BitMEX Thread

They steal literally every fucking piece of advice I ever make about BitMEX. Then I've been ban'd for spam before when I copy my own post and repost it because they've been shitting up the board with it 100 times a day. I have no idea how many referrals they've stolen from me. It has to be in the 100's. Jokes on them though because I make almost nothing because I'm actually nice and explain limit orders. I could tell people to market order and make hundreds in fees but I would feel shitty. Like my payouts from 10 BTC traded has literally only been 5 dollars worth of BTC lol. If they were market orders it would be well over 60.

thanks for the idea

Yes it correlates but it can be up to +/-$100 off BitMEXs price. This means a lot when you're trading with high margin because your liquidation price is calculated off of mark price. When the spread is really high, you can be liquidated by a ONE DOLLAR movement using 100X. I never understood this starting out. I can't tell you how much I lost because of that. When the spread is too high, BitMEX actually won't let you place a high margin order because it would be autoliquidated if it was filled.

>be a retard gambler
>lose everything

ultimate kek

BITMEX sux, upcoin is future

Accepting fiat for any currency. Bye bye coinbase
plz use my link

Kek

Do you know what mark price is? Learn what the hell mark price is. I can't tell you how many times starting out I got liquidated on high margin because I was a brainlet and had no fucking clue what mark price is. Also read about their fees. You can actually make money buying and selling at the exact same price if you use limit orders and it makes it into the order book. I paid over $1600 in fees just because I didn't know about this. If you make a limit order in the order book you actually are paid for making that order. Read their fees guide extensively. And while I'm not going to recommend using BitMEX, if you do choose to, sign up with my reference for 10% off fees. bitmex.com/register/kGmeoe

Additionally, use as many indicators as you possibly can and then only trade when ALL of them say the same thing. Even then you can never really be more than about 60-70% sure about which way the price will go. Also set stop losses, you will be absolutely fucked if you do not. When you get liquidated, they take it all. 100%. Anything else goes to their insurance fund to ensure that winners can get paid no matter what the market does. Like I said before I'm not recommending you sign up for BitMEX unless you are a literal trading genius or a whale who has enough money to influence the spot prices on GDAX and Bitstamp. Don't ever, EVER use for than 25X leverage unless you want to lose your money.

Interesting. So the mark price is basically some sort of average (or something) taken between last price and BXBT.
I won't get into margin trading for a while but I'm just reading up on their documentation.

yeah sure you did OP

Yes, like I said. Read. Read again. Read a third time. Their website is actually very helpful, you just have to make the effort and devote the time to learning.
Are you implying he didn't? I've been liquidated over 30 times. It happens all the time trading with high leverage.

is this the chick that has the sorta drugged out face (in a hot way) with the nigger bf?

Can you elaborate how you would make money buying/selling at the exact same price with limits?

I'm imagining setting (for example) a buy at 8000 with price >8000, then after it goes

kek, keep your cuck fantasies to yourself

And it doesn't go into details on this in the documentation, and this is probably a stupid question, but wrt the "funding interval", it doesn't pay out the 2.5% maker fee every 8 hours right? Only on initial listing of the order?

How can you make hundreds in fees through market orders when they eat up the fees? What?

sorry not 5%, 0.05%*

she looks almost the same my man, its always spammed on /pol/

Okay so you get the .025% rebate for placing the order at 8000. That is multiplied by your leverage. You also get a .025% rebate the price goes up/down and you are able to get the order in at the exact same price because it is a limit order. It's hard to do because you have to manually type it in and then hope it hits. If it goes under your price then you might accidentally make a taker order which then charges you .075% meaning you'd lose money. I know it's confusing and it's really hard to explain. But try it out with like 1 contract on 100X leverage and you'll see what I mean.
Funding rate is calculated based on how many shorts and longs are open. I can't really explain it as it's pretty complicated and I barely grasp it. I never really have orders open long enough to get or pay funding. It often causes a pretty big price change right around funding time.

No I'm saying when the people that have used my referral make market orders, I get a fuck ton more in commissions. If they use limit orders they are paying literally nothing in fees so I make nothing in commissions. I make like 50 cents a day on a good day even when my referrals have traded over 1 BTC.

almost the same as what, your cuck porn? kys

...

But you wouldn't be able to place the two orders at the same time (obviously) because one would have to be a taker. Also interesting that maker fee is multiplied by leverage.

Wait, so let me get this straight -
If I do 1 contract at 100x lev, then the math would be:
1*0.025*100?
So for a 1 USD contract, I can make $2.5 from the maker fee?

Or am I still not getting it?

remember kids pigs get slaughtered

The fee is based off your overall contracts, not your margin per se. And no you did the math wrong. You need to add 2 more zeros to the 0.025. It should be 0.00025. You would make .025 cents per contract for the buy and then .025 cent for the close. My math may be wrong. You would make .05% though if you were able to get both limit orders in the books before they sell/are bought.

Also thanks for taking the time. I really appreciate it.

Ah shit you're right. So really it's a volume game then. Be interesting to write a bot to game the fees.

See like this is one position. I never paid any fees and entered and exited the same price and actually made a profit. It would be interesting to make a bot but it would like get rekt pretty bad. I just did this for shits and gigs with 100X leverage.

Its not really gaming anything its just market making.

But for both of those to be makers the price would have to be above 8085 for the buy, and below 8085.5 for the sell, no?
Unless there is a big enough spread I guess. But that seems pretty impossible on Bitmex at the moment because the spread is

Yes. It's hard to do for sure. I was just amazed that it can be done. Back when BTC only moved like 20 dollars a day this was probably very easy to do