BitMEX reduced base initial and maintenance margin requirements for four perpetual swap contracts on Thursday, allowing traders to open larger positions with less collateral.
The affected instruments – XAGUSDT (silver), BRENTUSDT (crude oil), MSTRUSDT (MicroStrategy stock token), and QQQUSDT (Invesco QQQ Trust proxy) – now carry a base maintenance margin of 0.5% and a base initial margin of 1.00%. That is down from the previous levels, which were not disclosed in the exchange’s brief notice.
The change took effect at 06:00 UTC on 16 July 2026 and applies to all new positions, new orders, and any adjustments to leverage or risk limits on existing positions.
Under the new parameters, maximum leverage has increased. With initial margin at 1%, traders can now access up to 100x leverage on these contracts, up from what was previously available. The bankruptcy price – the level at which a position is fully wiped out – moves closer to the average entry price because less margin is required upfront.
Maintenance margin at 0.5% also means the liquidation price will sit closer to the bankruptcy price. As a result, the amount of maintenance margin lost in a liquidation event shrinks. The spread between initial and maintenance margin has narrowed to 0.5 percentage points, bringing the liquidation price nearer to the entry price.
For traders actively using these contracts, the math is straightforward: less capital tied up in margin means more room for additional positions or reduced liquidation risk at the same leverage. But the tighter gap between entry and liquidation prices also means that a relatively small adverse move can trigger a margin call if a trader is running high leverage.
BitMEX did not explain why it adjusted margin parameters for these four contracts specifically. XAG and BRENT are commodity-linked perpetuals; MSTR and QQQ are equity-tied instruments that track the performance of MicroStrategy and the Nasdaq-100, respectively. The move comes amid a period of increased volatility across both crypto and traditional markets, though the exchange did not cite any macroeconomic factor.
The new requirements are already live. Traders holding existing positions in these contracts should review their risk settings – any change to leverage or risk limits will automatically apply the updated margins. BitMEX directs users to its product margin page for the full table.
The immediate effect is a boost in available leverage for silver, Brent crude, MicroStrategy, and QQQ traders. Whether that encourages more volume or sparks a wave of liquidations on a sharp price swing will depend on how aggressively traders use the new headroom.
BitMEX cuts collateral needs, enabling up to 100x positions in four markets
Exchange BitMEX lowered the upfront collateral required for contracts tied to silver, crude oil, MicroStrategy stock and Invesco QQQ Trust, allowing traders to open larger positions with less money and use up to 100x leverage. The change affects new and adjusted positions from July 16, while forced selling can happen closer to a trader’s entry price because less collateral is required.