# Migrating off BitMEX (2026) - Verdict

**Status: Sunset announced · Jul 23, 2026.** BitMEX has announced it is shutting down.

BitMEX is a crypto derivatives exchange launched in 2014 by Arthur Hayes and co-founders; it introduced the 100x leverage perpetual swap contract that became a standard product across the industry.

SOURCE: BitMEX official blog - https://www.bitmex.com/blog/bitmex-closure

Category: Crypto Exchanges

## What this means

A shutdown deadline has been announced. Close open positions and withdraw all funds before 23 September 2026, 04:00 UTC. From 26 August 2026, 04:00 UTC accounts enter reduction-only mode and the exchange will force-close remaining positions through the shutdown date. KYC-verified balances left after closure incur a monthly fee of USD 50 equivalent or 1% per annum, whichever is greater, so do not wait for the deadline; also download trade history for tax records while the site is still up.

## Where to go (live alternatives)

- **Bybit** - large perpetual futures venue with high leverage, closest product overlap for BitMEX derivatives traders → https://verdict.tools/go/bybit (rel="sponsored nofollow")
- **OKX** - deep derivatives liquidity plus spot and options on one platform → https://verdict.tools/go/okx (rel="sponsored nofollow")
- **Binance** - largest futures volume in the market, wide contract selection → https://verdict.tools/go/binance (rel="sponsored nofollow")
- **Kraken** - long-running regulated exchange with futures via Kraken Pro, suits users prioritizing compliance → https://verdict.tools/go/kraken (rel="sponsored nofollow")
- **Bitget** - derivatives-focused exchange with copy trading and perpetual contracts → https://verdict.tools/go/bitget (rel="sponsored nofollow")

## FAQ

### Is BitMEX really shutting down?
BitMEX has announced a shutdown as of Jul 23, 2026. SOURCE: BitMEX official blog - https://www.bitmex.com/blog/bitmex-closure

### What should I do with my data?
Close open positions and withdraw all funds before 23 September 2026, 04:00 UTC. From 26 August 2026, 04:00 UTC accounts enter reduction-only mode and the exchange will force-close remaining positions through the shutdown date. KYC-verified balances left after closure incur a monthly fee of USD 50 equivalent or 1% per annum, whichever is greater, so do not wait for the deadline; also download trade history for tax records while the site is still up.

### What is the best alternative to BitMEX?
Consider Bybit, OKX, Binance - all live.

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Canonical: https://verdict.tools/migrate/bitmex