OPEN-SOURCE SCRIPT

BitMEX ETHUSD contract value (USD)

The ETHUSD Quanto Swap contract on BitMEX allows you to trade ETHUSD with Bitcoin put forward as collateral. However this means that 1 contract is not equal to 1 USD or 1 ETH, but instead varies according to the price of ETHUSD.

You can see the contract specs here bitmex.com/app/contract/ETHUSD and find more information here blog.bitmex.com/why-quanto/

My advice is always to make sure you fully understand a derivative product before you trade it, however many of us may not have the acumen to actually understand how a quanto swap works. Nevertheless, we have to be aware that the value in USD of each contract depends on the price of Ethereum and also the price of Bitcoin at each point in time.

This tool will show you the value of a single ETHUSD contract in USD, but it solely for indicative purposes only. Your trade, your risk. I do not ask for any donations from your gains and I am not liable for any of your losses.

Source code is provided.

Note in the example image that the price of ETHUSD is plotted on a logarithmic scale but the indicative contract value is linear.
bitmexETHUSDTrend AnalysisValue

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