Bitfinex Introduces Perpetual Contracts Settled in USDt

Bitfinex has recently launched perpetual contracts for some of the world's largest and most popular commodity indices - UK Crude Oil (UKOILF0:USTF0), Palladium (XPDF0:USTF0), and Platinum (XPTF0:USTF0). These commodity contracts provide Bitfinex Derivatives customers with access to products that are typically only found on traditional financial exchanges, but with extended trading hours. Trading is available 24/7 on Bitfinex Derivatives.

Starting from March 15 at 10:30 AM UTC, users can take advantage of up to 100x leverage with these new contracts, settled in Tether tokens (USDt). These contracts operate in a similar manner to other perpetuals on the exchange, with transactions and funding settled in USDt, and margin collateral denominated in USDt. The mark price for the contracts is based on custom off-exchange swaps quotes provided by a third-party information provider.

"We're delighted to announce the addition of UK Crude Oil, Palladium and Platinum to the growing portfolio of perpetual swaps available to trade on the exchange. We anticipate great interest in these products, particularly among funds and professional investors seeking to take directional positions or to hedge risk," said Paolo Ardoino, CTO at Bitfinex Derivatives.