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Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, a hike in Hong Kong's trails marked the birth of the perpetual swap, also known as a perpetual future or 'perp' for short. Ben Delo, BitMEX's co-founder and a mathematician, was on this hike with Bavik, a derivatives trader, grappling with a problem that had been bothering him for months. BitMEX had tried various approaches - quarterly, monthly, weekly, and even 24-hour futures contracts…
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
How a Hong Kong Hike Led to a Revolutionary Change in Crypto Trading
The concept of the perpetual swap, also known as a perpetual future or 'perp,' was born in 2015 on a hiking trail in Hong Kong. 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 complained about positions closing without warning. They wanted a product that resembled spot tr…
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 the perpetual swap, also known as a perpetual future or 'perp,' was conceived. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent issue with a friend named Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers complained about positions closing without warning, seeking a pr…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, on a Hong Kong hiking trail, the concept of a perpetual swap, also known as a perpetual future or 'perp,' was conceived. Ben Delo, a mathematician and BitMEX co-founder, was discussing a persistent issue with a friend named Bavik, a derivatives trader. BitMEX had tried various approaches, including quarterly, monthly, weekly, and 48-hour futures, as well as a contract that lasted just 24…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
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, a mathematician and co-founder of BitMEX, was discussing a problem with his friend Bavik, a derivatives trader, that had been bothering him for months. BitMEX had tried various approaches, including quarterly, monthly, weekly, 48-hour, and 24-hour futures co…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
In 2015, on a hiking trail in Hong Kong, the concept of the perpetual swap, also known as a perpetual future or 'perp,' was born. Ben Delo, BitMEX co-founder and mathematician, was discussing a problem with a friend, Bavik, a derivatives trader. BitMEX had tried various futures contracts, but customers kept complaining about positions closing without warning. They wanted a product that resembled …
July 29, 2026, 1:53 p.m.
Finance
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
In 2015, a casual conversation between Ben Delo, co-founder of BitMEX, and his friend Bavik, a derivatives trader, on a hiking trail in Hong Kong, sparked an idea that would change the face of crypto trading forever. Delo had been struggling to find a solution to a problem that had been plaguing his customers - the constant closure of their positions without warning. The answer, it seemed, lay in…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolution: How a Hong Kong Hike Paved the Way for Crypto Trading
In 2015, a hike in Hong Kong's trails led to the conception of the perpetual swap, a financial product that would forever alter the landscape of crypto trading. Ben Delo, BitMEX's co-founder and a mathematician, was grappling with a problem that had been plaguing him for months. Customers were frustrated with their positions closing unexpectedly, seeking a product that combined the benefits of sp…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolution: How a Hong Kong Hike Paved the Way for a Crypto Trading Breakthrough
The concept of the perpetual swap, also known as a perpetual future, was conceived on a hiking trail in Hong Kong in 2015. 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 with positions closing unexpectedly. They desi…
July 29, 2026, 1:53 p.m.