BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees
BitMEX completed early settlement of 35 derivatives contracts on July 30, closing remaining positions and canceling open orders as part of its wind-down ahead of a September shutdown. Most contracts settled around 12:00 UTC, with EURUSD and USDCHF following shortly after. The exchange said the delistings were due to low trading interest and the planned closure, not a margin liquidation. Trading continued until 04:00 UTC, when BitMEX fixed the final funding rate using the prior eight hours of prices, then set future funding to zero. At 12:00 UTC, trading ended, open orders were canceled, and positions were closed at the published settlement prices with no settlement fee. P&L was credited to users’ BTC or USDT balances, and the contracts were removed from Positions. BitMEX’s broader shutdown plan stops new registrations, limits users to reducing positions from Aug. 26, and ends services on Sept. 23, when any remaining positions will be force-closed. KYC-verified users who leave assets after closure may face a monthly custody fee.
