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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 Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, a hike in Hong Kong's countryside led to the creation of the perpetual swap, a financial product that would change the face of crypto trading. Ben Delo, BitMEX co-founder, was on a hike with friend and derivatives trader Bavik, grappling with the issue of expiring futures contracts. Customers were complaining about positions closing without warning, and Delo was determined to find a solu…
July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
In 2015, a hike in Hong Kong's countryside led to the creation of the perpetual swap, also known as a perpetual future or 'perp.' Ben Delo, BitMEX co-founder and mathematician, was discussing a problem with Bavik, a derivatives trader. BitMEX had tried various futures contracts, but customers complained about positions closing without warning. They wanted a product that resembled spot trading but…
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 in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent problem with a friend, Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers complained about positions closing unexpectedly. They sought a produc…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, Ben Delo, co-founder of BitMEX, embarked on a hike in Hong Kong with a friend, Bavik, a derivatives trader. During their walk, Delo was pondering a problem that had been plaguing him for months. BitMEX had been experimenting with various types of futures contracts, but customers were consistently complaining about their positions closing without warning. They wanted a product that mimick…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed Crypto Forever
In 2015, during a hike in Hong Kong, the concept of the perpetual swap, also known as a perpetual future or 'perp,' was conceived. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent problem with a friend, Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers continued to express frustration over positions closing without warning…
July 29, 2026, 1:53 p.m.
Finance
The Birth of a Revolution: How a Hong Kong Hike Paved the Way for Crypto Trading's Future
The concept of the perpetual swap, a groundbreaking financial product, was conceived on a hiking trail in Hong Kong in 2015. Ben Delo, a mathematician and BitMEX co-founder, was brainstorming with friend and derivatives trader Bavik, seeking a solution to the frustrations of quarterly, monthly, and weekly futures contracts. Customers were dissatisfied with positions closing without warning, and D…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, on a hiking trail in Hong Kong, the concept of a perpetual swap, also known as a perpetual future, was conceived. Ben Delo, a mathematician and co-founder of BitMEX, was walking with a friend named Bavik, a derivatives trader, grappling with a problem that had been bothering him for months. BitMEX had been experimenting with various types of futures contracts, including quarterly, monthl…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
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July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
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, BitMEX co-founder and mathematician, was discussing a problem that had been plaguing him for months with his friend Bavik, a derivatives trader. BitMEX had tried various approaches, including quarterly, monthly, weekly, and 48-hour futures contracts, but n…
July 29, 2026, 1:53 p.m.