Analysis: BitMEX’s Insurance Fund now holds over $200 million

BitMEX’s Insurance Fund surpassed $200 million for the first time yesterday; holding 26,388 BTC, which is 0.15% of all bitcoins in circulation.

BitMEX is an exchange for trading perpetual swaps, a type of derivatives contracts similar to futures contracts but without expiry dates and settlement. Instead of settlement, which converges price towards the spot price in futures, a funding mechanism is used. Every eight hours, all traders with open positions either pay or receive a funding fee.

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