BitMEX wipes out 35 derivatives as exchange shutdown approaches with punishing post-closure fees

BitMEX settled 35 derivatives today, July 30, closing any remaining positions and canceling open orders as the exchange moved another step toward its September shutdown.

BitMEX’s settlement log shows 33 contracts closing almost on the stroke of noon, at 12:00:05 UTC. EURUSD and USDCHF followed at 12:32:25 and 12:33:25 UTC. With prices now posted for the full 35-contract batch, the early settlement flagged in BitMEX’s July 22 notice is complete.

BitMEX attributed the delistings to insufficient trading interest and its planned exchange shutdown. It described the process as an early settlement, not a margin liquidation.

Before settlement, the contracts traded normally until 04:00 UTC, when BitMEX fixed the final funding rate, known as F0, using prices from the preceding eight hours. It then stopped calculating new funding and set the next funding rate to zero. The checkpoint established the funding input for settlement but did not end trading; that occurred at 12:00 UTC.

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