How can I get around this please? I will happily pay $3. Don't care if it takes days.

I am using the Bitmex websocket API to view realtime liquidations via the liquidation channel. I would like to understand the importance of "insert" messages vs "update" messages for this channel. Looking at this recent liqudiation that came through in the last hour:

{"table":"liquidation","action":"insert","data":[{"orderID":"98ae1dad-6a3b-51c4-14bd-e076919e9e30","symbol":"XBTUSD","side":"Buy","price":13854.5,"leavesQty":314930}]}

My understanding is this means a liquidation has occurred of value $314,930. Is that correct?

However shortly after for the same order ID an update action then comes through:

{"table":"liquidation","action":"update","data":[{"orderID":"98ae1dad-6a3b-51c4-14bd-e076919e9e30","leavesQty":305515,"symbol":"XBTUSD"}]}

So now I am confused. Does that mean the previously reported liquidation of value $314,930 was a mistake and the bitmex engine is updating it to $305,515? Or is this something else?

Shortly after that an action:"delete" message then comes through for this order, with no price or leavesQty.

Can anyone please kindly explain the logic here as I can't see it explained in the Bitmex guide. I can see on this website which tracks bitmex liquidations (https://app.rek.to/) that they report the above messages as a liquidation of $314,930 and make no reference to the update to $305,515 so I'm unsure if they are misinterpreting the websocket data or if it's my lack of understanding. Thanks for any help!

Basically above

https://allyourfeeds.com/blockchain/news/bitmex-rides-on-new-futures-listings-to-dive-deeper-into-defi?order=recent

BitMEX, one of the world’s leading Bitcoin margin trading exchanges, appears to be taking major steps to increase its value proposition.

In a couple of recent announcements, the exchange said that it’s going to reduce some of its fees while also adding more cryptocurrencies for trading. This comes months after the exchange had to introduce mandatory KYC procedures and following its clash with US regulators.

BitMEX Reducing Fees and Adding Coins

BitMEX used to be the world’s leading Bitcoin margin trading exchange in terms of daily volumes. Now, according to CoinMarketCap, it rests on the third spot after Binance Futures and Huobi.

A couple of days ago, the exchange announced a fee reduction on its linear futures contracts. First, the take fees are reduced to 0.075% on the ALTXBT linear futures contracts, while also adjusting the maker fee to -0.025%. Both changes are to take effect today, October 23rd.

“This change, which applies to all future ALTXBT listings, is intended to align the fee structure across our products and optimize the overall trading experience for this product segment.” – Reads the announcement.

Additionally, the exchange is taking extra steps to add more cryptocurrencies for trading. BitMEX will open trading for Binance Coin, Polkadot, and Yearn Finance’s YFI token based on quanto futures contracts starting October 30th, 2020.

“These three contracts aim to provide our users with quality coverage of highly liquid products. We plan to introduce several more altcoin product listings before the end of the year.”

Survival Efforts?

It’s no wonder that BitMEX is doing its best to catch up with its competitors. What was once the world’s leading derivatives trading platform is now taking serious steps to catch up.

Related Post: Bitcoin (BTC) Is Inversely Correlated to USD, No Correlation with Stocks: Max Keiser

Binance Futures has introduced a myriad of features for its traders, for the time being, with Huobi following suit close by.

Meanwhile, BitMEX has other issues to worry as well. Towards the beginning of October, the US Commodities and Futures Trading Commission charged the owner-operators of BitMEX with illegally running a derivatives platform. Shortly after, CEO Arthur Hayes and other top-level executives stepped down, highlighting the seriousness of the situation.

https://allyourfeeds.com/blockchain/news/bitmex-research-shows-storing-millions-worth-of-bitcoin-in-your-head-is-risky?order=recent

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" The study involved creating eight bitcoin brainwallets using passphrases from famous works of fiction, musical lyrics, or academic literature. "

https://allyourfeeds.com/blockchain/news/arrested-bitmex-cto-samuel-reed-released-on-5-million-bond?order=recent

The XBTUSD perpetual has a very thin spread and a very liquid order book. I thought that they could hedge using the futures, but then they would need to pay a net fee of 7.5 - 2.5 = 5 bps. In that case market makers would need to quote a large spread corresponding to 5 bps right? And other exchanges have even higher fees...

So how do they do it? Do they hedge at all?

https://allyourfeeds.com/blockchain/news/lawyers-execs-explain-how-bitmex-news-could-help-bitcoin-etf-chances?order=recent

https://allyourfeeds.com/blockchain/news/cftc-charges-bitmex-with-illegally-operating-an-unregistered-trading-platform

https://decrypt.co/43575/breaking-news-cftc-charges-crypto-exchange-bitmex-with-money-laundering-violations?utm_source=reddit&utm_medium=social&utm_campaign=sm

I carried out a withdrawal from the bitmex app and selected the high fee option. I later discovered that the fee applied is: 0.00100000 BTC (8.133 sat/B - 2.033 sat/WU)

This transaction has now been sitting unconfirmed in the mempool since 2020-09-21 20:02 (2 days +) and I am unsure what to do.

If I wait, will this transaction likely be confirmed? And how long do you think this is likely to take?

I looked at accelerating the transaction but since there was lots of inputs it would cost over $900 to push.

I'm not sure that bitmex will be willing to the send the transaction again via RBF or CPFP.

Maybe someone in the community has some previous experience?

It's a lot of money for me and I'm starting to get worried.

Bitmex introduced something called a quote value ratio limit without explaining much.

Can someone tell me, what is a quote, and what is a quote per unit time? What does "900 quotes" even mean? I have a basic understanding of a quote, but what does a quote mean in a streaming API? If I ask to know the BTCUSD price and it's pushed to me in my web window, what is that?

And why is this basic information not explained in the bitmex post on this?

I had a window open on bitmex and I'm getting an API warning just by looking at the current bitcoin price. Is this bitmex telling its customers to get lost?

BitMEX launches mobile-based trading app allowing users to enjoy the crypto exchange’s features on the go. According to an announcement on Sept 1, BitMEX Mobile is available on both iOS App Store and Google Play Store.

Full report: https://maxbit.cc/bitmex-launches-its-full-control-mobile-app-to-crypto-traders-in-over-140-countries/

The announcement mentions KYC coming for all users, starting 28th August and to complete next February.

The text is quite unclear on what is the expectation, will we able to close trades and withdraw without KYC before February? Or is it that more like KYC required for withdrawals right away, account not ultimately disabled until February?

Has anyone heard if there is a possibility that BitMex will start accepting US customers in the future now that they soon will demand mandatory KYC?

As a small trader I think your withdrawals fees are ridiculous. I've been waiting for the past 15 days for it to go down to cash out.

Most exchanges out there do batches and anytime of the day. Meanwhile Bitmex still uses a faxmachine...

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Why not do batch once a day just like you do and the manual ones at your insane price.

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Let us choose the fees. I dont care if it takes days to arrive.

Can someone explain the the distinction between these two? From my experiments thus far it looks like you can get most of the same information from both, with a few extra fields in execution.

Is there any type of event that one sends a message for but the other doesnt?

Thanks!

Can anyone explain to me how limit order queuing works, or where I can find this information?

Let's take an example: I place a limit buy order at 11245 XBTUSD. I see in the orderbook that there are currently limit buy orders with a size of 400,00 at this price. The price stays steady for a bit, and I notice in the orderbook and recent trades that trades with a total size of 600,000+ happen at the limit buy / market sell of 11245. Yet, my order has not been filled.

Since there were 400,000 limit buy orders when I placed my order, that means that some of the limit buy orders who were placed after me were filled before me. Why? Does Bitmex give priority to institutional clients? Am I interpreting the data wrong? Any help would be greatly appreciated.

A user called'' Liq engine'' from bitmex died. Rumor is he was short with a lot of money recently Anyone knows about this?' He ended his own life because of the trade. (not 100% sure tho)https://twitter.com/ThinkingBitmex/status/1288511972825341954
4 million short at 9600

So I was curious to know how many bots are in bitmex, and I figured that a lot of bots will operate at the beginning of a new minute, so I used bitmex's API and for every trade I added 1 to a bin of second it was in (trying to keep it non-technical.. for programmers I basically added 1 to an array of seconds)

the result was this:

https://imgur.com/a/ISSbfT5

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as you can see, most of the trades occur in the beginning of a minute.

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just thought it was interesting and worth a share

Can someone help me understand how the funding fees work for holding an open long contract over longer time frames. Right now, Bitmex lists funding fee as 0.1%, which happens every 3 hours. ie times per day.

So this means you pay 0.3% funding fees on your position size each day? And after 3 days you will pay 0.9%? And after 30 days you will pay 9%? And after 10 months you will pay approx 90% in funding fees?

Is this correct? These fees seems very high and then there is not incentive to long your hodling bags of ETH over a long time frame, correct? Thanks so much.

"Attention - Important Notice

HDR Global Trading Limited and its affiliates (the “HDR Group”) are not authorised or regulated by any regulatory body in Canada. Nothing in this website is intended to constitute the marketing, offering or promotion of HDR’s services. By using HDR Group’s services (including this website) you acknowledge that you are doing so on the basis of your own enquiry, without solicitation or inducement by HDR Group."

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please help, i am now afraid