There are three types of perpetual FX contracts on BitMEX:

  • Quanto contracts: This is a type of crypto derivative where the underlying is denominated in one asset, but the derivative is settled in another. As with all listings of this type, our quanto FX swaps have a fixed XBT multiplier - regardless of the FX price. You can learn more about quanto perpetual contracts here.
  • Inverse contracts: When trading inverse contracts, users deposit a specific cryptocurrency to begin with and these contracts settle in the underlying cryptocurrency (as opposed to the quoted currency). For example, users who trade USDT/MXN would receive their payouts in USDT. You can learn more about inverse contracts here.
  • Linear contracts: These are linearly-settled contracts that do not directly touch fiat, but pay out with more intuitive USD-like assets (i.e. stablecoins like USDT). You can learn more about linear contracts here.