News

BitMEX launches Arbitrum Futures with 20x leverage

Published

1 year ago

March 20, 2023

As the industry anticipates the release and airdrop of the Arbitrum ecosystem token ARB, it is no news players will want to take a position early on the latest trend. Leading crypto derivative trading platform BitMEX has launched an Arbitrum (ARB) token futures.

Arbitrum is an Ethereum layer two scaling network which recently announced it will be launching its native crypto – the #ARB on the 23rd.

According to BitMEX, users will be able to gain exposure to the token at 3:00 UTC today via its new USDT-margined ARB linear listing.

📣 A new @arbitrum futures listing is LIVE on BitMEX…

…meaning users can now long/short $ARB $USDT, with up to 20x leverage.

Contract deets:https://t.co/Yh29buOUYh pic.twitter.com/MlPlbsQ9hW
— BitMEX (@BitMEX) March 20, 2023

Traders will be able to capitalize on the hype around the Arbitrum token release by taking a long or short position on the ARB with up to 20x leverage.

BitMEX has explained that the ARBUSDT linear futures contract works similarly to regular futures contracts, but with some key differences that make it stand out. The contract has a size of 0.001 ARB, a low Maker fee of 0.02%, and a Taker fee of 0.075%. The Base initial Margin is only 5%, and it will expire on the 30th of June.

The Arbitrum Foundation last week announced the ARB token, promising an Airdrop to community members on the 23rd of March.

Equally important to governance is how that responsibility gets distributed to the community.$ARB is majority community owned (~56%). Of that community allocation, 12.75% will be distributed in the airdrop next Thursday, March 23, based upon a snapshot on Feb 6, 2023.
— Arbitrum (💙,🧡) (@arbitrum) March 16, 2023