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Finance
The Birth 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 was conceived. Ben Delo, co-founder of BitMEX and a mathematician, was discussing a problem with a friend, Bavik, a derivatives trader. BitMEX had tried various futures contracts, but customers were unhappy with positions closing unexpectedly. They wanted a product that resembled spot trading but offered the leverage of a deri…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, a conversation on a Hong Kong hiking trail between Ben Delo, BitMEX co-founder, and his friend Bavik, a derivatives trader, led to the creation of the perpetual swap. Delo was struggling to find a solution to customers' complaints about their positions closing unexpectedly. They wanted a product that resembled spot trading but offered the leverage of derivatives. The concept of a future …
July 29, 2026, 1:53 p.m.
Finance
The Birth of a Revolution: How a Hong Kong Hike Changed Crypto Trading 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 continued to complain about positions closing without warning. They s…
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
The Genesis of a Trading Revolution: How a Hong Kong Hike Reshaped Crypto
The concept of the perpetual swap, also known as a perpetual future, was conceived in 2015 on a hiking trail in Hong Kong. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent issue with a friend, Bavik, a derivatives trader. Despite trying various futures contracts, including quarterly, monthly, weekly, and even 24-hour contracts, customers continued to express dissatisfact…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
In 2015, Ben Delo, co-founder of BitMEX, was on a hike in Hong Kong, discussing a problem that had been bothering him for months. BitMEX had been trying various futures contracts, but customers kept complaining about their positions closing without warning. They wanted a product that looked and traded like spot, but with the leverage of a derivatives exchange. Delo's friend, Bavik, a derivatives …
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Paved the Way for Crypto's Perpetual Swap
In 2015, a casual conversation between Ben Delo, BitMEX's co-founder, and a friend named Bavik on a Hong Kong hiking trail, laid the groundwork for the perpetual swap, a financial instrument that would forever change the landscape of cryptocurrency trading. Frustrated by the limitations of traditional futures contracts, Delo sought a solution that would provide traders with the leverage they crav…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, a conversation on a Hong Kong hiking trail led to the creation of the perpetual swap, a financial product that would change the face of crypto trading. Ben Delo, co-founder of BitMEX, was discussing a problem with his friend Bavik, a derivatives trader. Customers were complaining about their positions closing without warning, and Delo was determined to find a solution. The idea of a futu…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading Forever
In 2015, during a hike in Hong Kong, the concept of the perpetual swap 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 complained about positions closing unexpectedly. They wanted a product that resembled spot trading but offered the leverage of derivatives. Delo…
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Crypto Revolution: How a Hong Kong Hike Redefined 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, BitMEX's co-founder and a mathematician, was on a hike with Bavik, a derivatives trader, grappling with a problem that had been bothering him for months. BitMEX had experimented with various futures contracts - quarterly, monthly, weekly, 48-hour, and even 2…
July 29, 2026, 1:53 p.m.