4.58% |
| MELANIA | 0.000122 | 3.50% |
| SPX | 0.000071 | 3.51% |
| WIF | 0.000131 | 3.34% |
| PENGU | 0.008250 | 2.83% |
Rebalance Schedule
The Index Multipliers for BitMEX Basket indices are rebalanced and updated on the last Friday of each month, and the Conditional Index Multiplier will be announced 4 days before the rebalance. The market capitalisation analysis is conducted 1 day before the announcement.
For example, at 04:00:05 UTC on 26 July 2024, BitMEX will perform a rebalance of Basket indices. The new Conditional Index Multiplier and changes in constituents will be announced on 23 July 2024 and will be based on constituents’ market capitalisation data on 22 July 2024.
Example Index Calculation for .BMEMEMEX Index
| Token | Index Multiplier | Last Price | Index Multiplier x Last Price |
| WIF | 4.80000000 | 2.1939 | 10.53072 |
| BONK | 327523.55000000 | 0.000025 | 8.18808875 |
| BOME | 331.55000000 | 0.00952 | 3.156356 |
| DOGE | 161.85000000 | 0.122782 | 19.8722667 |
| MOG | 1789779.45000000 | 0.0000016536 | 2.959579299 |
| PEPE | 1689941.40000000 | 0.000011142 | 18.82932708 |
| FLOKI | 45966.20000000 | 0.00018106 | 8.322640172 |
| BRETT | 47.65000000 | 0.16088 | 7.665932 |
| MEME | 124.15000000 | 0.01765 | 2.1912475 |
| SHIB | 1146119.40000000 | 0.000017023 | 19.51039055 |
The .BMEMEMEXT price will be the sum of Last Price x Index Multiplier, which was 101.2265.
Special Rebalances
BitMEX may decide, in its sole discretion, to rebalance the Index Multiplier of the Basket Index, for example (without limitation) due to the occurrence of a market disruption event (such as inaccuracy, unreliability or unavailability of one or more data sources, or otherwise unusual or extreme market conditions) or regulatory concerns regarding any constituent, and/or our intention to ensure an orderly market.
In this case, we will endeavour to communicate the change in constituents’ Index Multiplier at least 1 day in advance (but reserve the right to make adjustments with less, or no, notice, where we consider such adjustments to be necessary or desirable).