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USDTZAR: Contract Specification
USDTZAR is in the USDT (Tether) series.
The quote currency is ZAR (South African Rand).


USDTZAR is a USDT/ZAR perpetual contract priced on the .BUSDTZAR Index. Each contract is worth 1 ZAR of Tether.

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

USDTZAR uses a Premium Index to calculate funding rates. The underlying interest rates are quoted in the .USDTBON8H Index and .ZARBON8H Index, and the premium rate is quoted in the .USDTZARPI8H Index. These are used to calculate the final funding rate.

Today, longs will receive 0.0000%, and shorts will pay 0.0000% at 4:00 AM UTC. BitMEX does not charge fees on funding payments.

Expiry: Perpetual, subject to Early Settlement.Maximum Initial Leverage: 50x
Maximum Maintenance Leverage: 100x

View the BitMEX Perpetual Contracts Guide

Funding Calculation

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

Interest BaseInterest QuotePremium

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%.


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


I = 0.0000%
I = (0.06% - 0.06%) / 3
F = 0.0000%
F = 0.0007% + Clamp(0.0000% - 0.0007%, -0.05%, 0.05%)

Full Contract Details

Ticker RootUSDTZAR
Expiry DatePerpetual, subject to Early Settlement
Initial Margin2.00% + Entry Taker Fee + Exit Taker Fee
Maint. Margin1.00% + Exit Taker Fee + Funding Rate
Interest Base Symbol.USDTBON8H
Interest Quote Symbol.ZARBON8H
Funding Premium Symbol.USDTZARPI8H
Funding Rate0.0000%
Funding Intervalevery 8 hours
Next FundingDec 8, 2022, 4:00:00 AM
Predicted Rate0.0000%
Mark Price17.1661
Auto-Deleveraging EnabledYes: This contract is highly speculative and manages loss through auto-deleveraging.
Mark MethodFairPrice
Fair Basis0
Fair Basis Rate0%
Fair Basis CalculationThe fair basis on this instrument is determined by an annualized calculation of the funding rate.
Risk Limit5,000 USDT
Risk Step5,000 USDT
Open Interest11,800
24H Turnover174.08 USDT
Total Volume577,890
TypeSettled in USDT, quoted in ZAR
Contract Size1 ZAR (Currently 0.058254 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 ZAR
Minimum Trade Amount10 ZAR
Max Price10,000
Max Order Quantity500,000
Lot Size10