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How a Hong Kong Hike Revolutionized Crypto Trading
In 2015, on a hike in Hong Kong, the concept of a perpetual swap, also known as a perpetual future, was conceived. Ben Delo, BitMEX co-founder and mathematician, was discussing a problem with a friend, Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, but customers kept complaining about positions closing unexpectedly. They wanted a product that resembled …
July 29, 2026, 1:53 p.m.
Finance
The Birth of a Revolutionary Trading Concept: How a Hong Kong Hike Changed Crypto Forever
In 2015, a hike in Hong Kong's countryside led to the conception of the perpetual swap, a financial instrument that would go on to transform the crypto trading landscape. Ben Delo, a mathematician and BitMEX co-founder, was on a hike with his friend Bavik, a derivatives trader, when he posed a question that would change everything: "What if a future never expired?" The answer, "mathematically, it…
July 29, 2026, 1:53 p.m.
Finance
The Birth of a Revolutionary Trading Concept: How a Hong Kong Hike Changed Crypto Forever
The concept of the perpetual swap, also known as a perpetual future or 'perp', was conceived on a hiking trail in Hong Kong in 2015. Ben Delo, a mathematician and co-founder of BitMEX, was discussing a problem that had been plaguing him for months with his friend Bavik, a derivatives trader. BitMEX had been experimenting with various types of futures contracts, but none of them seemed to be worki…
July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
The concept of a perpetual swap, also known as a perpetual future or 'perp,' was born out of a problem that had been plaguing BitMEX. Despite offering various futures contracts with different expiry dates, customers continued to express frustration over their positions being closed without warning. They desired a product that combined the benefits of spot trading with the leverage of derivatives.…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
The concept of the perpetual swap, also known as a perpetual future, was born on a hiking trail in Hong Kong in 2015. Ben Delo, BitMEX co-founder and mathematician, was discussing a problem with his friend Bavik, a derivatives trader. BitMEX had tried various futures contracts, but customers were unhappy with positions closing unexpectedly. Delo asked, "What if a future never expired?" Bavik repl…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
In 2015, a hike in Hong Kong led to the creation of the perpetual swap, a financial product that changed the face of crypto trading. Ben Delo, co-founder of BitMEX, was on a hiking trail with a friend, Bavik, a derivatives trader, when he posed a question that would alter the course of cryptocurrency history: 'What if a future never expired?' The answer led to the development of a groundbreaking …
July 29, 2026, 1:53 p.m.
Finance
How a Single Hike in Hong Kong Revolutionized Crypto Trading Forever
In 2015, a hike in Hong Kong's trails led to the birth of a groundbreaking concept - the perpetual swap, also known as a perpetual future or 'perp'. Ben Delo, co-founder of BitMEX and a mathematician, was on this hike with Bavik, a derivatives trader, grappling with the challenges of creating a futures contract that met the needs of their customers. The goal was to design a product that resembled…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Face of Crypto Trading
The concept of the perpetual swap, also known as a perpetual future or 'perp,' was conceived in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was pondering a problem that had been plaguing him for months while walking with his friend Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, including quarterly, monthly, weekly, 48-h…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Crypto Landscape
The concept of the perpetual swap, a groundbreaking financial product, was conceived on a hiking trail in Hong Kong in 2015. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent issue with a friend, Bavik, a derivatives trader. Despite experimenting with various futures contracts, including quarterly, monthly, and weekly options, customers continued to express frustration ov…
July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Paved the Way for a Crypto Trading Revolution
The concept of the perpetual swap, a pivotal innovation in crypto trading, was born on a hiking trail in Hong Kong in 2015. Ben Delo, co-founder of BitMEX and a mathematician, was discussing a persistent problem with a friend, Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, but customers were consistently dissatisfied with positions closing unexpectedly.…
July 29, 2026, 1:53 p.m.