Bitget Announces Adjustment to USDC-M Perpetual Futures Pricing Denomination - Chainwire

09Jan

Bitget Announces Adjustment to USDC-M Perpetual Futures Pricing Denomination

Victoria, Seychelles, January 9th, 2025, Chainwire

Bitget, the leading cryptocurrency exchange and Web3 company, has announced a significant adjustment to the pricing denomination of USDC-M perpetual futures. Effective 15 January 2025 (UTC+8), the calculation of the index price for these futures will transition from being denominated in USD to USDC, providing a more consistent trading experience for users.

This adjustment will impact multiple pricing elements, including the index price, mark price, and order book prices, aligning all calculations directly with USDC. The change reflects Bitget’s commitment to streamlining operations and enhancing the usability of its USDC-M perpetual futures product.

Key Adjustments

Following the update, all pricing metrics associated with USDC-M perpetual futures, including the entry price, liquidation price, and unrealized profit and loss (PnL), will be denominated in USDC. Initial and maintenance margins, which were previously calculated in USD and converted to USDC, will also be directly calculated in USDC moving forward.

This transition will standardize calculations, reducing complexities for traders and aligning all pricing-related processes under a single denomination.

Impact on Trading

Pricing and PnL Calculations: With the change to USDC denomination, unrealized PnL will be recalculated based on the new mark price. This adjustment ensures consistency across all trading metrics.
Margins: Both initial and maintenance margins will continue to be calculated in USDC, providing a smoother margin management process.
Settlement Process: All settlement mechanisms will remain unchanged, except for adjustments to unrealized PnL calculations.

Bitget has implemented these changes with minimal disruption to trading activities, ensuring continuity and a seamless experience for users.

To fully leverage the updated features, users are advised to update their Bitget app to the latest version. iOS users should install version 2.49.0, while Android users should update to the same version. Before the update, app displays may still reference USD pricing, though this will not affect trade settlements.

Bitget encourages all users to ensure their apps are up to date to avoid any potential discrepancies and to enjoy the benefits of the new pricing structure.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA, and LATAM markets, as well as a global partner of the Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For media inquiries, please contact: media@bitget.com

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