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<< >> English 中文 Русский 한국어 日本語 Español Français [2015-10-22 22:10:52] wurstgelee : np again [2015-10-22 22:13:08] kogroken : Is there any countdown to re-balancing/expiry visible somewhere on the site? In case I'm too lazy to convert between timezones :P If not, would be a useful feature. [2015-10-22 22:14:08] Yumi : it shows expiry in your local time [2015-10-22 22:14:10] jung1 : in order control of each contract you have Expiry: [2015-10-22 22:14:28] jung1 : in hours left [2015-10-22 22:16:21] zanza : test [2015-10-22 22:16:29] zanza : it may be interesting to have a small timer on the top to the right of XBTH16 to show the countdown [2015-10-22 22:17:04] zanza : that would reset every 24h [2015-10-22 22:17:05] kogroken : Yumi: Ah, I see there are two time values, thanks. [2015-10-22 22:18:05] zanza : oh, yeah you could just look at oh, there it is lol [2015-10-22 22:19:22] jung1 : china will break 1770 [2015-10-22 22:19:27] jung1 : ? [2015-10-22 22:19:45] kogroken : jung1: Ah yes. Unfortunately it seems that expiry countdown is only visible in the basic UI (not the advanced view) [2015-10-22 22:20:55] jung1 : oh I didnt knew that [2015-10-22 22:21:21] kogroken : I thought I remembered I saw a countdown somewhere :P [2015-10-22 22:24:06] jung1 : btw have you seen Dope? [2015-10-22 22:28:31] kogroken : nope [2015-10-22 22:29:50] jung1 : pretty good and about bitcoin [2015-10-22 22:30:16] jung1 : http://www.imdb.com/media/rm279508736/tt3850214?ref_=tt_ov_i# [2015-10-22 22:30:26] belcher : not seen it but doesnt it portray it as a drug currency ? [2015-10-22 22:30:53] jung1 : yep [2015-10-22 22:31:33] jung1 : one dude sell mdma with tor and Bitcoin and then go to ha [2015-10-22 22:31:42] jung1 : harvard [2015-10-22 22:37:29] zanza : i prefer the basic UI, the advanced seems too cluttered [2015-10-22 22:40:19] belcher : jung1 does it at least show nonillegal uses of bitcoin ? [2015-10-22 22:42:29] jung1 : only anonymous way of get paid [2015-10-22 22:42:53] jung1 : not bad movie [2015-10-22 22:45:45] jung1 : huobi try 1770 [2015-10-22 22:49:32] AudibleScience : the click to fill order controls does not work for me any more? @BitMEX_Sam [2015-10-22 22:50:30] AudibleScience : (in the your position of the order control box that is...) [2015-10-22 22:52:10] jung1 : same [2015-10-22 23:10:55] subframe : why does market price differ from orderbook/recent trades [2015-10-22 23:12:26] lockhedge : subframe: they use TradeBlock's XBX index as XBT spot https://tradeblock.com/markets/index/ [2015-10-22 23:13:30] lockhedge : makes sense for settlement to use an index based on the most liquid exchanges [2015-10-22 23:19:23] subframe : lockhedge: but how can one trade on the order book then, I will see an instant Profit or an instant loss? [2015-10-22 23:23:49] lockhedge : your <code>unrealized PNL</code> is only indicative based on the mark price, your <code>realized PNL</code> will be based on actual trades, this will be for XBT contracts held in <code>withheld profit</code> until settlement (daily on XBT24H) or rebalancing (every friday for all other DPE based contracts) [2015-10-22 23:24:11] subframe : lockhedge: ok thx! [2015-10-22 23:34:13] hashman : what the hell was that [2015-10-22 23:36:52] gustavo7 : u mean stamp? [2015-10-23 03:17:50] nostdal.org : i still don't understand this "mark price" stuff .. i mean i just longed a little, but i'm instantly down like 30% even though the price has moved up since i longed [2015-10-23 03:19:09] HotDogs : nostdal.org: The mark price determines unrealised pnl [2015-10-23 03:19:39] nostdal.org : does it also determine when i get called? .. what determines the mark price? [2015-10-23 03:19:44] BitMEX_Arthur : https://www.bitmex.com/app/dynamicProfitEqualisation [2015-10-23 03:20:21] BitMEX_Arthur : It determines when you get margin called yes, if you see your liquidation price that is dependant on the mark price [2015-10-23 03:20:30] BitMEX_Arthur : but your realised pnl depends on where you enter and exit in the market [2015-10-23 03:28:01] j8 : some big basis adjustments just now [2015-10-23 03:32:08] gaoMex : j8: If you can guess when and how the basis will be adjusted, can you profit theoretically? [2015-10-23 03:32:21] j8 : no because it's just unrealised. [2015-10-23 03:33:29] gaoMex : just curious, who adjust the basis and how? [2015-10-23 03:34:37] j8 : bitmex adjusts it from time to time to fall within the bid and ask [2015-10-23 03:35:39] gaoMex : Thanks. :) [2015-10-23 03:35:52] j8 : it's just dangerous when they adjust it infrequently by large amounts because you could be liquidated without the spot price moving at all [2015-10-23 03:37:41] gaoMex : Fair Price = Indicative Settlement Price + Fair Basis [2015-10-23 03:37:52] BitMEX_Arthur : Correct [2015-10-23 03:38:05] BitMEX_Arthur : Fair Basis is the amount in $ that the annualised Fair Basis % equates to [2015-10-23 03:38:14] BitMEX_Arthur : If you are on the advanced view, look at the instruments table [2015-10-23 03:38:19] BitMEX_Arthur : It displays all the numbers for you [2015-10-23 03:43:32] gaoMex : Cool. [2015-10-23 03:51:49] ethexio : Dumpit [2015-10-23 03:57:04] ethexio : Abandon ship [2015-10-23 07:20:09] escalicha : ethexio: are you the market maker? [2015-10-23 08:37:09] simonhorlick : fair value for the 24h is way off market, I just got immediately liquidated entering a position [2015-10-23 08:40:53] SnackyCoins : liquidations are based off of the contract's price not the index's iirc [2015-10-23 08:41:23] SnackyCoins : try disabling the margin isolation- 100x margin calls are like what.. 20 cents? [2015-10-23 08:45:34] simonhorlick : Is there a way to do that without having a position? [2015-10-23 09:01:32] wurstgelee : i think it remembers your setting [2015-10-23 10:14:10] BitMEX_Wally : simonhorlick: We reject orders that would get immediately liquidated. I have emailed you [2015-10-23 10:14:36] nickhnt : So you think it will breaks 280 or it will retrace? [2015-10-23 10:15:00] BitMEX_Arthur : nickhnt: I think China is looking strong [2015-10-23 10:15:03] BitMEX_Arthur : 280 is dust over night [2015-10-23 10:15:43] nickhnt : Maybe they are waiting for weeklyes to settle and then pump? [2015-10-23 10:16:04] BitMEX_Arthur : Yeah I think the market chills a bit [2015-10-23 10:16:10] BitMEX_Arthur : Friday night always seems to get interesting in China [2015-10-23 10:17:26] nickhnt : Yeah its been funny i sleep with a long position and when i wake up im with 100%+ lol [2015-10-23 10:30:55] ethexio : china wants to dump [2015-10-23 10:41:46] nickhnt : They are preparing the terrain [2015-10-23 10:41:58] nickhnt : For a pump I think [2015-10-23 11:20:18] gaoMex : Showing some signs of an incoming pump? [2015-10-23 11:41:58] nickhnt : The dumps got só little volume in comparison with the pumps, thats the sign I was looking at [2015-10-23 11:44:05] BitMEX_Wally : http://www.bloomberg.com/news/articles/2015-10-23/china-cuts-interest-rates-reserve-ratios-to-counter-slowdown [2015-10-23 11:44:45] gaoMex : Impact to Bitcoin? [2015-10-23 11:45:02] BitMEX_Arthur : Moon [2015-10-23 11:46:03] gaoMex : Aww... [2015-10-23 11:46:07] gaoMex : :) [2015-10-23 12:09:56] SnackyCoins : woah spooky [2015-10-23 12:10:29] SnackyCoins : clicked to place an order, got the notification, no orders appeared in the box though [2015-10-23 12:10:37] SnackyCoins : refreshing the page fixed it [2015-10-23 12:11:38] SnackyCoins : clicked the button twice and i had two orders when i refreshed was the spooky part 8) #finexmemories [2015-10-23 12:22:56] jung1 : so 1800 is new floor? [2015-10-23 12:23:18] wurstgelee : i wouldn call it that yet [2015-10-23 12:23:22] wurstgelee : *t [2015-10-23 12:23:23] Mangalica : gets sold back to it when we try to move [2015-10-23 12:23:49] jung1 : but that eu decision is huge [2015-10-23 12:24:12] jung1 : basicly all european exchanges are as legit as gemini [2015-10-23 12:24:26] Mangalica : i'd say it's expected. We did avoid a disaster, but it's not the sort of news that would warrant a 100 dollar rally or something [2015-10-23 12:25:14] jung1 : but it gives green light for every bussines to adobpt btc [2015-10-23 12:25:48] Mangalica : it doesn't extend VAT to selling BTC itself, that's really all it is, isn't it? [2015-10-23 12:25:51] jung1 : before that they did not touch it couse they did not now is it fully legit or not [2015-10-23 12:26:01] phoggersen : regulatory clarity is always good [2015-10-23 12:26:30] Mangalica : i don't see shops scrambling to adopt BTC just because of this [2015-10-23 12:26:47] jung1 : bitcoin is treaten as normal currency now [2015-10-23 12:26:57] Mangalica : i'm happy to see shops not dropping it due to low volume to be honest [2015-10-23 12:27:00] jung1 : euro, dollar, zloty, bitcoin [2015-10-23 12:27:44] macios15 : jung pl? [2015-10-23 12:28:14] jung1 : tak [2015-10-23 12:28:42] jung1 : :) [2015-10-23 12:28:45] wurstgelee : there goes 1800 [2015-10-23 12:28:49] macios15 : c+e przed chwilą zdałem :) [2015-10-23 12:29:12] macios15 : nice dump [2015-10-23 12:29:33] macios15 : head and shoulders? [2015-10-23 12:29:45] Mangalica : or an ugly double top as far as china charts go [2015-10-23 12:30:02] jung1 : macios15: propsy [2015-10-23 12:30:07] jung1 : handlujesz z trasy czy? [2015-10-23 12:30:16] macios15 : w przyszłosci pewnie tak [2015-10-23 12:30:49] macios15 : china 1784 lol [2015-10-23 12:31:07] jung1 : huobi 82.5 [2015-10-23 12:31:39] macios15 : wisdom ma laga zawsze, patrze centranlie z giełdy [2015-10-23 12:31:54] jung1 : tez [2015-10-23 12:32:41] macios15 : if 1770 dont stop it we head straight 1720 [2015-10-23 12:36:35] jung1 : 1779 [2015-10-23 12:39:40] jung1 : macios15: na bitmarkecie tez grasz? [2015-10-23 12:40:17] macios15 : jung1: kiedyś, tam za duże prowizje są, ale czasami warto wejść szczególnie w nocy bo słabo reagują [2015-10-23 12:44:37] Ontita : Damn latency! [2015-10-23 13:16:39] Ontita : <c [2015-10-23 13:16:48] Ontita : &btc [2015-10-23 13:17:02] BitMEX_Wally : Ontita: `&btc;` [2015-10-23 13:17:05] Ontita : &btc; [2015-10-23 13:17:08] BitMEX_Wally : Yep :) [2015-10-23 13:17:24] nickhnt : dump? [2015-10-23 13:18:53] zanza : is the Friday futures expiry pump over? [2015-10-23 13:20:10] nickhnt : Im smelling a dump coming hehe [2015-10-23 13:29:29] jung1 : what was the link o f that bitmex index? [2015-10-23 13:30:00] j8 : do you mean the tradeblock site [2015-10-23 13:30:10] jung1 : yeah [2015-10-23 13:30:11] j8 : https://tradeblock.com/markets/index/ [2015-10-23 13:30:12] jung1 : thanks [2015-10-23 15:59:58] jung1 : macios15: http://www.coinformacje.pl/artykuly/kontrakty-futures/ [2015-10-23 16:16:27] hashman : after the cash rebalance - shouldn't my entry price be changed on still open positions? [2015-10-23 16:27:41] zanza : they may have changed that recently, since they also changed "realised PNL" to include rebalances [2015-10-23 16:27:56] zanza : I think the new system is better [2015-10-23 18:20:41] hashman : i don't understand this new system [2015-10-23 18:21:54] hashman : how can i calculate my actual PNL now? [2015-10-23 18:22:06] hashman : realized minus unrealized? [2015-10-23 18:25:31] j8 : realised + unrealised + CashRebalance amounts from Account -> Wallet [2015-10-23 18:31:20] hashman : that seems rather confusing [2015-10-23 18:57:02] zanza : yeah [2015-10-23 19:24:05] hashman : do they have any documentation on how this works? [2015-10-23 19:24:59] hashman : Was in position on XBTH16, was in profit. After rebalance now I have same entry price but my unrealized is negative. [2015-10-23 19:29:53] lockhedge : is there an api endpoint to see fair basis or any push based notification when it changes? [2015-10-23 19:30:42] lockhedge : 1$ premium for less than 24h might also be a bit high.... [2015-10-23 19:31:40] lockhedge : result: wider spreads on XBT24H [2015-10-23 20:29:53] j8 : lockhedge: `/api/v1/instrument`, and on websocket you can subscribe to `instrument` [2015-10-23 21:19:07] hashman : after rebalance, how do I know how to calculate my PNL if the entry price doesn't change anymore [2015-10-23 21:19:40] zanza : it shows under realised? [2015-10-23 21:19:48] hashman : I sell above my entry price, but take a loss because it was reballanced earlier at I higher pice [2015-10-23 21:19:56] hashman : strange [2015-10-23 21:21:08] hashman : yeah my "profit" shows in realized as a loss in this case since it's now a loss due to the rebalance earlier at higher price... very strange [2015-10-23 21:21:13] hashman : Guess I have to get used to this [2015-10-23 21:34:48] Yumi : unrealised PNL just moves to realised PNL so thats not the problem, the issue is the PNLs are per contract not per position, so you lose the track of your current position's performance [2015-10-23 22:03:59] hashman : what Yumi said [2015-10-23 22:04:01] hashman : :) [2015-10-23 22:50:20] btc_0193 : so there's no way to tell your effective break even point after a rebalance. that's a problem [2015-10-23 22:50:45] btc_0193 : there should be an entry price and a current "entry" price after rebalances [2015-10-23 22:51:03] btc_0193 : or "effective entry price" [2015-10-23 22:51:44] Yumi : entry price doesnt change anymore at rebalance [2015-10-23 22:53:15] Yumi : so you are able to do calculations manually [2015-10-23 22:53:43] BitMEX_Sam : So there are two entry prices present on the position, but we only expose one of them [2015-10-23 22:54:01] BitMEX_Sam : `avgEntryPrice` is the entry price used for unrealised PNL calculations. It changes after rebalances [2015-10-23 22:54:22] BitMEX_Sam : `avgCostPrice`, which is what we show in the UI, is the average price you entered the position at, and isn't affected by rebalances. [2015-10-23 22:54:39] BitMEX_Sam : What [2015-10-23 22:54:57] BitMEX_Sam : What's an issue is that there is a difference between PNL you can't withdraw, PNL you can, and lifetime PNL [2015-10-23 22:55:18] BitMEX_Sam : And we're trying to find the simplest way to display this information without cluttering too much - it's a struggle between simplification and being complete [2015-10-23 22:55:43] BitMEX_Sam : I think it might help to have a "position history" page that helps users track their lifetime performance, so we can move all the historical data there and keep only the newest data on the trading page. [2015-10-23 22:56:20] Yumi : It would help for sure [2015-10-23 22:57:39] BitMEX_Sam : Also that Polish article was great @jung1. My wife is Polish, she read it to me [2015-10-23 22:57:52] Yumi : its cool I can see my cumulative profits/loses on every contract but I much rather see it for each position [2015-10-23 22:59:03] BitMEX_Sam : Right. Essentially the system was designed for single expiry contracts, so some of the PNL calculations assume that. [2015-10-23 22:59:21] BitMEX_Sam : Wally and I will have a think about how we can display the best information here - thanks everyone for talking about it, it helps us improve. [2015-10-23 23:02:15] hashman : just read all that [2015-10-23 23:02:57] BitMEX_Sam : But to clear up, realised PNL includes rebalance PNL [2015-10-23 23:03:08] BitMEX_Sam : So your total lifetime PNL on a contract is simply unrealised + realised. [2015-10-23 23:04:09] lockhedge : BitMEX_Sam: good taste btw, not only with coding Sam. my ex girlfriend is Polish too, she moved to NYC, hope we are not talking about the same woman ;) [2015-10-23 23:04:32] hashman : Got that part. But after a rebalance, how can I tell from the UI what my new entry price is to decide on my trading strategy [2015-10-23 23:04:47] hashman : should I be looking at the price at rebalance time for my new "entry price"? [2015-10-23 23:08:26] hashman : the settlement history table shows the price at settlement. That would be my new "entry price" in regards to the unrealized ROE% [2015-10-23 23:25:36] btc_0193 : great let me sit here and do some maths while the market is moving... :p [2015-10-23 23:34:20] hashman : I want to know my PNL after the rebalance, like I banked my profits and starting clean. I'm not interested in my lifetime performance on the contracts in the [2015-10-23 23:34:49] hashman : ...in the open positions tab [2015-10-23 23:39:05] btc_0193 : yeah guys please fix this soon. its incredubly difficult to trade NOT having your EFFECTIVE entry price readily available [2015-10-23 23:39:38] btc_0193 : the spread is so large too that a lot of times i compare the bids to the mark / p&l and back in to my REAL profit, but i need both numbers [2015-10-23 23:59:55] hashman : agreed with above [2015-10-24 01:16:48] nostdal.org : PNL here is nonsense .. swings by 40% for no reason [2015-10-24 01:17:13] nostdal.org : i'm in 40% profit now it says .. but if i close i'll lose based on orderbook .. AND based on last traded price [2015-10-24 01:58:22] joequant : Second comments on entry price. I need the rebalanced numbers to calculate a P/L based on my own price marks. [2015-10-24 02:16:24] zanza : i like it how it is now [2015-10-24 02:29:37] AudibleScience : me too [2015-10-24 02:30:35] V3nomspikeOG : agree, PnL makes no sense [2015-10-24 02:31:42] nostdal.org : just try to long 1 contract now .. instantly down 35% for now reason .. half way there to liquidation time for NO REASON even though bid support might be there and everything....lol [2015-10-24 02:36:18] deandunbar : You need to close with a limit. If not it calculates like you can't close [2015-10-24 02:36:58] BitMEX_Arthur : nostdal.org: That is only unrealised PNL, it is due to the mark price being lower than the market, which we will correct [2015-10-24 02:38:27] nostdal.org : yeah, i still donlt understand what mark price is [2015-10-24 02:38:32] nostdal.org : anyway, it's not your problem i guess [2015-10-24 02:41:25] BitMEX_Arthur : https://www.bitmex.com/app/dynamicProfitEqualisation [2015-10-24 02:41:32] BitMEX_Arthur : Please read the section on Fair Price Marking [2015-10-24 02:41:53] nostdal.org : i don't want shit to happen in real time i guess .. better it happen at predictable time once in a while [2015-10-24 02:42:04] nostdal.org : so shit don't move under my feet unpredictable [2015-10-24 02:42:17] nostdal.org : on other exchanges i do not trade close to settlement [2015-10-24 02:42:25] BitMEX_Arthur : basically we use this so that traders can't manipulate the book and cause margin calls [2015-10-24 02:53:35] BitMEX_Arthur : nostdal.org: Please ask any questions if you don't understand, we are trying to find better ways of explaining how this works and its benefits [2015-10-24 03:30:22] btc_0193 : the system isn't the problem, its just that i can't see my "average" entry price after settlement [2015-10-24 03:30:47] btc_0193 : i love the system that protects against margin calls since its tied to the UNDERLYING like it should be [2015-10-24 03:31:33] btc_0193 : ive been in and out all day and i have no idea what my average price has been on those trades. id have to download a csv and do a bunch of shit and thats silly [2015-10-24 05:25:47] ethexio : What's with close market telling me I can't because it'd liquidate me? [2015-10-24 05:30:13] BitMEX_Wally : ethexio: That shouldn't happen, let me invesitgate [2015-10-24 05:31:48] aethlios : BitMEX_Wally: Hello, is liq. price reliable? can I trust it as an indicator for margin call? [2015-10-24 05:32:27] BitMEX_Wally : Yes, if the mark price drops below the liquidation price then the position will be liquidated [2015-10-24 05:32:30] BitMEX_Wally : (for a long position) [2015-10-24 05:33:58] j8 : you can't trust it if you hold multiple positions without Isolate Margin though. [2015-10-24 05:37:41] BitMEX_Wally : j8: Yes, if you have a position in 2 instruments with Isolate Margin disabled then as one position loses money then the liquidation price on the other position will get worse [2015-10-24 05:37:43] aethlios : BitMEX_Wally: market price you mean fair price? and not last price, correct? (spike down etc.) [2015-10-24 05:38:23] BitMEX_Wally : Yes, mark price for XBT/XLT/ETH instruments is the fair price [2015-10-24 05:38:27] BitMEX_Wally : mark price for XBU is the last price [2015-10-24 05:38:45] aethlios : BitMEX_Wally: Great, thanks. [2015-10-24 05:39:16] BitMEX_Wally : ethexio: Please un-tick 'Isolated Margin' and then try 'Close Market'. I think I might have found the issue [2015-10-24 05:41:44] BitMEX_Wally : I meant, please tick (enable) 'Isolated Margin'. [2015-10-24 05:42:48] ethexio : BitMEX_Wally: OK, thanks. I'll try that next time. Just panicked and wanted to close asap. Lost a bit more due to not being able to market close but will try next time [2015-10-24 05:43:56] ethexio : Seems like market close, regardless of isolated margin should just close at market price though. [2015-10-24 05:45:05] BitMEX_Wally : ethexio: Close Market means close with a `Market` order, so there is no price, it will eat through the order book until the position is closed [2015-10-24 05:47:11] BitMEX_Wally : Internally we actually treat it as a `Limit` order with the limit price being your current `liquidationPrice` but when you have isolate margin disabled our risk checks are a bit too restrictive [2015-10-24 05:47:31] BitMEX_Wally : I am working to fix this [2015-10-24 05:47:47] ethexio : Ah, thought market close would start with highest/lowest price on books and use that price. If the order wasn't enough to cover all of your order then it'd move to next, until completely closed. [2015-10-24 05:48:36] BitMEX_Wally : That's the same thing really. [2015-10-24 05:48:57] BitMEX_Wally : Submitting a limit order at the liquidation price will get the best price in the order book at each level [2015-10-24 05:49:11] BitMEX_Wally : And it will be an atomic operation, so you're either fully closed or not [2015-10-24 05:49:53] ethexio : Ah, got it.just thought that's how it would have worked. Thanks for the answers, and thanks for your help! I appreciate it! [2015-10-24 05:51:07] ethexio : I also should stop panic closing :) [2015-10-24 05:51:37] BitMEX_Wally : You're welcome, we're always around to answer questions [2015-10-24 05:54:32] ethexio : I know, it's awesome. One of main reasons you're becoming my fav exchange. You're doing it right, so keep it up :) [2015-10-24 07:25:42] ethexio : BitMEX_Wally: what stack are you guys running there? Can you say, in general, without compromising operations? Just curious what you develop in, in general I guess. [2015-10-24 07:26:04] BitMEX_Wally : node.js, React, etc on the frontend [2015-10-24 07:26:20] BitMEX_Wally : Trading engine is built in kdb+ [2015-10-24 07:26:54] BitMEX_Wally : Redis to push data around [2015-10-24 07:27:45] simonhorlick : Trading engine in kdb+? You guys are masochists ;) [2015-10-24 07:28:20] BitMEX_Wally : Sure, there's learning curve with the language [2015-10-24 07:28:43] BitMEX_Wally : But it's incredibly powerful and we can implement new features quickly [2015-10-24 07:30:16] simonhorlick : It's powerful for sure, you ever see game of life in one line of q? [2015-10-24 07:31:14] BitMEX_Wally : Sounds like an Arthur special [2015-10-24 07:31:25] BitMEX_Wally : (Arthur Whitney, not Arthur_BitMEX) [2015-10-24 07:31:44] simonhorlick : :) [2015-10-24 07:32:00] BitMEX_Wally : Our code is a bit more verbose [2015-10-24 07:33:00] ethexio : BitMEX_Waly: haven't worked with kdb+ , but the rest sounds like my typical day. I'll have to read up on kdb+ [2015-10-24 07:33:26] simonhorlick : ethexio: I think they offer a free version for personal use now, you should check it out [2015-10-24 07:38:31] ethexio : Ah, it's a paid product? I'll definitely check it out, just the 5 minutes I've been reading about it I can already see how it'd fit nicely with some our projects. [2015-10-24 07:39:13] BitMEX_Wally : The Tier-1 banks all pay millions each year for site wide licenses [2015-10-24 07:39:30] ethexio : Damn [2015-10-24 07:42:28] ethexio : I need to adjust my pricing models. Per year site licenses in the millions sounds glorious.. :) [2015-10-24 07:45:02] BitMEX_Wally : Try out the 32-bit version of kdb+ and you'll fall in love with it [2015-10-24 07:45:15] BitMEX_Wally : It gives you just enough rope to shoot yourself in the foot with :) [2015-10-24 07:50:31] ethexio : It's on top of my list this weekend. Why 32bit version? Its free? [2015-10-24 07:51:23] BitMEX_Arthur : Yes it is free [2015-10-24 07:53:20] lockhedge : http://kx.com/software-download.php [2015-10-24 07:54:11] lockhedge : "be used in a commercial environment for proof of concept applications, development" [2015-10-24 11:24:33] subframe : Hi, Is this exchange more active during chinese hours? [2015-10-24 12:10:13] MystPhysX : 24h index went from 283 to 282 in a matter of seconds. What is it doing? [2015-10-24 12:10:37] nickhnt : Yeah I saw that too [2015-10-24 12:12:07] BitMEX_Arthur : The fair basis was changed [2015-10-24 12:12:11] BitMEX_Arthur : To reflect the market [2015-10-24 12:13:34] MystPhysX : Ah I see [2015-10-24 12:13:40] MystPhysX : Thanks for the response [2015-10-24 12:14:44] BitMEX_Arthur : https://www.bitmex.com/app/dynamicProfitEqualisation [2015-10-24 12:14:52] BitMEX_Arthur : If you have any questions about the mark price please read that [2015-10-24 12:54:30] lockhedge : couldn't you build the fair price out of the mid price (maybe a TWAP or VWAP) why do have to change it by hand? wouldn't a formula be more convenient and transparent? [2015-10-24 13:31:54] AudibleScience : BitMEX_Sam: when I click on the "Your Position" section of the order controls box, it no longer autofills the quantity amount with the amount of contracts you currently have... [2015-10-24 14:10:26] lockhedge : Ask on XBUZ15 (281) below spot (281.5) [2015-10-24 14:12:59] lockhedge : (now it changed to 283.98) [2015-10-24 14:15:19] lockhedge : still ask for the December XBU contract is lower than best ask on XBT24H (284.06), interesting [2015-10-24 14:15:42] BitMEX_Arthur : lockhedge: Probably due to the leverage [2015-10-24 14:15:43] BitMEX_Arthur : 5x vs. 100x [2015-10-24 14:15:56] BitMEX_Arthur : and the FOMO nature of XBT24H [2015-10-24 14:17:06] lockhedge : yes, probably :) [2015-10-24 14:20:29] j8 : 300% annualized basis, ha [2015-10-24 14:38:08] MystPhysX : Does Bitmex have an Android app? [2015-10-24 14:38:20] BitMEX_Sam : MystPhysX: No, but the site works well in a mobile browser [2015-10-24 14:39:50] MystPhysX : Oh you guys should make a webapp then [2015-10-24 14:40:08] MystPhysX : Thanks for the reply [2015-10-24 14:41:12] BitMEX_Sam : AudibleScience: We had a fix for that in testnet, I've rolled it over to production along with some Safari fixes [2015-10-24 14:41:18] BitMEX_Sam : You will have it on a refresh [2015-10-24 14:42:06] AudibleScience : thank you Sam [2015-10-24 15:21:34] SnackyCoins : Can't wait for the MEXApp, OKC's updating outside of the store + wanting mic permissions is creepy [2015-10-24 15:21:45] SnackyCoins : but it's literally the only good chart on a phone for bitcoin [2015-10-24 15:24:10] cengel : if you have a good phone with big screen the website is like an app [2015-10-24 15:24:39] SnackyCoins : bitmex on mobile is 99% as good as on a desktop, no complaints there [2015-10-24 15:24:55] SnackyCoins : but there's not charting like in okc's app [2015-10-24 15:25:36] SnackyCoins : tradingview on a phone is too crowded :( [2015-10-24 15:25:41] cengel : ya charting here is bad but thats bc they prioritise functionality [2015-10-24 15:26:14] cengel : once all that stuff is done they will improve other less important things [2015-10-24 15:29:57] SnackyCoins : i like the tradingview widget on desktop, especially now with the position marker [2015-10-24 15:30:38] cengel : i hate it [2015-10-24 16:21:30] Yumi : BitMEX_Sam: in the past if bitmex tab was in the background and I would get notification (for example that my order was filled) tab's title would change saying I have new notification but it doesnt anymore. I found it pretty useful and I miss it. Was it disabled, or is it something on my end? [2015-10-24 16:22:26] j8 : Yumi: it's probably related to a chrome update [2015-10-24 16:22:48] j8 : a lot of other people had similar issues recently with charting sites etc [2015-10-24 16:24:34] Yumi : Im not sure but I think it was gone even before that [2015-10-24 16:25:50] j8 : you also have to give the site permission for notifications. you can check at the little lock beside the url [2015-10-24 16:27:38] j8 : do you get the notifications when it's the active tab? [2015-10-24 16:27:58] Yumi : yea [2015-10-24 16:28:13] j8 : you use chrome? [2015-10-24 16:28:17] Yumi : yes [2015-10-24 16:28:34] j8 : try the beta https://www.google.com/chrome/browser/beta.html [2015-10-24 16:29:34] j8 : there's bugs in the current version in the way it sleeps background tabs [2015-10-24 16:29:50] j8 : which are fixed in the beta version [2015-10-24 16:32:17] j8 : i had the same issues with other sites that use websockets and alerts [2015-10-24 16:33:00] Yumi : I want tab's title to change if I have unseen notification [2015-10-24 16:41:10] Yumi : I tried the beta and thanks, it solved issue with bitcoinwisdom [2015-10-24 19:25:06] TrevinHofmann : I know you want to keep the number of contracts limited at the moment to focus on depth and volume, but any chance of adding contracts for difficulty? That could be invaluable for miners. It could completely remove one is the biggest variables in deciding if a piece of hardware is worth buying or building. [2015-10-24 19:25:30] TrevinHofmann : one of the biggest * (mobile) [2015-10-24 19:25:45] SnackyCoins : who would sell those? [2015-10-24 19:26:51] SnackyCoins : I mean sure, i'll speculate on it, longs only though [2015-10-24 19:32:53] j8 : that just biases the futures premium upward [2015-10-24 19:33:45] j8 : i think it's a cool idea, and yes actually useful [2015-10-24 20:51:26] zanza : Trevin, I think you could simply do that with a bitcoin hedge [2015-10-24 20:51:47] zanza : it may not be 100% perfect, but it could be pretty close [2015-10-24 20:52:41] zanza : personal opinion, they should focus on current contract liquidity first, then when they can expand, add something like SnP500/DJI/Gold/Silver and possibly even some Forex pairs [2015-10-24 20:53:09] zanza : that way they could attract traders outside of the "crypto realm" [2015-10-24 23:35:45] soup : I want to close position it wont work [2015-10-24 23:37:03] Yumi : check if you dont have different orders open on that contract (stop or limit) [2015-10-24 23:37:15] soup : lost money on a winning trade wtf [2015-10-24 23:38:12] soup : Realised PNL not added to available funds [2015-10-24 23:38:36] soup : btw the position did close eventually after trying like 7 times [2015-10-24 23:40:42] Yumi : for XBT contracts profits are withheld untill settlement/rebalance [2015-10-24 23:40:59] soup : ah ok [2015-10-24 23:41:11] zanza : even if its closed @ yumi? [2015-10-24 23:41:17] Yumi : for XBT24H its every day, for others once a week [2015-10-24 23:42:22] soup : but still I don't get why it took about 7 attempts to close a position, it kept on saying it would liquidate me. [2015-10-24 23:42:36] soup : even though it was in profit [2015-10-24 23:44:13] Yumi : Unrealised PNL shows you numbers according to Fair Price, actual price you can get at the moment in order book might be different [2015-10-24 23:45:17] Yumi : price goes up, more people trying to buy contracts so they start to trade at premium compared to underlying index [2015-10-24 23:45:59] Yumi : did you try to close your position by "close market" ? [2015-10-24 23:48:32] soup : yes [2015-10-24 23:48:54] soup : thats when the rejection message appeared [2015-10-24 23:49:50] soup : order book could have definitely filled that order [2015-10-24 23:50:13] Yumi : Maybe the lowest price in the order book was still past your liquidation price. I dont know, just a guess [2015-10-25 01:14:05] ethexio : soup: need to unselect isolate margin apparently. That's what I was told last night. They're working on it, maybe. [2015-10-25 01:27:44] BitMEX_Wally : soup: Sorry about this, we are working on a fix. The workaround is to enable isolate margin before using Close Position [2015-10-25 01:35:22] zanza : are the other months 100x leverage now? [2015-10-25 01:35:30] zanza : march/december/Oct [2015-10-25 01:35:39] BitMEX_Arthur : No they are 25x [2015-10-25 01:35:49] BitMEX_Arthur : XBT24H 100x, XBT7D 50X [2015-10-25 01:35:59] zanza : thank you [2015-10-25 02:35:55] ethexio : Order books doing weird things. Flashing, dropping a bunch or orders then they'll reappear. Bots maybe [2015-10-25 02:36:55] MystPhysX : Yeah you'll notice orders reshuffling when the Fair Price Indicator changes [2015-10-25 02:36:58] BitMEX_Wally : The spread is only 1 cent on `XBT24H` [2015-10-25 02:40:00] OriginalWolf : Can someone explain this whole thing to me real quick, like a quick rundown? [2015-10-25 02:40:14] MystPhysX : Whole what? [2015-10-25 02:40:26] MystPhysX : There's the reference in the sidebar [2015-10-25 02:40:34] OriginalWolf : This entire thing, I don't understand, I read FAQ with little success at understanding [2015-10-25 02:40:47] BitMEX_Wally : OriginalWolf: What would you like to know? [2015-10-25 02:41:16] OriginalWolf : Everything? Like, I just don't understand. Maybe it's because I can't like, project an image in my head of how exactly it is. [2015-10-25 02:41:19] OriginalWolf : Like, you know? [2015-10-25 02:41:38] BitMEX_Arthur : OriginalWolf: Do you want to go long or short Bitcoin? [2015-10-25 02:41:49] OriginalWolf : I don't understand what that means.. [2015-10-25 02:42:05] MystPhysX : So you need to understand futures first [2015-10-25 02:42:12] MystPhysX : Let me see if I have a good video [2015-10-25 02:42:14] BitMEX_Arthur : Do you think Bitcoin will go up or down in the future? [2015-10-25 02:42:16] OriginalWolf : Yeah probably, I couldn't grasp the concept of what it meant. [2015-10-25 02:42:25] OriginalWolf : I think it'll go up. [2015-10-25 02:43:09] BitMEX_Arthur : If the Bitcoin price is higher than where you bought you make monty, if it is lower you lose money [2015-10-25 02:43:27] OriginalWolf : I understand that, that's a normal stockmarket thing [2015-10-25 02:43:40] OriginalWolf : I'm not completely illiterate I just don't understand this market specifically [2015-10-25 02:44:05] BitMEX_Arthur : OriginalWolf: It is exactly the same the big difference is that what you buy and sell has an expiry date [2015-10-25 02:44:12] BitMEX_Wally : Yes, buying futures is like buying stock but at expiry they get sold automatically at the market price [2015-10-25 02:44:38] OriginalWolf : Which could be really bad right? [2015-10-25 02:45:03] OriginalWolf : Depending on the price at that moment? [2015-10-25 02:45:15] BitMEX_Wally : Could be good or bad [2015-10-25 02:45:22] BitMEX_Wally : `XBT24H` expires every day, `XBT7D` expires every Friday [2015-10-25 02:45:33] OriginalWolf : :o [2015-10-25 02:45:38] BitMEX_Wally : After it expires you can go long (buy) again [2015-10-25 02:46:06] BitMEX_Wally : With futures you can sell even if you don't have any, this is called shorting [2015-10-25 02:46:19] BitMEX_Wally : So you can profit from the price going down [2015-10-25 02:46:49] OriginalWolf : See, can you explain that a little better, I can't comprehend that? [2015-10-25 02:47:05] OriginalWolf : So at expire, you can buy the same amount back for exactly what was forced to sell basically? [2015-10-25 02:47:17] OriginalWolf : And what exactly are futures? And have any what? [2015-10-25 02:47:18] BitMEX_Wally : Yes [2015-10-25 02:49:51] BitMEX_Wally : Our futures are a way to speculate on the price of an underlying asset (i.e. Bitcoin vs US Dollar) without needing to have a large amount of Bitcoin or dollars [2015-10-25 02:50:13] OriginalWolf : Can you give an example? [2015-10-25 02:51:26] BitMEX_Wally : Sure, if you deposited 1 Bitcoin into BitMEX you could go long (buy) around 100 Bitcoin worth of `XBT24H` [2015-10-25 02:51:42] BitMEX_Wally : If the price went up 2%, you would make 2 Bitcoin [2015-10-25 02:52:01] BitMEX_Wally : If the price went down 2% you would lose everything, but only the 1 Bitcoin you put n [2015-10-25 02:52:37] OriginalWolf : But only the 1 bitcoin? So you would still have your bitcoin...? [2015-10-25 02:52:50] joequant : Bitcoin shooting up. PBC announced interest rate cuts yesterday. [2015-10-25 02:53:23] joequant : we may hit 300 [2015-10-25 02:53:25] MystPhysX : New highs on OKC and Huobi [2015-10-25 02:53:35] btc_0193 : nother run up [2015-10-25 02:53:47] btc_0193 : the only question is if we pass 318 [2015-10-25 02:53:53] BitMEX_Wally : OriginalWolf: If the price moves against you, we liquidate (force sell) your position so you only lose what you put in (i.e. 1 Bitcoin) [2015-10-25 02:54:01] btc_0193 : otherwise, i'd be 100% long right now. if ur short u gon get rekt [2015-10-25 02:54:22] OriginalWolf : They force sell if it goes down? [2015-10-25 02:54:27] OriginalWolf : That's kinda unfair isn't it? [2015-10-25 02:54:37] OriginalWolf : You can buy and sell at any time you want though right? [2015-10-25 02:54:40] btc_0193 : someone doesn't understand how margin works [2015-10-25 02:54:41] BitMEX_Wally : Yes [2015-10-25 02:54:47] OriginalWolf : You're right, I don't. [2015-10-25 02:54:58] btc_0193 : basically they let you trade with MORE than you have [2015-10-25 02:55:05] btc_0193 : you don't have to, and if you don't, they won't liquidate you [2015-10-25 02:55:34] OriginalWolf : Alright, do I have to deposit an entire bit coin? [2015-10-25 02:55:34] BitMEX_Wally : Liquidation is to prevent you going bankrupt (i.e. having losses that exceed what you put in) [2015-10-25 02:55:42] btc_0193 : but if you do basically trade "on margin", and your position moves against you by a certain amount, the engine liquidates your position to protect you AND them from you having a negative account balance [2015-10-25 02:55:42] BitMEX_Wally : OriginalWolf: No, you can deposit any amount [2015-10-25 02:55:59] OriginalWolf : What is the amount precisely? [2015-10-25 02:56:09] OriginalWolf : 3.33? so like, 30% of what you have put in? [2015-10-25 02:56:11] BitMEX_Wally : I think 0.00001 is the smallest [2015-10-25 02:56:24] btc_0193 : it depends on the margin [2015-10-25 02:56:30] btc_0193 : at 100x margin a 1% move will liquidate [2015-10-25 02:56:35] BitMEX_Wally : OriginalWolf: Have a look at `XBT24H` https://www.bitmex.com/app/trade/XBT24H [2015-10-25 02:56:42] btc_0193 : at 25% margin a 4$ move will liquidate [2015-10-25 02:56:47] btc_0193 : at 20%, 5% move... etc [2015-10-25 02:57:10] btc_0193 : take 100, divide by ur margin pct. thats the pct buffer you have before margin call [2015-10-25 02:57:57] OriginalWolf : That link isn't taking me anywhere [2015-10-25 02:58:03] MystPhysX : It just keeps going [2015-10-25 02:58:25] btc_0193 : as a holder AND a trader, this last month has been BONKERS [2015-10-25 02:58:37] btc_0193 : volatility = makin dat cash [2015-10-25 02:58:42] MystPhysX : Hey OriginalWolf, check out a video on futures on Youtube. [2015-10-25 02:58:49] MystPhysX : Then watch one on leverage [2015-10-25 02:58:50] btc_0193 : can't trade jack in a sideways mkt [2015-10-25 02:59:03] MystPhysX : That should cover everything you need to know [2015-10-25 02:59:08] BitMEX_Wally : OriginalWolf: Deposit some Bitcoin in your account, and then try buying and selling 1 contract of `XBT24H`. 1 contract is only worth 0.0029 Bitcoin [2015-10-25 02:59:50] OriginalWolf : Whats the difference between xbt and xbu, I read it but I don't get what hedging is [2015-10-25 03:00:49] OriginalWolf : and what about fees? [2015-10-25 03:01:18] OriginalWolf : I'll do it Wally as soon as bitcoin hits my account, [2015-10-25 03:01:45] BitMEX_Wally : Fees for XBT are 0.05% [2015-10-25 03:01:49] BitMEX_Wally : Fees for XBU are 0.25% [2015-10-25 03:02:44] BitMEX_Wally : Hedging is where you have some Bitcoin and want to lock in a dollar price, you can do this by selling contracts of `XBUZ15`. [2015-10-25 03:05:44] OriginalWolf : I can't find any good videos. [2015-10-25 03:07:32] MystPhysX : Well if you don't mind a text guide then this is quite decent http://www.ftpress.com/articles/article.aspx?p=360436&seqNum=3 [2015-10-25 03:08:11] BitMEX_Wally : OriginalWolf: Check out this video https://www.youtube.com/watch?v=NEMjYgPjQX0 [2015-10-25 03:09:31] BitMEX_Wally : I'm heading out now, my colleague BitMEX_Arthur will be glad to answer any questions you have [2015-10-25 03:13:32] btc_0193 : wally, y'all doin gods work ;) [2015-10-25 03:13:46] btc_0193 : thats what great customer service looks like [2015-10-25 03:17:55] MystPhysX : Who's buying just 1 contract at a time lol [2015-10-25 03:21:28] FoCheezyBreezy : Someone's bot probably. [2015-10-25 03:45:00] joequant : heading to 300 [2015-10-25 05:46:49] joequant : huobi just hit 300 [2015-10-25 05:49:06] zanza : this is insane price rise [2015-10-25 05:52:40] trillcoder : huobi looks oversold on rsi. 290 before it goes to 300 on bfx [2015-10-25 05:53:01] trillcoder : I love this volatility !! [2015-10-25 06:43:32] Scottv53 : hi trillcoder: what do you love about this volatility and how do you take advantage or profit from it? [2015-10-25 06:44:21] ayy lmao : ayy [2015-10-25 06:44:25] ayy lmao : lmao [2015-10-25 06:46:24] trillcoder : Volatility brings more drastic changes in price. I don't like the boring days on flat prices. With volatility like this make your best hypothesis of where the price is headed and go in [2015-10-25 06:50:50] priceaction : china took 300 go figure [2015-10-25 06:55:27] Scottv53 : trillcoder: what contract do you trade and what is the setup? [2015-10-25 06:55:45] Scottv53 : just wanna learn [2015-10-25 07:03:58] zanza : wew lad [2015-10-25 07:23:34] deandunbar : BitMEX_Arthur, quick question. I don't see my withheld profit amount shown. [2015-10-25 07:24:46] BitMEX_Arthur : Are you using the basic or advanced view? [2015-10-25 07:25:34] deandunbar : advanced [2015-10-25 07:25:56] BitMEX_Arthur : Look on the Advanced Margin tab [2015-10-25 07:26:03] BitMEX_Arthur : You will see it as "Withheld Profit" [2015-10-25 07:26:07] BitMEX_Arthur : as one of the line items [2015-10-25 07:29:12] deandunbar : Ok I think I see what happened. The unrealized profit/loss % calculation is on all contracts based on the original entry price. When I add more contracts it makes the profit % look like it is higher even when it could be lowering profit since it makes the average price go up [2015-10-25 07:38:34] deandunbar : BitMEX_Arthur: When I look at the wallet balance it does not match what amount is shown when adding up all the transaction history for it. I usually know I wait for settlement of a contract before it is reflected on my balance. But there is no withheld amount (even for a loss). [2015-10-25 07:39:44] BitMEX_Arthur : Are you comparing the Advanced Margin table with your Wallet Balance? [2015-10-25 07:40:00] BitMEX_Wally : deandunbar: We have changed what figures we include in the 'Realised Pnl' column so it's a bit confusing now [2015-10-25 07:40:45] BitMEX_Wally : The 'Realised Pnl' column now contains Rebalanced Pnl (which is already in the wallet) and Realised Pnl (from this week's trading). [2015-10-25 07:42:50] deandunbar : I downloaded the csv. The transaction sum should equal what is on the wallet right? [2015-10-25 07:43:10] BitMEX_Wally : So if you add up all the wallet transactions and then add the raw 'realisedPnl' figure from positions you will get `walletBalance` [2015-10-25 07:45:14] BitMEX_Wally : Have a look at the realisedPnl on `XBT24H` [2015-10-25 07:46:04] deandunbar : ohhh ok I see the amount under the closed tab [2015-10-25 07:46:19] deandunbar : Is this reflected as a transaction on the wallet ? [2015-10-25 07:46:33] BitMEX_Wally : It will not appear as a transaction until `XBT24H` settles today [2015-10-25 07:46:45] BitMEX_Wally : But, confusingly, we include this number in the `walletBalance` immediately [2015-10-25 07:46:53] deandunbar : ok gotcha. This is different than how it used to be right ? [2015-10-25 07:47:17] BitMEX_Wally : We used to not even have the wallet transactions [2015-10-25 07:47:51] BitMEX_Wally : So the wallet just contained your deposits, and then the realisedPnl cumulated on the position object [2015-10-25 07:49:08] BitMEX_Wally : So `walletBalance` has always been `transactions + realisedPnl` but now at rebalance or settlement we actually move the amount from `realisedPnl` to the transaction table. [2015-10-25 07:50:48] deandunbar : So it will still show a profit/loss after settlement as CashSettlement on the transaction history table ? [2015-10-25 07:50:57] BitMEX_Wally : Yes [2015-10-25 07:51:48] deandunbar : ok ! thank you for your help !! [2015-10-25 07:52:16] BitMEX_Wally : deandunbar: You're welcome, and thank you for checking the numbers. Exchanges should be transparent about every calculation. [2015-10-25 07:53:42] deandunbar : yall are cool. Great support and talking about transparency. all that on top of a great platform. Keep up the good work !! [2015-10-25 11:30:58] jung1 : 300 today? [2015-10-25 11:40:08] jung1 : damn no liquidity [2015-10-25 11:40:14] jung1 : again [2015-10-25 11:45:12] BitMEX_Arthur : jung1: XBT24H is in calc period for settlement [2015-10-25 11:45:16] BitMEX_Arthur : It will get better in 15min [2015-10-25 11:54:58] SnackyCoins : how long is that period? [2015-10-25 11:55:11] ayy lmao : it ends in 6 mins [2015-10-25 11:55:17] SnackyCoins : yeah but when did it start [2015-10-25 11:55:32] BitMEX_Arthur : 30min 11:30 to 12:00 GMT [2015-10-25 11:55:43] BitMEX_Arthur : 5 more minutes until the new XBT24H lists [2015-10-25 11:55:54] SnackyCoins : and the index is averaged during that period for the settlement price? [2015-10-25 11:55:59] BitMEX_Arthur : Yes [2015-10-25 11:56:02] SnackyCoins : cool [2015-10-25 11:56:05] BitMEX_Arthur : each minute is one sna [2015-10-25 11:56:06] BitMEX_Arthur : snap [2015-10-25 13:13:55] V3nomspikeOG : it wasn't clear to me that my profits were being withheld on my wallet [2015-10-25 13:14:29] V3nomspikeOG : I had a few profitable trades in a row, but my available funds remained the same [2015-10-25 13:14:43] V3nomspikeOG : had me a bit worried [2015-10-25 13:31:12] BitMEX_Wally : V3nomspikeOG: Profits are withheld until settlement or rebalancing, so they'll be available for withdrawal on Friday [2015-10-25 13:35:19] V3nomspikeOG : BitMEX_Wally: Thanks for the clarification, it took me a bit to figure that out though. Had to check my account/wallet to see that profits were being withheld. [2015-10-25 13:35:55] V3nomspikeOG : it would be helpful to have a more transparent indicator somewhere indicating the amount of profits being withheld for order purposes