Add BitMex for Lending

[racydex]

BitMex is one of the best exchanges for Bitcoin Futures. It allows 100x leverage and ofcourse has a way to earn interest income, although not as straight forward as Poloniex/Bitfinex.

Information on that can be found here: https://www.bitmex.com/app/perpetualContractsGuide#Funding

A guide on manual lending on BitMex is here https://www.coinhax.com/guides/BitMEX-Funding/bitmex-btc-short-funding.html

Funding history on BitMex can be seen here: https://www.bitmex.com/app/fundingHistory

[utdrmac]

So it really isn't lending; it's shorting. You could lose a lot this way if you are not paying attention.

[racydex]

Shorting or longing as per the market. I did mention it's not straightforward. On finex/polo we only make money on interest, never lose capital. Here the risk of losing capital is there but it's limited as you can trade more than your capital using leverage. Other lending bots seem to be already testing it. So thought we should try to.

Here's a blog by BitMex Founder explaining the risks:https://blog.bitmex.com/earning-interest-income-on-xbtusd-with-minimised-risk/

[Evanito]

Will look into this and discuss its place relative to our bot. Right now my main concerns are:

• Risk of losing capital
• Extra overhead (market analysis?) and extra complexity
• Time locked (only pays if you have it at certain times)

[racydex]

Responding to @Evanito 's concerns:

• Risk of losing capital You can trade upto 100x leverage so risk of losing capital is also less. Here's a blog by BitMex Founder explaining the risks: https://blog.bitmex.com/earning-interest-income-on-xbtusd-with-minimised-risk/

• Extra overhead (market analysis?) and extra complexity Not very sure about it. The API is providing Funding historical rates and current contract prices.

• Time locked (only pays if you have it at certain times) Isn't it actually good? The bot can be programmed to open trade only few minutes before the interest payout time and close the trade as soon as paid out. Such short time frame trades may limit the possibility of losses too. This is how I understood from what I read but I could be wrong.