Over the last few weeks, there’s been a lot of attention focused on bitcoin cash (BCH) doubling in value and the $10 million worth of BCH-based futures being swapped on the Crypto Facilities platform every month. Last month, Crypto Facilities saw close to $50 million in BCH contracts. Since then, the popular Huobi exchange has also added BCH future contracts and traders can now take both long and short positions using the Huobi Derivative Market (Huobi DM).
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Huobi’s Derivative Market Adds Bitcoin Cash Futures Contracts
Interest in BCH derivative products has spiked considerably and bitcoin cash spot prices have been on a tear. On April 11, Huobi added BCH to the firm’s derivative listings and users can now short or long the decentralized cryptocurrency in order to bolster arbitrage and hedging positions. Huobi DM has done well since launching in Q4 of 2018 by offering weekly, bi-weekly, and quarterly cryptocurrency-based futures contracts. Previously the exchange only offered derivatives contracts for bitcoin core (BTC), ethereum (ETH), eos (EOS), litecoin (LTC), and ripple (XRP).
For the newly added BCH contracts, Huobi DM will offer a fee structure for BCH at 0.02% to open or close for makers and 0.03% to open or close for takers. Like traditional derivative platforms, the BCH futures will have price, order, and position limits. Moreover, the exchange provides real-time risk supervision, constant monitoring of contract prices, index prices, abnormal transactions, and positions. “With our sophisticated price limit mechanism, no clawback has occurred since its launch,” Huobi explained during the launch, adding:
Inclusion on Huobi DM means traders will be able to take both
