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/biz/ - Business & Finance

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8849614 No.8849614 [Reply] [Original]

hey guys so I want to start loosing money on this new site, so I understand market makers get payed 0.025% of their trade amount and market takers need to pay 0.075% of their trade amount, so if I set up orders that means I am a market maker and I will get payed 0.025% of my trades and that I will not have to pay any fee's?? can someone please give me a full guide to bitmex fee's its page dosnt really explain it too well, ty

>> No.8849645

>>8849614
Here's the full guide:

Don't use bitmex. Don't use leverage. Use your brain instead.

>> No.8849674

>>8849645
Don't listen to this hodl faggot, Bitmex is for pros

>> No.8849687

>>8849674
please explain, if I am a market maker always I will not have to pay fee's???

>> No.8849953

>>8849687
Correct. Makers never pay fees. Of course you only get paid if someone actually takes your order.

>> No.8849989

90 90 90

>> No.8850180

>>8849614
that's right. you get paid money if your maker order gets hit, and the .025% is based off the notional value. so if you have an order for 10000 contracts of the perpetual that gets filled you'd get $2.50 in that value in btc (.000365) this gets shown in realized p/l immediately on your position. once you close the position the change in price gets added to this as well as the fee from the closing order and you are given the net p/l for the position. the other fee that's very important is the funding rate. every 8 hours a funding rate limited between 0.375 %and -0.375% for the 8 hour period is charged to everyone based on the positions open at that time (at UTC 5, 13, 21) it will show you the rate you would be charged on the left hand panel. this is charged only at these exact times, so you wont get it if you close before then. you will either pay or be paid in this instance as well. if the rate is negative you will pay if you are short and get paid if you are long and vice versa. the estimated funding rate for the next period is shown, and there is an available history of funding as well as the formula used available on bitmex.

>> No.8850197

>>8850180
this guy gets it.
100% this.

>> No.8850229
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8850229

>>8850180

sorry I am a brainlet, what is the purpose of the funding rate, why is it necessary +

>> No.8850266

>>8850229
if you have to ask then it's probably not relevant information to you

>> No.8850320
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8850320

>>8850266
>>8850229

pls anon-sama I ve tried reading it many times but it nowhere says why, is it to balance the position between shorts and longs

>> No.8850504

>>8850320
the purpose is to anchor the market in the contract to the spot market.
source is this nice article https://blog.bitmex.com/xbtusd-funding-mean-reversion-strategy/

It is definitely something worth going through and trying to wrap your mind around and a good question to ask. Many people probably don't care and just trade with it but it is helpful to understand the underlying premise.

https://www.bitmex.com/app/perpetualContractsGuide#Final-Funding-Rate-Calculation

I used to think bitmex was a bucket shop scam based on @bitmexrekt and how crazy it looked but their system is genuinely the cutting edge of bitcoin price discovery. The funding mechanism combined with the generous fee structure, nice access to leverage, and most importantly using index marking makes for a very good platform. I have been using it to short bitcoin that I don't want to sell as a hedge, with no more than 25x leverage, and that's very comfortable in this downtrend. Be very careful if you're using it to speculate though. You can make and lose money very fast if you aren't careful.