ADA, BNB, DOGE, DOT, and FIL Dual-Currency Perpetual Contracts: New Listings and Early Settlements Based on Naming Standardization

·

The cryptocurrency derivatives market is evolving rapidly, with exchanges continuously refining their product offerings to improve clarity, consistency, and user experience. In line with this trend, BitMEX has announced strategic updates to its perpetual swap contracts for major digital assets including Cardano (ADA), Binance Coin (BNB), Dogecoin (DOGE), Polkadot (DOT), and Filecoin (FIL). These changes focus on standardizing contract naming conventions, introducing new USD-settled instruments, and prematurely settling existing USDT-based contracts to ensure long-term platform coherence.

This article explores the full scope of these updates, outlines key differences between old and new contracts, and provides essential guidance for traders navigating this transition.

Why Rename and Replace Perpetual Contracts?

Standardization of financial instruments is critical in mature trading environments. Prior to this update, BitMEX listed perpetual contracts using both USDT and USD denominations, creating potential confusion among traders—especially those managing multiple positions across different symbols.

To streamline operations and align with industry best practices, BitMEX is moving toward a unified USD-based naming convention. As part of this initiative:

👉 Discover how leading platforms handle contract standardization to boost trading efficiency.

Key Details of the New Perpetual Contracts

Below is a comprehensive breakdown of the newly listed perpetual swaps. These contracts are designed to offer improved pricing precision, higher liquidity caps, and competitive fee structures during the initial phase.

ADAUSD Perpetual Swap

BNBUSD Perpetual Swap

DOGEUSD Perpetual Swap

DOTUSD Perpetual Swap

After October 13, 2021, at 8 PM GMT+8 (12:00 UTC), the standard fees will resume:

Major Differences Between Old and New Contracts

Traders must understand the structural changes that differentiate the legacy USDT-based contracts from the new USD-denominated versions.

FeatureADAUSDT → ADAUSDBNBUSDT → BNBUSDDOGEUSDT → DOGEUSDDOTUSDT → DOTUSD
Bitcoin Multiplier0.01 → 0.0001No changeNo change0.0001 → 0.00001
Minimum Price Increment0.00001 → 0.0001No changeNo change0.0005 → 0.001
Maximum Price Cap1,000 → 10,000No changeNo change50,000 → 100,000
Max Order Size50k → 500kNo changeNo change500k → 1M
Pre-Oct 13 Fee ModelTaker: 0.05%, Maker: -0.01% → Taker: 0.00%, Maker: 0.00%
🔍 Note: The most significant adjustments are seen in ADA and DOT contracts, where multiplier reductions allow for finer risk exposure control and better alignment with actual asset valuations.

These enhancements reflect BitMEX’s commitment to improving market depth and reducing slippage—especially important for high-volatility assets like DOGE and ADA.

Early Settlement of Legacy Contracts

On October 13, 2021 at 8 PM GMT+8 (12:00 UTC), the following perpetual swap contracts will be prematurely settled:

Settlement will be executed based on the respective 30-minute index price, such as .BADAT30M for ADAUSDT, in accordance with BitMEX’s official Exchange Guide.

What Traders Need to Know:

👉 Learn how professional traders manage contract rollovers and avoid forced liquidations.

Frequently Asked Questions (FAQ)

Q: Why is BitMEX replacing USDT-settled contracts with USD ones?

A: This change aligns with global standards in crypto derivatives trading. USD-denominated contracts reduce ambiguity and enhance transparency by eliminating reliance on stablecoin-specific pricing dynamics.

Q: Will FIL have a new USD-based contract?

A: While FILUSDT is being settled early, there was no immediate announcement of a FILUSD replacement at the time of this update. Traders should monitor official channels for future listings.

Q: Are there any risks associated with automatic settlement?

A: Yes. If you hold an open position past the settlement time, it will be closed automatically at the index price, which may differ from the last traded price due to volatility or spread.

Q: Can I trade the new contracts before settlement?

A: Yes. ADAUSD, BNBUSD, DOGEUSD, and DOTUSD are already available on the BitMEX testnet and production environment ahead of the legacy contract shutdown.

Q: How do fee waivers benefit traders?

A: Zero taker and maker fees until October 13 encourage liquidity provision and reduce entry/exit costs—ideal for active traders and arbitrageurs.

Q: What happens to my unrealized P&L on the old contract?

A: All profits or losses will be calculated up to the moment of settlement and reflected in your account balance upon closure.

Strategic Implications for Crypto Traders

This transition isn’t just cosmetic—it signals a broader shift toward institutional-grade clarity in crypto trading infrastructure. By unifying under a single settlement currency (USD), BitMEX reduces operational complexity and supports more accurate risk modeling.

For traders, this means:

Moreover, the temporary zero-fee model acts as an incentive for users to migrate early and engage with the new ecosystem.

👉 See how top-tier platforms optimize contract design for maximum trading performance.

Final Thoughts

The move to standardize perpetual swap contracts under a consistent XXXUSD naming structure marks a mature step forward for BitMEX and sets a precedent for other exchanges. With clearer symbols, refined multipliers, and enhanced trading parameters, traders gain better tools for managing exposure in volatile markets.

As always, staying informed about platform updates ensures smoother transitions and minimizes unexpected losses. Whether you're trading ADA, BNB, DOGE, DOT, or FIL, understanding these changes empowers smarter decision-making in the fast-moving world of digital asset derivatives.

Keywords: perpetual contracts, ADAUSD, BNBUSD, DOGEUSD, DOTUSD, contract settlement, cryptocurrency trading, USD-denominated swaps