BitMEX is shutting down: where its traders go next
BitMEX is no longer taking new positions. It shuts permanently on 23 September 2026 at 04:00 UTC. HDR Global Trading announced the closure on 23 July 2026, ending an 11 year run for the venue that invented the perpetual swap. New account registrations have already stopped. From 26 August 2026 you can only reduce positions, not open them. Any position still open at the shutdown is closed automatically.
If you traded there, you have two decisions to make: get your funds out, and pick where to trade next. This page is about the second one, answered with live fee data rather than opinion.
The wind-down timeline
- 23 July 2026: closure announced, new registrations stopped.
- 26 August 2026: no new positions. Reductions only.
- 23 September 2026, 04:00 UTC: platform closes, remaining positions auto-closed.
BitMEX has said that assets left behind after closure attract an ongoing custody fee, so withdrawing is not something to leave until the last week.
What BitMEX charged, for comparison
At the base tier BitMEX published 0.050% maker / 0.050% taker on perpetual futures and 0.050% maker / 0.050% taker on spot. Use that as your yardstick: anything below it is a cost improvement, anything above it is a step back.
Perp venues ranked by taker fee
Every venue FeeEdge tracks, ranked by published base-tier perpetual futures taker fee, cheapest first. These are entry-tier rates: your own tier depends on 30 day volume.
| # | Exchange | Maker | Taker | |
|---|---|---|---|---|
| 1 | Locked venue | |||
| 2 | Locked venue | |||
| 3 | Locked venue | |||
| 4 | Locked venue | |||
| 5 | Locked venue | |||
| 6 | 0.020%† | 0.040%† | Open account | |
| 7 | 0.000% | 0.040% | Open account | |
| 8 | 0.015%† | 0.045%† | Open account | |
| 9 | 0.040%† | 0.045%† | Open account | |
| 10 | 0.020% | 0.050% | Open account | |
| 11 | 0.020% | 0.050% | Open account | |
| 12 | 0.020%† | 0.050%† | Open account | |
| n/a | 0.050% | 0.050% | BitMEX is shutting down on 23 September 2026. New positions stop 26 August. Close positions and withdraw before then. |
† Conditional VIP tiers are excluded from the volume-only estimate. Confirm your account eligibility.
† VIP counts spot volume in full and ordinary USDT perpetual volume at 0.4 times notional. GT discount is only modeled for entry spot.
† VIP uses 14-day volume, estimated from 30-day volume assuming evenly distributed activity. Hyperliquid spot volume counts twice.
† VIP uses 14-day volume, estimated from 30-day volume assuming evenly distributed activity. Hyperliquid spot volume counts twice.
The cost the table above does not show
On perps, the maker/taker fee is rarely the biggest number. Funding is paid roughly every 8 hours to hold a position, and it varies by venue. Over the last 29 days, across the 19 venues with a full history window, we measured longs paying to hold on 18 of 19, and roughly a 11% annualized gap between the cheapest and most expensive venue to hold a BTC long. That spread is wider than the fee differences most people compare when they switch.
The practical result: the cheapest venue to trade is often not the cheapest to hold. If you are moving off BitMEX and you hold positions for more than a few hours, check funding before you commit. The funding heatmap shows the last 7 days across every tracked venue, and the funding board ranks them live.
Picking your replacement
There is no single cheapest exchange, which is the whole reason FeeEdge exists. The venue that wins depends on your monthly volume, how much you trade as maker versus taker, whether you hold positions, and whether you use a native-token discount. Two traders leaving BitMEX on the same day can have different correct answers.
Rank all 33 venues for how you actually trade →
FAQ
Is BitMEX shutting down?
Yes. BitMEX announced on 23 July 2026 that it closes permanently on 23 September 2026 at 04:00 UTC. Registrations have stopped, new positions end 26 August 2026, and open positions are closed automatically at shutdown.
What should I do with funds still on BitMEX?
Close positions and withdraw before 23 September 2026. BitMEX has said assets left after closure are subject to an ongoing custody fee, so leaving them is not cost free.
Which exchange is the best BitMEX alternative?
It depends on how you trade. Several venues match or beat BitMEX's base-tier fees, but funding often matters more than the fee, and volume tiers move the answer again. Run your own numbers in the calculator rather than taking a generic ranking.
Are my funds safe until then?
BitMEX has stated that assets remain under user control during the wind-down. This page is about trading costs, not custody advice. Withdraw early rather than late.
Related
Fee figures are published base-tier rates, refreshed daily, and each exchange row carries its own date. Estimates only, not financial advice.