BitMEX

BitMEX

BitMEX was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed, initially as a Bitcoin derivatives exchange headquartered in Hong Kong before moving its base to Menlo Park. The firm has operated without a single loss of client funds due to security breach in 11 years (per the firm, 2025). The exchange lists perpetual swaps and futures on Bitcoin, Ethereum, and traditional assets like FX and equities, offering up to 250x leverage. BitMEX earns taker fees as low as 0.0320% and maintains a $250 million insurance fund to backstop winning trades. The platform supports copy trading via a Hyperliquid integration and institutional APIs with sub-4ms execution. Confirmed geographies include North America, Asia (Beijing, Shanghai, Nicosia) and Europe (Nicosia, London via office presence). BitMEX claims a team size of several hundred across nine offices globally but does not publicly disclose headcount. The firm operates a native token, BMEX, which offers staking rewards up to 7.5% and trading fee discounts. It also maintains an affiliate program and a bug bounty program. In May 2024, BitMEX launched a spot trading feature to complement its derivatives suite (per the firm, May 2024). BitMEX distinguishes itself through its institutional-grade trading stack — including a $250 million insurance fund and daily proof of reserves — while remaining accessible to retail traders via high leverage and zero withdrawal fees. The firm enforces a strict US Person definition, excluding American users from its platform to comply with regulations.