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AllXBTUSDT19400.0-1.24%XBTUSD19296.5-1.90%XBTEUR19511.0-3.11%XBTUSDTH2321165.0-2.23%XBTUSDTZ2220200.0-1.88%XBTZ2220221.0-2.62%XBTV2219306.0-3.87%XBTH2320904.0-3.42%XBTM2322138.5-2.60%ADAUSDT0.4297-0.76%ADAUSD0.4304-0.58%ADAZ220.00002342+1.21%APEUSDT5.298-3.23%APEUSD5.303-2.79%AVAXUSDT17.120-1.41%AVAXUSD17.096-1.76%AXSUSD12.54-1.72%BCHUSDT117.30-4.63%BCHUSD116.90-4.92%BNBUSDT279.47-2.89%BNBUSD279.04-3.01%USDTBRL5.4207+1.72%USDBRL5.4120+1.41%USDTCHF0.98630-0.03%USDCHF0.98780+0.34%EURCHF0.96704+0.31%USDTCNH7.1465+0.23%USDCNH7.1461+0.10%DOGEUSDT0.06055+0.70%DOGEUSD0.06054+0.50%DOTUSDT6.260-2.42%DOTUSD6.249-3.24%EOSUSDT1.2049-0.79%EOSUSD1.2314+3.18%ETHXBT0.06738-1.58%ETHUSDT1329.15-2.63%ETHUSD1312.70-2.35%ETHUSD_ETH1589.35-0.01%ETHUSDTZ221377.85-2.60%ETHUSDZ221375.80-2.46%ETHZ220.07121-1.11%ETHUSDZ22_ETH--.-+0.00%ETHPOWZ220.10+0.00%EURUSDT0.98074+0.27%EURTRY18.1246-0.08%EURUSD0.97933-0.09%FILUSDT5.54-3.15%FTMUSDT0.2231-2.11%GALUSDT2.5648-1.68%GALUSD2.5607-2.25%GMTUSDT0.6434+0.14%GMTUSD0.6397-0.06%USDINR81.716+0.48%USDTINR81.723+0.45%KLAYUSDT0.19334-0.86%KLAYUSD0.19332-0.68%LINKUSDT7.328-3.68%LINKUSD7.369-3.99%LTCUSDT53.00-2.36%LTCUSD52.99-2.38%LUNAUSDT2.4118-3.40%LUNAUSD2.4087-3.57%MANAUSDT0.6942-1.17%MATICUSDT0.7654-2.06%USDTMXN20.133+0.17%USDMXN20.165+0.33%NEARUSDT3.532-1.62%NEARUSD3.537-1.80%NZDUSDT0.56067-0.29%NZDUSD0.56076-0.44%OPUSDT0.8913-1.54%OPUSD0.8934-1.14%SANDUSDT0.8320-1.77%USDTSEK11.1142+0.18%USDSEK11.1136+0.16%SHIBUSDT0.000011132-0.61%USDTTRY18.4905-0.26%USDTRY18.5173-0.10%SOLUSDT32.69-4.89%SOLUSD32.70-4.39%TRXUSDT0.06024-2.19%TRXUSD0.06038-1.96%XRPUSDT0.4745-2.12%XRPUSD0.4737-0.71%XRPZ220.00002577+1.30%USDTZAR18.0794-0.07%USDZAR18.1052+0.24%.BXBT19280.09-2.00%.BETH1313.23-2.39%.BVOL24H2.19-41.44%Funding: 02:05:37 @ 0.0100%Time: 5:54:22 PM UTC
GALUSDT: Contract Specification
GALUSDT
GALUSDT is in the GAL (Project Galaxy) series.
The quote currency is USDT (Tether).

Description

GALUSDT is a GAL/USDT perpetual contract priced on the .BGALT Index. Each contract has a value equal to its price in Tether.

Funding is paid and received every 8 hours. The next payout event is at 8:00 PM UTC.

GALUSDT uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .GALBON8H Index and .USDTBON8H Index, and the premium rate is quoted in the .GALUSDTPI8H Index. These are used to calculate the final funding rate.

Today, longs will pay 0.0100%, and shorts will receive 0.0100% at 8:00 PM UTC. BitMEX does not charge fees on funding payments.

Expiry: Perpetual, subject to Early Settlement.Maximum Initial Leverage: 33.33x
Maximum Maintenance Leverage: 66.67x

View the BitMEX Perpetual Contracts Guide

Funding Calculation

More information about the funding rate is available in the Perpetuals Guide.

Interest BaseInterest QuotePremium
Symbols.GALBON8H.USDTBON8H.GALUSDTPI8H
Rates0.03%0.06%0.01%

I = Interest Rate, B = Interest Base, Q = Interest Quote, T = Funding Times Per Day
P = Premium Rate, F = Funding Rate
The Funding Rate is the rate exchanged between users.
The Premium Rate is used to calculate it, adjusted by the Interest Rate by up to 0.05%.

Formula

I = (Q - B) / T
F = P + Clamp(I - P, -0.05%, 0.05%)

Result

I = 0.0100%
I = (0.06% - 0.03%) / 3
F = 0.0100%
F = 0.0100% + Clamp(0.0100% - 0.0100%, -0.05%, 0.05%)

Full Contract Details

Ticker RootGALUSDT
Expiry DatePerpetual, subject to Early Settlement
Initial Margin3.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin1.50% + Exit Taker Fee + Funding Rate
Interest Base Symbol.GALBON8H
Interest Quote Symbol.USDTBON8H
Funding Premium Symbol.GALUSDTPI8H
Funding Rate0.0100%
Funding Intervalevery 8 hours
Next FundingOct 1, 2022, 8:00:00 PM
Predicted Rate0.0100%
Mark Price2.55902
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis0.00007
Fair Basis Rate10%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit1,000,000 USDT
Risk Step1,000,000 USDT
Open Interest20,000
24H Turnover416.18 USDT
Total Volume27,975,000
TypeSettled in USDT, quoted in USDT
Contract Size0.001 GAL (Currently 0.002559 USDT per contract)
SettlementThis contract is perpetual and does not settle. Subject to Early Settlement.
CommissionSee the Fees Reference for more details.
Minimum Price Increment0.0001 USDT
Minimum Trade Amount1 GAL
Max Price10,000
Max Order Quantity1,000,000,000
Lot Size1,000