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5
NEARUSD: Contract Specification
NEARUSD
NEARUSD is in the NEAR (Near) series.
The quote currency is USD (US Dollar).

Description

NEARUSD is a NEAR/USD perpetual contract priced on the .BNEAR Index. Each contract is worth 0.0001 XBT per $1 price, currently 0.00014090 XBT.

Funding is paid and received every 8 hours. The next payout event is at 4:00 AM UTC.

NEARUSD uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .NEARBON8H Index and .USDBON8H Index, and the premium rate is quoted in the .NEARUSDPI8H Index. These are used to calculate the final funding rate.

Today, longs will pay 0.0100%, and shorts will receive 0.0100% at 4:00 AM 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.NEARBON8H.USDBON8H.NEARUSDPI8H
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 RootNEARUSD
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.NEARBON8H
Interest Quote Symbol.USDBON8H
Funding Premium Symbol.NEARUSDPI8H
Funding Rate0.0100%
Funding Intervalevery 8 hours
Next FundingJun 9, 2023, 4:00:00 AM
Predicted Rate0.0100%
Mark Price1.409
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis0
Fair Basis Rate10%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit50 XBT
Risk Step50 XBT
Open Interest70
24H Turnover0.0000 XBT
Total Volume126,674
TypeSettled in XBT, quoted in USD
Contract Size0.0001 XBT per 1 USD (Currently 0.00014090 XBT per contract)
SettlementThis contract is perpetual and does not settle. Subject to Early Settlement.
CommissionSee the Fees Reference for more details.
Minimum Price Increment0.001 USD
Minimum Trade Amount1 Cont
Max Price100,000
Max Order Quantity500,000
Lot Size1