This is a mirror of the original BitMEX trollbox archive that used to be online here.
BitMEX disabled their archive after the DDOS attack so I have decided to make my mirror publicly available.

Well now, a few days after I made this mirror available to the public, the original archive from BitMEX is online again.
But since it is still limited (neutered to the last few hundred messages) I will keep my FULL mirror alive.

You have access to more than 50 million trollbox posts. This is more than 7 gigabyte of data hosted on a $5 server so please be patient or consider a donation

<<  >>  English  中文  Русский  한국어  日本語  Español  Français 
[2016-06-12 04:03:35] rentchev : how big?
[2016-06-12 04:03:59] j8 : as big as you want, earthling
[2016-06-12 04:04:36] rentchev : lol
[2016-06-12 04:04:43] rentchev : I am not that rich
[2016-06-12 04:05:06] 1QaZxSw2 : so price should go up, i should exit my longs and then price should retrace and DPE should go down to like 3%, thats the ideal scenario
[2016-06-12 04:05:32] sleger : ideal one would be 0% not 3%
[2016-06-12 04:06:56] rapidtrades : 1QaZxSw2: unless ur hedged elsewhere, ideal would be for price to continue higher
[2016-06-12 04:07:36] rapidtrades : sleger: bro is that 275k u
[2016-06-12 04:08:17] sleger : no
[2016-06-12 04:09:55] rentchev : there are big sizes on both sides
[2016-06-12 04:10:12] rapidtrades : ^^^ this guy is a scholar of the market
[2016-06-12 04:12:11] mbaril : 247000 buy
[2016-06-12 04:12:16] mbaril : wth this is crazy
[2016-06-12 04:14:29] asdfman : a almost 500k% ROE would be nice by 24th of June
[2016-06-12 04:14:31] asdfman : kkkkkk
[2016-06-12 04:14:37] asdfman : aaaakkakkakkak
[2016-06-12 04:15:47] rapidtrades : smone post the email
[2016-06-12 04:17:55] micmix : nospam@rapidtrades.net
[2016-06-12 04:29:34] lockhedge : current loss of the unfilled liquidation is about 62 XBT - 39 XBT (insurance fund) = 23 XBT (bankruptcy total) / 0.1639 (expected adjustment rate) = 140.33 XBT (adjustment base) is this correct?
[2016-06-12 04:30:03] aethlios : e-mail with changes sent??
[2016-06-12 04:30:09] ayy_lmao : rekt
[2016-06-12 04:32:05] BitMEX_Wally : lockhedge: The liquidation fund includes ETHXBT and other products, so it won't be completely spent
[2016-06-12 04:32:20] palmer1979 : how is the funding rate of XBTUSD at .0547%? that's like 3x more than in the period beore...
[2016-06-12 04:32:40] Blargwaffle : Bitmex lender's fault.
[2016-06-12 04:33:04] j8 : BitMEX_Wally: `Profit Adjustment = Total Loss / (Total Profit + Existing Insurance Fund)`. if there's DPE, the fund should be zero
[2016-06-12 04:33:20] BitMEX_Arthur : The goal of BitMEX swap products is to offer a non-expiring leveraged trading product that closely tracks the price of the underlying asset. The exchange of interest payments between longs and shorts helps to anchor the swap price close to the spot price. However, recently our Bitcoin / USD swap product XBTUSD, has been trading at a large premium to spot. This means that the Bitfinex USD and XBT lending rates do not accurately reflect the market. In order to anchor the swap price to the spot price, the funding rate charged each 8 hours will include the outright premium over spot, or discount below spot, that the swap trades at on the open market. If the Bitfinex lending rates are lower than the premium the swap traded at over the past 8 hours, the funding rate will increased to the level of the premium. The funding rate published at 12 June 2016 12:00 UTC will be the first to incorporate the new changes. The rate is predicted to be 0.43% and will be charged at 20:00 UTC. For a mor
[2016-06-12 04:33:21] palmer1979 : Blargwaffle i thought its based on rates on bitfinex margin platform
[2016-06-12 04:33:30] BitMEX_Wally : palmer1979: It is for now: https://www.bitmex.com/app/index/.USDBON
[2016-06-12 04:33:42] Blargwaffle : Bitfinex, yeah.
[2016-06-12 04:33:44] 24hourz : we break 4264 cny next
[2016-06-12 04:33:48] BitMEX_Arthur : That's a draft of the announcement, we are taking some suggestions on things that aren't clear
[2016-06-12 04:34:02] BitMEX_Arthur : The formal announcement will be distributed via email in 45 minutes
[2016-06-12 04:34:34] 24hourz : yall ready for this next leg up!!
[2016-06-12 04:34:43] ayy_lmao : the huge difference between mark price and fair price during the last 24 hours allowed liquidations to have losses over 100% PNL right?
[2016-06-12 04:35:23] BitMEX_Arthur : ayy_lmao: That and the fact that the market has continued rising
[2016-06-12 04:35:30] ayy_lmao : i see
[2016-06-12 04:35:44] arbitrage001 : good news for shorty
[2016-06-12 04:36:03] arbitrage001 : guess i should celebrate
[2016-06-12 04:36:15] rapidtrades : BitMEX_Arthur: are the interest and funding payments to shorts subject to DPE
[2016-06-12 04:36:17] arbitrage001 : even though i loss 20 btc today
[2016-06-12 04:36:45] 24hourz : depending on how many you hold the rise might have increased your net worth still
[2016-06-12 04:36:56] aethlios : great change will keep premium low and increase short sellers incentive to short, so much more volume.....
[2016-06-12 04:37:32] 24hourz : 4265 legoooo
[2016-06-12 04:37:58] BitMEX_Arthur : rapidtrades: No they are not
[2016-06-12 04:38:54] 1QaZxSw2 : so if i get a 17%ROE and the current DPE is 17%, does that mean my net profit is 14.11%?
[2016-06-12 04:38:54] rapidtrades : ok cool
[2016-06-12 04:39:57] zanza : we can blame rapidrades for this high DPE, he was lobbying for lower interest rates few weeks ago
[2016-06-12 04:40:47] aethlios : 1QaZxSw2: correct
[2016-06-12 04:41:00] palmer1979 : XBTUSD is a cool product : )
[2016-06-12 04:41:14] rapidtrades : my changes were never implemented tho :)
[2016-06-12 04:41:21] Blargwaffle : I like it because I make money on it.
[2016-06-12 04:41:40] lockhedge : BitMEX_Arthur: "that the swap trades at on the open market." could be misunderstood, don't you use an 8h time weighted average premium and still always publish the rate 8h in advance?
[2016-06-12 04:41:42] 1QaZxSw2 : basically, i think there's an incentive to trade rash at 100x or 50x leverage since you know that your bad trades are subsidized
[2016-06-12 04:42:14] 1QaZxSw2 : cautious, good traders are penalized
[2016-06-12 04:42:26] 1QaZxSw2 : but i guess there are more bad than good traders anyway
[2016-06-12 04:42:30] BitMEX_Wally : lockhedge: You are correct I will update the announcement
[2016-06-12 04:42:47] 1QaZxSw2 : so from bitmex point of view, DPE is a good strategy
[2016-06-12 04:43:27] arbitrage001 : there is no dpe for the last few months
[2016-06-12 04:43:29] arbitrage001 : is there?
[2016-06-12 04:43:38] arbitrage001 : or was insurance eaten upp all the dpe?
[2016-06-12 04:43:50] Blargwaffle : Your benefit from the losers outweighs their welfare.
[2016-06-12 04:44:12] rapidtrades : arbitrage001: dpe is right there, 17%
[2016-06-12 04:44:55] rapidtrades : 17 big ones
[2016-06-12 04:46:55] rapidtrades : cmon bitcoin, up or down
[2016-06-12 04:47:37] Moo : moment of truth. we either surge past 640 as we blow everybody's stops, or we go sideways or down. maybe a spike here just to trigger stops and then a dump
[2016-06-12 04:47:46] BitMEX_Wally : https://www.bitmex.com/app/swapsGuide#premium-index
[2016-06-12 04:47:50] Blargwaffle : Maybe we go up/down/right.
[2016-06-12 04:47:50] aethlios : BitMEX_Wally: so from now on premium % counts to funding rate calcul. true??
[2016-06-12 04:47:53] 24hourz : we break 4265 aggressively soon !!!
[2016-06-12 04:48:02] asdfman : https://www.youtube.com/watch?v=ixZjoc_jlmQ
[2016-06-12 04:48:17] BitMEX_Arthur : aethlios: Yes please read through the doc that Wally just posted, it gives a more detailed answer
[2016-06-12 04:48:28] BitMEX_Wally : asdfman: Yes, the premium at the moment will go into the 12:00 UTC funding rate which will be charged at 20:00 UTC
[2016-06-12 04:48:56] arbitrage001 : BitMEX_Wally: the insurance have enough fund to cover the 17% dpe?
[2016-06-12 04:49:00] asdfman : wrong alias-reply?
[2016-06-12 04:49:05] BitMEX_Wally : https://www.bitmex.com/app/index/.XBTUSDPI8H
[2016-06-12 04:49:15] palmer1979 : guess the higher funding rates are working, premium is already down
[2016-06-12 04:49:25] zanza : if you seee a DPE, then insurance is gone
[2016-06-12 04:51:05] Blargwaffle : So, shorters are funded less when the premium is higher.
[2016-06-12 04:52:54] aethlios : Blargwaffle: more not less
[2016-06-12 04:53:15] arbitrage001 : short are getting paid more
[2016-06-12 04:53:20] arbitrage001 : if premium is high
[2016-06-12 04:53:48] Blargwaffle : That seems counterintuitive, is premium being higher what is wanted?
[2016-06-12 04:53:49] aethlios : Blargwaffle: so they have an incentive to short and keep premium low.
[2016-06-12 04:54:23] palmer1979 : yeah, cause if you wanted to get out of the trade and exchange back to USD on bitfinex, you would lose money as short if price on bitfinex is lower than on bitmex
[2016-06-12 04:54:59] palmer1979 : so would make sense to get paid more when premium is positive
[2016-06-12 04:55:24] Blargwaffle : Maintain higher premium to maintain higher funding... whatever.
[2016-06-12 04:56:06] asdfman : spreadstamp
[2016-06-12 04:56:09] aethlios : Blargwaffle: it's just not a free ride now
[2016-06-12 04:56:53] Blargwaffle : Guess we'll see what happens.
[2016-06-12 04:59:21] aethlios : now the swap looks like the old 24H but with out settlement.
[2016-06-12 05:01:37] rapidtrades : my ass can't take this anymore
[2016-06-12 05:03:03] j8 : did your ass make some btc today at least
[2016-06-12 05:04:04] rapidtrades : btc was made
[2016-06-12 05:04:54] arbitrage001 : how does the dpe work?
[2016-06-12 05:05:05] arbitrage001 : both long and short on swap pay?
[2016-06-12 05:05:38] BitMEX_Wally : arbitrage001: At the rebalance all realisedProfit is adjusted
[2016-06-12 05:06:06] arbitrage001 : both positive and negative released profit?
[2016-06-12 05:06:14] arbitrage001 : realized
[2016-06-12 05:06:39] BitMEX_Wally : Only positive realised profit
[2016-06-12 05:06:48] arbitrage001 : so if i am losing money
[2016-06-12 05:06:53] arbitrage001 : dpe doesnt affect me
[2016-06-12 05:06:56] BitMEX_Wally : Correct
[2016-06-12 05:06:57] arbitrage001 : right?
[2016-06-12 05:07:01] arbitrage001 : ok thank you
[2016-06-12 05:07:05] arbitrage001 : weee
[2016-06-12 05:07:05] rapidtrades : lol
[2016-06-12 05:08:18] j8 : arbitrage001: it's great isn't it? just close if it looks like there's DPE risk on the downside
[2016-06-12 05:09:07] arbitrage001 : j8: price takes everything into account i think
[2016-06-12 05:09:11] Blargwaffle : Winners get the stalactite, losers get the pillow.
[2016-06-12 05:09:32] 1QaZxSw2 : wow, so the insurance is all gone?
[2016-06-12 05:09:33] arbitrage001 : so the premium/discount are justified
[2016-06-12 05:10:03] j8 : it's not a very free market though.
[2016-06-12 05:10:04] rapidtrades : this upmove doesn't look done yet
[2016-06-12 05:11:25] lockhedge : 1QaZxSw2: it's not gone yet, but it's less than the unrealised loss of the unfilled liquidation "symbol":"XBTUSD","side":"Buy","price":610.21,"leavesQty":1186879
[2016-06-12 05:12:11] BitMEX_Wally : The XBT insurance fund is depleted, the remaining balance is from ETH, LSK, DAO, LTC etc
[2016-06-12 05:12:33] rapidtrades : BitMEX_Wally: i thought they all share/
[2016-06-12 05:13:19] lockhedge : BitMEX_Wally: could you pls publish the insurance funds separately? did know there was more than one fund
[2016-06-12 05:13:31] lockhedge : *didn't know
[2016-06-12 05:14:21] rapidtrades : i thought they all shared
[2016-06-12 05:14:24] j8 : the insurance fund page implies that it's shared and any balance will be used to offset any DPE
[2016-06-12 05:14:47] j8 : although we all asked for it to be separated many times
[2016-06-12 05:15:17] BitMEX_Wally : We'll publish a breakdown soon
[2016-06-12 05:23:01] zanza : .43% is pretty high rate
[2016-06-12 05:23:24] zanza : at 50x levrage, that would be like 25% of your initial capital
[2016-06-12 05:23:46] BitMEX_Wally : The history of funding rates charged is here: https://www.bitmex.com/app/fundingHistory
[2016-06-12 05:24:12] BitMEX_Wally : It got as high as 0.0184% before
[2016-06-12 05:24:23] aethlios : zanza: if you close before the time of the rate then you don't pay. for entering the market for a few hours you are NOT affected
[2016-06-12 05:24:44] BitMEX_Wally : aethlios: Correct
[2016-06-12 05:25:05] rapidtrades : oh you are definitely affected just not by the funding rate
[2016-06-12 05:27:32] BitMEX_Wally : *high as 0.7046% before
[2016-06-12 05:27:50] BitMEX_Wally : at 2016.05.30 12:00 UTC
[2016-06-12 05:31:04] yerb : BitMEX_Wally: can mark price liquidate a position long that is well in profit?
[2016-06-12 05:32:20] BitMEX_Wally : Profit is calculated using the mark price, so no
[2016-06-12 05:33:05] BitMEX_Wally : However, if the swap is at a premium to the mark price, then a position with an unrealised loss could be closed at a profit
[2016-06-12 05:35:58] 1QaZxSw2 : so okc is at 638. mark price here is around 632. quite a difference
[2016-06-12 05:36:19] Blargwaffle : Trying to attract bad traders.
[2016-06-12 05:37:38] 1QaZxSw2 : profit is calculated using mark price? so if i buy at 600 and sell at 640, i dont make 40?
[2016-06-12 05:38:02] BitMEX_Wally : Unrealised profit is calculated using the mark price
[2016-06-12 05:38:16] BitMEX_Wally : If you buy 1 Bitcoin worth at 600 and sell at 640 then you make $40 worth of Bitcoin
[2016-06-12 05:38:33] yerb : can you fix this mark price, its useless
[2016-06-12 05:38:45] BitMEX_Wally : We're fixing the swap price
[2016-06-12 05:39:10] lockhedge : BitMEX_Wally: "If the Bitfinex lending rates are lower than the premium the swap traded at over the past 8 hours, the funding rate will increased to the level of the premium." -> won't you have the same problem with unfilled liquidations when there is a downtrend and discount? especially in a downtrend the bitfinex lending rates don't reflect the market because USD can be as well used to go long ETH.
[2016-06-12 05:42:00] BitMEX_Arthur : Then the funding rate will be more negative, longs get paid, shorts pay
[2016-06-12 05:42:04] 1QaZxSw2 : so i can't trade my profits now, correct? need to wait for reblanace is that 8 hours?
[2016-06-12 05:42:10] BitMEX_Arthur : 1QaZxSw2: Yes
[2016-06-12 05:42:12] BitMEX_Wally : 1QaZxSw2: Correct
[2016-06-12 05:42:21] laurenssteen : BitMEX_Wally: The liq price, is it triggered by last sold contract price or mark price
[2016-06-12 05:42:32] BitMEX_Wally : laurenssteen: mark price
[2016-06-12 05:42:37] 1QaZxSw2 : well its certainly an improvement over the old futures contract which was one week
[2016-06-12 05:42:42] laurenssteen : thx
[2016-06-12 05:42:56] BitMEX_Wally : laurenssteen: However you can set Stop orders that are triggered by Last Price or Mark Price, there's a checkbox
[2016-06-12 05:43:44] micmix : lockhedge: USD lending rates have been higher than BTC on finex even in downtrend last year. I can remember just a few weeks when BTC was higher
[2016-06-12 05:46:26] j8 : yeah, a discount on the swap should definitely drive the rate negative.. that's not clear in the e-mail
[2016-06-12 05:46:30] micmix : most people have BTC backing their margin position on finex, and when you short you use your own BTC first before borrowing
[2016-06-12 05:46:32] lockhedge : BitMEX_Arthur: ok, so if the bitfinex rates are higher than this discount, the funding rate will decreased to the level of the discount as well?
[2016-06-12 05:47:09] BitMEX_Arthur : If the swap is trading at a discount, that will be reflected in the funding rate
[2016-06-12 05:47:11] BitMEX_Arthur : same as a premium
[2016-06-12 05:48:27] j8 : so, the premium/discount should always be used, in combination with the bitfinex rate. not just when it's higher
[2016-06-12 05:49:25] j8 : or get rid of the bitfinex rate entirely.
[2016-06-12 05:49:47] BitMEX_Wally : If the premium is 0.10% and the bitfinex rate is 0.15% then the funding rate is 0.15%
[2016-06-12 05:50:04] BitMEX_Wally : if the premium is 0.10% and the Bitfinex rate is less than 0.10% it is ignored
[2016-06-12 05:50:26] BitMEX_Wally : i.e. the rate is 0.10%
[2016-06-12 05:50:36] j8 : it should be worked it out so that the premium / discount increments the rate, rather than replaces it.
[2016-06-12 05:50:46] BitMEX_Arthur : what do you mean
[2016-06-12 05:50:46] Blargwaffle : No averaging or weighting between the two?
[2016-06-12 05:51:14] BitMEX_Wally : The premium is measured above spot, so it includes the market's forward projection of the funding rate
[2016-06-12 05:52:12] BitMEX_Wally : So if the funding rate is 0.20% and the premium is 0.15% that means the swap is trading at a 0.05% discount to the mark price
[2016-06-12 05:52:26] j8 : so if the rate is 0.5% and that's big enough for the premium to decrease to zero, will the rate remain 0.5%?
[2016-06-12 05:52:41] BitMEX_Wally : j8: No, if the premium decreases to 0% then the next funding rate will be 0
[2016-06-12 05:53:02] j8 : but then they will buy up a premium again
[2016-06-12 05:53:20] BitMEX_Wally : It's more gradual than that
[2016-06-12 05:53:48] BitMEX_Wally : If the funding rate is 0.50% then if the premium is 0% then this will be measured as a discount to the mark price which decays over the 8 hour period
[2016-06-12 05:53:55] BitMEX_Wally : So it will be measured as a 0.25% rate
[2016-06-12 05:56:38] j8 : ok, so the rate actually goes to an equilibrium.. i think.
[2016-06-12 05:56:43] BitMEX_Wally : j8: Yes, that's the plan
[2016-06-12 05:57:15] BitMEX_Wally : https://www.bitmex.com/app/swapsGuide#premium-index
[2016-06-12 05:57:42] BitMEX_Wally : The formula is here, it's a bit subtle, but Mark Price is constantly decaying using the Funding Rate as the basis
[2016-06-12 06:00:05] BitMEX_Wally : So if the funding rate is 0% and the swap is at a constant 0.50% premium to spot, then .XBTUSDPI8H is 0.50%. But if the funding rate is 0.50% and the swap is at a constant 0% premium to spot, then .XBTUSDPI8H is 0.25%
[2016-06-12 06:00:59] BitMEX_Wally : If the funding rate is 0.50% and the swap is at a 0.50% premium at 12:00, a 0.25% premium at 16:00, and a 0% premium at 20:00 then .XBTUSDPI8H is 0.50%
[2016-06-12 06:01:04] BitMEX_Wally : So it is self balancing
[2016-06-12 06:01:42] BitMEX_Wally : It jumps up and decays down
[2016-06-12 06:06:42] justinlooking : 4270 hahaha rekt
[2016-06-12 06:38:47] REKT : Liquidated long on `XBTUSD`: Sell 14310 @ 629.33
[2016-06-12 06:39:43] j8 : thin books
[2016-06-12 06:40:10] j8 : hyper bots
[2016-06-12 07:06:42] micmix : bipolar bots
[2016-06-12 07:10:21] lockhedge : micmix: very bad day for my non-directional bot (the worst in it's history), how is yours doing?
[2016-06-12 07:11:42] micmix : lockhedge: was in red during the pump, back in green now but almost zero profit for today
[2016-06-12 07:13:01] micmix : (talking about the unhedged MM here)
[2016-06-12 07:15:23] lockhedge : wow that's great that you could already compensate for the losses during the pump
[2016-06-12 07:27:29] lockhedge : even my $10 blindfolded monkey bot never lost that much money, there has to be something wrong with my code i guess
[2016-06-12 07:54:15] sq : lockhedge: do u hedge your spot?
[2016-06-12 07:54:24] sq : your mm bot
[2016-06-12 08:08:59] lockhedge : sq: no, there is only passive "hedging" by adjusting the price. in theory it should be cheaper than active hedging but the return is much more volatile
[2016-06-12 08:09:13] sq : yeah agreed
[2016-06-12 08:09:20] sq : u r so called short gamma
[2016-06-12 08:13:36] lockhedge : it seems that i'm long gamma until a certain point of volatility and then i'm short gamma. so generally volatility is good news, but only until a certain point
[2016-06-12 08:14:25] sq : mm ok cool
[2016-06-12 08:14:46] sq : but its profitable on average rgith
[2016-06-12 08:24:42] lockhedge : YTD after 12000 trades it's still 65% ROE in XBT (130% in USD) but it lost 13.5% in just one day
[2016-06-12 08:27:42] arbitrage001 : lockhedge: common for most traders
[2016-06-12 08:28:04] sq : yeah..
[2016-06-12 08:28:23] arbitrage001 : if you can keep 20% consistent year after year, you will become legend
[2016-06-12 08:28:30] sq : :)
[2016-06-12 08:30:36] lockhedge : arbitrage001: hft market makers make about 100% per year with a revenue capture of about 3bps, so that's my benchmark ;)
[2016-06-12 08:31:42] micmix : I do about 2% per day across multiple exchnages
[2016-06-12 08:32:14] sq : wow micmix thats impressive
[2016-06-12 08:32:53] sq : how long is your holding period avg?
[2016-06-12 08:33:36] micmix : from seconds to minutes
[2016-06-12 08:33:44] sq : sweet
[2016-06-12 08:35:16] micmix : sleger makes 5000% annually on his algo
[2016-06-12 08:35:33] lockhedge : micmix: 2% is really impressive, what's your max drawdown?
[2016-06-12 08:37:48] micmix : up to 30% on one exchanges but not much across all, I do cross-hedging
[2016-06-12 08:38:09] micmix : like skewing one long when another one short
[2016-06-12 08:40:41] micmix : okc spot has enough sell volume to go long as much as you want even during massive pump
[2016-06-12 08:43:25] lockhedge : okc usd spot?
[2016-06-12 08:43:34] micmix : btc/cny spot
[2016-06-12 08:47:13] lockhedge : but during massive pumps there's also often a massive premium in china
[2016-06-12 08:48:08] micmix : yeah, but waht can you do? it's the most liquid market
[2016-06-12 08:48:26] micmix : warning: okc pump bot on again
[2016-06-12 08:54:54] sq : micmix: how do u know? bout their pump bot
[2016-06-12 08:55:17] lockhedge : if XBTUSD is highly depended on arbitrage with xbt/cny spot (which makes sense) we might have to include a chinese spot exchange into the index
[2016-06-12 08:55:28] micmix : my MM bot inventory starts to jump like crazy
[2016-06-12 08:56:47] rapidtrades : micmix: did u sleep?
[2016-06-12 08:56:57] micmix : I announced it in chat before last pump
[2016-06-12 08:57:03] micmix : rapidtrades: nope, not yet :smile:
[2016-06-12 08:58:35] rapidtrades : micmix: when will this run up end lol
[2016-06-12 08:58:54] rapidtrades : im not complaining just curious
[2016-06-12 08:59:27] arbitrage001 : funding rate will be extremely high later
[2016-06-12 08:59:34] arbitrage001 : if premium stays
[2016-06-12 08:59:46] arbitrage001 : wonder what that will do to volume later
[2016-06-12 08:59:51] micmix : who knows, I'm taking profit when I see the okc turning the pump bot off
[2016-06-12 09:00:06] rapidtrades : micmix: oh yea? how do u know that
[2016-06-12 09:00:21] micmix : 04:55 - micmix: my MM bot inventory starts to jump like crazy
[2016-06-12 09:00:30] rapidtrades : ah
[2016-06-12 09:01:00] rapidtrades : micmix: can u post after u exit?
[2016-06-12 09:01:00] micmix : when they turn it on and it stabilizes when they turn it off
[2016-06-12 09:01:27] sq : micmix: does it have false breaks?
[2016-06-12 09:01:45] micmix : sq: what do you mean?
[2016-06-12 09:01:55] sq : like it fails to pump it up n it just collapses
[2016-06-12 09:02:08] arbitrage001 : micmix: you know that is a pump bot based on?
[2016-06-12 09:02:52] arbitrage001 : having bank not working on sunday, and pump happens almost always on weekend do look suspecious
[2016-06-12 09:03:47] yerb : funding rate increasing is not a good at all
[2016-06-12 09:04:01] yerb : people are gonna run to OKC
[2016-06-12 09:04:10] arbitrage001 : yerb: not that simple
[2016-06-12 09:04:27] arbitrage001 : many will stay for high leverage
[2016-06-12 09:04:45] arbitrage001 : retail traders like to gamble
[2016-06-12 09:04:48] arbitrage001 : like lottery
[2016-06-12 09:04:54] rapidtrades : did sleger exit will giant long
[2016-06-12 09:05:00] arbitrage001 : 1 in 7 millions chance of winning?
[2016-06-12 09:05:03] yerb : yeah, but when their profits slowly desolve i think they will do the mathe and leave
[2016-06-12 09:05:33] yerb : this is not good
[2016-06-12 09:05:44] yerb : except for bears
[2016-06-12 09:05:49] rapidtrades : yerb: rates will not be high for a long time tho
[2016-06-12 09:06:39] micmix : sq: yeah it happens, nothing is full proof
[2016-06-12 09:06:41] arbitrage001 : rapidtrades: btc lending rate was high for longerthan 2 weeks when eth rallied
[2016-06-12 09:06:42] yerb : 0.4% is not high, are you kidding?
[2016-06-12 09:06:58] lockhedge : if the new funding rate works, it should decrease the premium which decreases funding rate.
[2016-06-12 09:07:09] micmix : rapidtrades: I'll go to bed in 15 min, you're on your own tonight :-)
[2016-06-12 09:07:20] rapidtrades : no stay up jew
[2016-06-12 09:07:50] rapidtrades : don't leave me with these commoners :(
[2016-06-12 09:08:00] arbitrage001 : dude
[2016-06-12 09:08:10] arbitrage001 : unless you trader in the 100k contract range
[2016-06-12 09:08:14] arbitrage001 : trade
[2016-06-12 09:08:26] arbitrage001 : you are commoners like us
[2016-06-12 09:08:45] micmix : rapidtrades: I'm an old man, I need my sleep :-)
[2016-06-12 09:09:08] rapidtrades : i missed ur window...i just woke up after 4 hrs
[2016-06-12 09:09:16] j8 : i need sleep too. was a good day
[2016-06-12 09:09:17] rapidtrades : u missed*
[2016-06-12 09:09:37] arbitrage001 : j8: you were long also?
[2016-06-12 09:09:50] rapidtrades : guys we're pumping, u can't leave now
[2016-06-12 09:09:58] rapidtrades : what if ggwp comes back
[2016-06-12 09:10:04] j8 : i was actually 50% hedged or 0.5x long i guess
[2016-06-12 09:10:11] rapidtrades : and stinks up the room again
[2016-06-12 09:10:23] j8 : but mega long on quarterlies
[2016-06-12 09:10:55] arbitrage001 : j8: really hard to predict where future lies
[2016-06-12 09:11:03] arbitrage001 : last 2 years was good for bear
[2016-06-12 09:11:14] arbitrage001 : almost every pump, if one short, sure to make money
[2016-06-12 09:11:32] rapidtrades : arbitrage001: hard? here's a hint BUY BUY BUY BUY UP MOON SKY JUPITER
[2016-06-12 09:11:45] arbitrage001 : rapidtrades: wish trading is that easy
[2016-06-12 09:11:53] arbitrage001 : i only seen most people lose money
[2016-06-12 09:12:04] arbitrage001 : hardly seen market reward majority
[2016-06-12 09:13:08] rapidtrades : most ppl weren't long....weren't in chat yday? some that were got out around 600
[2016-06-12 09:13:09] j8 : yeah, i dunno what to think. it's breaking up hard on longer timeframes, can't call a top
[2016-06-12 09:13:54] j8 : i'll probably just keep 50% hedged until i have a better idea
[2016-06-12 09:14:58] rapidtrades : i'm starting to think testing $1000 again is an option....this prolly means rally close to fizzling out lol
[2016-06-12 09:17:43] null : j8: Im 50% hedged as well. It hurts.
[2016-06-12 09:19:24] rapidtrades : why does it hurt fela
[2016-06-12 09:19:32] null : could have been a profit
[2016-06-12 09:19:46] null : I hedged BEFORE rally
[2016-06-12 09:19:47] null : smh
[2016-06-12 09:20:04] null : base 490
[2016-06-12 09:20:07] null : now 640
[2016-06-12 09:20:46] rapidtrades : it happens...at least u weren't short like ggwp
[2016-06-12 09:21:22] rapidtrades : he got RektED and was like 'short again, this is just play monies
[2016-06-12 09:22:06] REKT : Liquidated long on `ETHXBT`: Sell 790 @ 0.02273
[2016-06-12 09:22:57] rapidtrades : micmix: did supermine use his real nick on loaderboard?
[2016-06-12 09:24:36] REKT : Liquidated long on `ETHXBT`: Sell 7 @ 0.02269
[2016-06-12 09:24:45] rapidtrades : cos he aint there anymore
[2016-06-12 09:25:01] Blargwaffle : Leaderboard needs more % leaders.
[2016-06-12 09:27:40] j8 : null: it mostly hurts if you track your profit in btc, i try to avoid that bias, but it's hard
[2016-06-12 09:28:02] null : yeah
[2016-06-12 09:28:22] null : j8: what happens with our shorts tonight at 8pm? we get credited .4%?
[2016-06-12 09:28:44] GingerDan : Finix spread is huge
[2016-06-12 09:28:50] rapidtrades : yes
[2016-06-12 09:29:59] null : if this actually brings the price down to parity there is no way to arbitrage this
[2016-06-12 09:30:28] micmix : rapidtrades: yes
[2016-06-12 09:30:32] null : it'd be funny if it doesnt work
[2016-06-12 09:30:50] rapidtrades : finex is really low yes....werd considering rates are only 0.058 ask there
[2016-06-12 09:30:54] arbitrage001 : after bitmex introduces swap contract
[2016-06-12 09:31:06] arbitrage001 : leaderboard becomes meaningless
[2016-06-12 09:31:15] rapidtrades : its not like they''re running out of monies
[2016-06-12 09:31:18] arbitrage001 : since the contract is pegged to usd
[2016-06-12 09:31:39] rapidtrades : ur right, noone uses usd
[2016-06-12 09:31:46] arbitrage001 : could lose like 100 btc and still in profit from interest
[2016-06-12 09:33:18] j8 : a guy earlier was wondering why the calculator says he would only make 2 btc on a long from 500 to 130000000 (or something)
[2016-06-12 09:33:30] j8 : a long of 1000 contracts
[2016-06-12 09:36:02] micmix : I'm off to bed, have fun guys, don't get REKT :smile:
[2016-06-12 09:36:40] lockhedge : good night
[2016-06-12 09:37:01] rapidtrades : micmix: its useless, ur alarms will go off in 5 mins
[2016-06-12 09:37:19] lockhedge : j8: max. price is set to 1000000
[2016-06-12 09:38:28] j8 : oh i see, the calculator doesn't know that. well not much difference
[2016-06-12 09:40:56] dharmabum : any admin here?
[2016-06-12 09:42:46] rapidtrades : finex needs more monies
[2016-06-12 09:43:10] Blargwaffle : Going to have to wait till Monday.
[2016-06-12 09:43:37] rapidtrades : its $5 below other usds
[2016-06-12 09:48:22] BTCDJS : rapidtrades: morning mate
[2016-06-12 09:48:49] GingerDan : The Stop Limit order does not work properly. The Stop price is based on market price, but it wont let you go long if your Stop price is below BitMEX price.
[2016-06-12 09:49:13] rapidtrades : BTCDJS: morning
[2016-06-12 09:49:49] BTCDJS : rapidtrades: would it be too presumptuous to expect another leg up? what do you reckon?
[2016-06-12 09:54:25] rapidtrades : doesn't seem done
[2016-06-12 09:54:36] rapidtrades : i don't trade short-term tho :)
[2016-06-12 09:56:37] rapidtrades : BTCDJS: do u know about the changes here?
[2016-06-12 09:57:23] BTCDJS : yeah a few people are talking about 750s But I don't just want to follow what people are saying. Im at a crossroads where my TA is saying after 650 there should be a dump. What is telling you that this is not over? I want to know what Im missing.
[2016-06-12 09:57:29] BTCDJS : No what changes?
[2016-06-12 10:04:21] BTCDJS : just read the email.
[2016-06-12 10:04:30] rapidtrades : BTCDJS: bitmex will add extra charges for longs
[2016-06-12 10:04:37] BTCDJS : damn
[2016-06-12 10:04:41] rapidtrades : to bring the swap more inline with spot
[2016-06-12 10:05:06] BTCDJS : rapidtrades: so better to go long on another exchange then
[2016-06-12 10:05:36] rapidtrades : BTCDJS: yeah i would do that until the dust settles and possibly premium goes down
[2016-06-12 10:06:07] BTCDJS : woodchipper it is then
[2016-06-12 10:06:12] j8 : ultimately the funding rate should be similar to the rate implied by the premium on okc futures, i would imagine
[2016-06-12 10:06:52] j8 : borrowing on bitfinex is definitely cheaper but it's low leverage
[2016-06-12 10:07:29] rapidtrades : also finex is rly low now at 633
[2016-06-12 10:07:58] justinlooking : putin 606
[2016-06-12 10:08:27] rapidtrades : BTCDJS: also we have active DPE here....no trading is advised until we clear it in 2 hrs
[2016-06-12 10:08:37] rapidtrades : just my opinion :)
[2016-06-12 10:09:35] BitMEX_Wally : If the premium does not come down then even after rebalance we will have fresh DPE because the liquidation order will still be there
[2016-06-12 10:10:58] rapidtrades : wait what
[2016-06-12 10:11:21] rapidtrades : but u'll be taking 18% of everyone's profit
[2016-06-12 10:11:27] REKT : Liquidated short on `XBTUSD`: Buy 5 @ 639.22
[2016-06-12 10:11:31] j8 : the liquidation will move to the rebalance price right?
[2016-06-12 10:11:41] rapidtrades : it better be gone
[2016-06-12 10:13:51] REKT : Liquidated long on `ETHXBT`: Sell 10 @ 0.02241
[2016-06-12 10:15:54] BTCDJS : well I don't have a position open yet. Still scoping out what my move is. I want to be a sure as I can be. this is still the best exchange for me in terms of leverage. How do other exchanges get away with trading at 500X?
[2016-06-12 10:17:36] REKT : Liquidated long on `ETHXBT`: Sell 697 @ 0.02228
[2016-06-12 10:17:40] BitMEX_Wally : BTCDJS: You can get 500x on major currency pairs like EURUSD etc
[2016-06-12 10:17:53] BitMEX_Wally : But XBTUSD is very volatile
[2016-06-12 10:18:17] BitMEX_Wally : I think coinpit does 500x or something crazy, but they close you out after 2 dollars of profit
[2016-06-12 10:18:34] BTCDJS : BitMEX_Wally: I never looked in to it but I thought simpleFX traded BTCUSD at 500x.
[2016-06-12 10:18:52] BTCDJS : Im probably wrong though
[2016-06-12 10:19:30] mrp1nk : BTCDJS: yeah you are wrong. 500x would get you margin called on the spread
[2016-06-12 10:19:33] BitMEX_Wally : They do 500x on commodities like oil
[2016-06-12 10:19:42] BTCDJS : oh right
[2016-06-12 10:20:41] BitMEX_Wally : From looking at simplefx they currently offer 10x leverage on Bitcoin vs UD
[2016-06-12 10:20:49] BTCDJS : So Bitmex is still the highest leverage for XBTUSD. Looks like the fees are unavoidable. So its really the nature of the beast
[2016-06-12 10:22:11] rapidtrades : fees premiums etc could mean the difference between losing and winning when ur trading short-term
[2016-06-12 10:22:34] rapidtrades : and dpe/clawbacks
[2016-06-12 10:22:40] j8 : yep, funding costs are unavoidable, at least now they'll reflect the market better
[2016-06-12 10:23:30] rapidtrades : leverage always costs extra, so one way to keep ur costs down is don't use so much of it :)
[2016-06-12 10:23:43] BTCDJS : how do the fees work for people trading at lower leverage here?
[2016-06-12 10:23:54] rapidtrades : same
[2016-06-12 10:24:12] BTCDJS : rapidtrades: but liquidation is further away
[2016-06-12 10:24:48] rapidtrades : i was talking about in general...for example bitfinex is now t 639 with lower rates to borow
[2016-06-12 10:26:16] rapidtrades : BitMEX_Wally: are u gonna move the liq at least?
[2016-06-12 10:26:23] rapidtrades : or just f*ck us over a second time
[2016-06-12 10:26:33] rapidtrades : after rebalance
[2016-06-12 10:27:01] REKT : Liquidated short on `XBTUSD`: Buy 1 @ 642.92 :punch: :whale:
[2016-06-12 10:28:00] GingerDan : https://www.tradingview.com/chart/BTCUSD/G9xxD6Ir-This-could-be-the-end-of-the-line-for-now/
[2016-06-12 10:28:15] rapidtrades : GingerDan: it isn't
[2016-06-12 10:28:52] GingerDan : Thats a nice opinion
[2016-06-12 10:29:17] rapidtrades : tnx i try
[2016-06-12 10:29:57] vbmithr : 20% DPE
[2016-06-12 10:30:19] sam : its at 20% thanks to idiots like ggwp
[2016-06-12 10:31:08] rapidtrades : if u give ppl enough leverage they'll eventually hang themselves with it
[2016-06-12 10:31:18] BTCDJS : sam: Hey thats my mate you're talking about there
[2016-06-12 10:31:32] rapidtrades : if it wasn't ggwp it would've been someone else
[2016-06-12 10:31:37] REKT : Liquidated short on `XBTUSD`: Buy 640000 @ 643.71 **REKTosaurus** :slot_machine: :moneybag: :fire:
[2016-06-12 10:31:48] rapidtrades : great, another one
[2016-06-12 10:31:54] sam : BTCDJS: don't really care
[2016-06-12 10:32:45] rapidtrades : sam: why are u making it personal? it could've been any other newb
[2016-06-12 10:32:49] arbitrage001 : holy
[2016-06-12 10:32:51] arbitrage001 : 640k?
[2016-06-12 10:33:14] rapidtrades : yes
[2016-06-12 10:33:23] rapidtrades : we just doubled the stakes gentlemen
[2016-06-12 10:33:27] sam : i hate the guy
[2016-06-12 10:33:29] sam : he spams
[2016-06-12 10:33:33] dorothy490 : 13л ;
[2016-06-12 10:33:36] dorothy490 : 13k $
[2016-06-12 10:33:40] dorothy490 : on x50 leverage
[2016-06-12 10:33:41] arbitrage001 : didnt know rich people can be stupid
[2016-06-12 10:33:58] arbitrage001 : thought that is a minimum iq level to be successful
[2016-06-12 10:34:37] micmix : rapidtrades: you were right, an alarm went off and I'm up
[2016-06-12 10:34:53] rapidtrades : micmix: told ya :)
[2016-06-12 10:34:57] sam : $600 was a huge psychological price point, could see another leg up
[2016-06-12 10:35:17] micmix : okc ppl with their crazy bots :smile:
[2016-06-12 10:35:22] arbitrage001 : sam: high price invites supply and selling
[2016-06-12 10:35:40] BitMEX_Wally : After rebalance we will move the liquidation order to the rebalance price
[2016-06-12 10:35:43] arbitrage001 : mining who giving up their mining might suddenly turn on their farm again
[2016-06-12 10:35:44] rapidtrades : micmix: now u have that crazy headache cos u only slept 30 mins or whatever
[2016-06-12 10:35:51] sam : assuming humans are rational
[2016-06-12 10:35:56] micmix : yeah
[2016-06-12 10:36:05] rapidtrades : BitMEX_Wally: all of them right? new one of 600k too
[2016-06-12 10:36:12] BitMEX_Wally : Yes
[2016-06-12 10:36:29] rapidtrades : and rebalance price would be mark
[2016-06-12 10:36:51] arbitrage001 : 1.4% premiuim
[2016-06-12 10:36:59] j8 : the premium from the new funding period will put the mark price above the rebalance price right
[2016-06-12 10:37:06] arbitrage001 : that mean funcing cost will be 1.4% if premium stays?
[2016-06-12 10:37:17] arbitrage001 : funding
[2016-06-12 10:37:23] rapidtrades : its capped, sadly
[2016-06-12 10:37:33] arbitrage001 : rapidtrades: at?
[2016-06-12 10:37:40] rapidtrades : wally will explain
[2016-06-12 10:38:01] BitMEX_Wally : Capped at 1.125% in total
[2016-06-12 10:38:08] arbitrage001 : BitMEX_Wally: ok
[2016-06-12 10:38:11] justinlooking : BitMEX_Wally: u have lil display bug on app/contract/XBTUSD
[2016-06-12 10:38:13] BitMEX_Wally : And each change can only increase by 0.375%
[2016-06-12 10:38:21] arbitrage001 : i can live with 1.125% a day for the remianing for my life
[2016-06-12 10:38:22] justinlooking : "Funding Premium Symbol"
[2016-06-12 10:38:29] arbitrage001 : of
[2016-06-12 10:38:44] sq : arbitrage001: that would work for me too XD
[2016-06-12 10:39:15] BitMEX_Wally : justinlooking: Ahh yes, that will be added after 12:00 UTC
[2016-06-12 10:39:47] arbitrage001 : BitMEX_Wally: that is 80 mins away
[2016-06-12 10:40:20] justinlooking : k m8
[2016-06-12 10:40:25] GingerDan : lets go to 644
[2016-06-12 10:40:30] GingerDan : (finex)
[2016-06-12 10:40:37] rapidtrades : this guy can tell time >>>> @arbitrage001
[2016-06-12 10:40:56] BTCDJS : GingerDan: lets go to 1000 BTC-e
[2016-06-12 10:41:32] laurenssteen : BTCDJS: you were long tonight
[2016-06-12 10:41:35] laurenssteen : ?
[2016-06-12 10:41:45] GingerDan : Lol, sure if you have a few million to buy it up
[2016-06-12 10:41:48] justinlooking : arbitrage, in a wide browser there's Rebalance countdown in top right
[2016-06-12 10:42:50] BTCDJS : laurenssteen: I was long from 575 and closed at 605.
[2016-06-12 10:43:07] laurenssteen : BTCDJS: nice
[2016-06-12 10:43:25] laurenssteen : BTCDJS: waiting for a serious drop to go long again
[2016-06-12 10:43:27] BTCDJS : laurenssteen: now I'm fomoing a small amount
[2016-06-12 10:43:47] BTCDJS : well I thought it would drop first
[2016-06-12 10:43:59] BTCDJS : but looks like its not over
[2016-06-12 10:44:18] rapidtrades : no shit
[2016-06-12 10:44:46] arbitrage001 : didnt know making money was easy
[2016-06-12 10:44:51] arbitrage001 : i was wrong
[2016-06-12 10:45:01] arbitrage001 : should have sell my house, wife and buy bitcoin
[2016-06-12 10:45:57] wingman : im out of this rektage platform
[2016-06-12 10:46:11] GingerDan : fair
[2016-06-12 10:46:14] arbitrage001 : wingman: you went short?
[2016-06-12 10:46:28] rapidtrades : emotions are high today
[2016-06-12 10:46:39] arbitrage001 : rapidtrades: yes
[2016-06-12 10:46:42] BTCDJS : rapidtrades: not ours tho
[2016-06-12 10:47:02] arbitrage001 : even long, got screwed by rekted
[2016-06-12 10:47:51] arbitrage001 : dpe of 50% not out of question
[2016-06-12 10:47:51] rapidtrades : yeah it sucks but that was always a risk here
[2016-06-12 10:48:02] arbitrage001 : with the rekt just now
[2016-06-12 10:48:08] arbitrage001 : and still running bull
[2016-06-12 10:48:15] rapidtrades : good thing about a daily is DPE can't be huge
[2016-06-12 10:48:27] arbitrage001 : rapidtrades: it is huge lol
[2016-06-12 10:48:32] justinlooking : rt?
[2016-06-12 10:48:36] rapidtrades : 20% is not huge
[2016-06-12 10:48:37] sam : plus500.com --> for anyone who wants to profit on the btc-e lag
[2016-06-12 10:48:58] rapidtrades : we had 30-35% in november
[2016-06-12 10:49:10] rapidtrades : before that there was +60% on the monthlies
[2016-06-12 10:49:34] null : oh boy, I have to quickly deposit more BTC to avoid margin call
[2016-06-12 10:49:46] null : $60 move in 1 day
[2016-06-12 10:50:09] rapidtrades : yeah its glorious
[2016-06-12 10:50:19] null : tomorrow $100 move?
[2016-06-12 10:50:30] null : if so, the question is, which way
[2016-06-12 10:50:31] rapidtrades : sure why not lol
[2016-06-12 10:50:37] justinlooking : null maybe pull some orders too if need more excess margin immediately
[2016-06-12 10:50:47] null : nah my margin call is at $800
[2016-06-12 10:51:08] null : just deposited, so unless price runs $150 in 1hr Im fine
[2016-06-12 10:51:25] justinlooking : kwl
[2016-06-12 10:51:38] BTCDJS : I think we will retrace from 690-700 Bitmex index
[2016-06-12 10:51:42] justinlooking : 4360 they are mental
[2016-06-12 10:52:17] rapidtrades : justinlooking: its only 660 brah
[2016-06-12 10:53:37] REKT : Liquidated short on `XBTUSD`: Buy 1 @ 646.53 :punch: :whale:
[2016-06-12 10:53:47] REKT : Liquidated short on `XBTUSD`: Buy 5000 @ 646.77
[2016-06-12 10:54:01] rapidtrades : hey REKT is back
[2016-06-12 10:57:39] GingerDan : theres 644 like I said, now pull back
[2016-06-12 11:00:27] arbitrage001 : let's pull it back to 200
[2016-06-12 11:00:31] GingerDan : lol
[2016-06-12 11:00:32] arbitrage001 : 150 range
[2016-06-12 11:00:49] rapidtrades : rebalance wil be fun :)
[2016-06-12 11:01:00] stf28 : 20% dpe ???
[2016-06-12 11:01:02] arbitrage001 : i would mind 20% dpe
[2016-06-12 11:01:06] arbitrage001 : wouldnt mind
[2016-06-12 11:01:10] BTCDJS : just for fun. I predict 690 then down to 550s before we moon again
[2016-06-12 11:01:13] arbitrage001 : if btc hit 200
[2016-06-12 11:02:07] GingerDan : heres the pullback.
[2016-06-12 11:05:48] stf28 : no pullback :(
[2016-06-12 11:08:50] AbuAli : im 99% ROE with only 500 conts. fuck me..
[2016-06-12 11:09:23] AbuAli : i wanted to go 15k but changed my mind :(