BitMEX to Delist SPYUSDT Derivatives on 11 Jun 2026
BitMEX announced it will delist the SPYUSDT derivatives contract on 11 Jun 2026. Trading continues until 04:00 UTC, then funding-rate calculations stop and the contract moves to early settlement at 12:00 UTC.
During the settlement window (T settle), trading ceases and all open orders are canceled. BitMEX exchanges funding based on the prior eight hours’ Funding Rate (F0): if F0 > 0, longs pay shorts; if F0 < 0, shorts pay longs. BitMEX says it charges no settlement fees and will close all open SPYUSDT positions using the relevant settlement prices.
After expiry, SPYUSDT profit and loss from the contract’s lifetime is added to users’ Bitcoin/Tether balances, and SPYUSDT no longer appears in the Positions section. The delisting is attributed to insufficient trading interest. The notice also covers SPYUSDT .BSPYT30M with the same timeline and mechanics, and users are urged to check the Exchange Guide or contact Support.
Neutral
This is a contract-specific delisting on BitMEX, not a change to spot markets. For traders, the key near-term effect is operational: SPYUSDT trading stops at 04:00 UTC, funding-rate mechanics end, and positions are forcibly settled at 12:00 UTC with open orders canceled. That can create localized volatility around the cutoff/settlement window for SPYUSDT liquidity, but the news does not directly imply a broader directional move in Bitcoin or USDT-linked markets.
Longer term, the removal of SPYUSDT and its referenced variant (SPYUSDT .BSPYT30M) may reduce available derivative exposure and liquidity for that instrument class, which can marginally shift activity to other BitMEX contracts. Because BitMEX closes positions using defined settlement prices and charges no settlement fees, the main impact is more about execution/risk management than a sustained bullish or bearish signal.
Overall, expect neutral price impact on the mentioned cryptocurrency exposure, with short-term attention needed for SPYUSDT funding and settlement timing.