BitMEX settled 35 derivatives on July 30, 2026, closing positions and ending trading for those contracts as part of its planned exchange shutdown. The settlement was early — not a margin liquidation — and came with no fees. The exchange will fully shut down at 04:00 UTC on September 23, 2026.
How the settlement worked
Contracts traded normally until 04:00 UTC on July 30, when BitMEX fixed the final funding rate (F0) using prices from the preceding eight hours. It then stopped calculating new funding and set the next funding rate to zero. Trading ended at 12:00 UTC, with most contracts settling at 12:00:05 UTC. Two forex pairs — EURUSD and USDCHF — settled later, at 12:32:25 and 12:33:25 UTC respectively. BitMEX charged no settlement fee; each contract's lifetime profit or loss was added to the user's Bitcoin or Tether balance, and the contracts were removed from the Positions section.
What happens next for users
From August 26, 2026 at 04:00 UTC, users can only reduce positions — a reduce-only mode. The exchange may force-close positions before the final shutdown. After closure, KYC-verified users who leave assets on the platform face a monthly account fee: the greater of $50 equivalent or 1% per year. New registrations stopped immediately as of the July 23 closure notice.
The lawsuit over 622 Bitcoin
A lawsuit filed on July 27, 2026, alleges BitMEX used server freezes and internal trading to seize 622 Bitcoin ahead of the closure. BitMEX says the case has no basis. The timing — just days before the settlement — adds tension to an already delicate wind-down.
Countdown to September 23
Users have until August 26 to reduce positions voluntarily. After that, BitMEX can force-close them. The final shutdown at 04:00 UTC on September 23 will end all exchange services. Anyone leaving assets on the platform after that date will start incurring monthly fees. The lawsuit, meanwhile, is just getting started.
