Bitget to adjust the calculation of USDC-M perpetual futures index price from USD to USDC

To enhance the trading experience, Bitget will adjust the calculation of the USDC-M perpetual futures index price from being denominated in USD to being denominated in USDC. This adjustment will take effect on January 15, 2025 (UTC+8).

Key adjustments

• Index price and mark price: The index price and mark price of USDC-M perpetual futures will now be denominated in USDC.

• Order book prices: Order book prices for USDC-M perpetual futures will also be denominated in USDC.

The table below outlines the changes in pricing units following this adjustment:

Summary of impact

• Effect on pricing: Once the index price changes from USD to USDC, the mark price will follow suit, and unrealized PnL will be recalculated based on the updated mark price.

• Initial margin and maintenance margin: The initial margin and maintenance margin will continue to be calculated and denominated in USDC.

• Settlement unaffected: All other settlement processes, apart from unrealized PnL, will remain unchanged to ensure a smooth trading experience.

Note:

• Please ensure that your app is updated to the latest version. iOS users should update to version 2.49.0, and Android users to version 2.49.0.

• Before the app update, the app may display the index price and mark price in USD; however, this will not impact actual trade settlements.

• To ensure a smooth trading experience, we recommend keeping your app up to date.

Thank you for your support and understanding.

Risk warning:

Cryptocurrencies are subject to high market risk and volatility despite high growth potential. Users should conduct their own research and invest at their own discretion. Bitget shall not be liable for any investment losses.