Skip to main content

Are Equity Perps Based on Tokenised Stocks?

  • Updated

No. BitMEX Equity Perps are not based on tokenised stocks. They reference actual underlying stocks that trade on US and other global markets. Tokenised stocks are only used as a supplementary input to help calculate fair value index pricing, mostly when US stock markets are closed.

What Is the Underlying Price Source for Equity Perps?

During traditional market hours, BitMEX Equity Perps reference actual underlying stocks that trade on US and other global markets. BitMEX takes a different approach by anchoring its index to traditional market data through oracles like Pyth and Chainlink during traditional market hours.

When traditional markets are closed, Equity Perps platforms typically rely on alternative reference feeds such as tokenised stocks and after-hour venues. When external inputs are unavailable, platforms rely on internal order books.

Although tokenised stocks track the underlying stock price, they are not the primary reference for Equity Perps pricing. Some competing platforms rely heavily on tokenised stocks (such as xStocks) for their price feeds.

Related articles

This website is operated by HDR Global Trading Limited, a company incorporated under the International Business Companies Act of 1994 of the Republic of Seychelles with a company number of 148707 and registered address at Global Gateway 8, Rue de la Perle, Providence Mahé, Seychelles (“HDR”). HDR wholly owns BitMEX, a Bitcoin-based trading platform.


Access to trading or holding positions on BitMEX is prohibited for any person or entity that is located, incorporated or otherwise established in, or a citizen or a resident of: (i) the United States of America, Québec (Canada), the Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea or Sudan; (ii) any state, country or other jurisdiction that is embargoed by the United States of America; or (iii) any other jurisdiction where the services offered by BitMEX are restricted (collectively “Restricted Jurisdictions”). If it is determined that any BitMEX user has given false representations as to their location, incorporation, establishment, citizenship or residence, or HDR detects a user is from a Restricted Jurisdiction as described above, HDR reserves the right to immediately close their accounts and liquidate any open positions. HDR may, in its sole discretion, implement controls to restrict access to the BitMEX trading platform in any of the Restricted Jurisdictions.