BitMEX Traders Have 16 Days to Exit Bitcoin Perps

Traders holding over 39 million dollars in XBTUSD perpetual contracts on BitMEX face a firm deadline. As of August 10, the exchange reported nearly 40 million contracts in open interest. BitMEX will switch to an exit only mode on August 26, meaning users will no longer be able to open new positions. Investors must decide whether to close their positions manually or wait for the exchange to force closures.

This shift is part of a two stage shutdown process for the exchange. While users can currently trade normally, the restriction on August 26 limits activity to reducing existing exposure. Any positions left open after the final deadline of September 23 will be force closed by the platform. Traders who exit early retain full control over their execution timing, while those who wait hand that control over to the exchange.

Following the final closure, BitMEX will restrict account access to wallet balances and withdrawal requests. The company has warned that users who leave assets on the platform after services end will incur monthly fees. These fees are set at the greater of 50 dollars or 1 percent per year of the remaining balance. If you still have holdings on the platform, it is wise to act before the August 26 deadline to avoid unwanted liquidations or future account charges.