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Finance
How a Hong Kong Hike Revolutionized 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 nagging issue with a friend, Bavik, a derivatives trader. BitMEX had experimented with various futures contracts, but customers consistently complained about positions closing without warning. They desi…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hiking Trip Revolutionized Crypto Trading
None
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 or 'perp,' was conceived. Ben Delo, co-founder of BitMEX and a mathematician, was discussing a problem with a friend named Bavik, a derivatives trader. BitMEX had tried various approaches, including quarterly, monthly, weekly, and even 24-hour futures contracts, but customers continued to co…
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 sparked an idea that would change the face of cryptocurrency trading. Ben Delo, co-founder of BitMEX, was discussing a problem with his friend Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, but customers were consistently complaining about their positions closing unexpectedly. They wanted a product that combine…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Revolutionized Crypto Trading
None
July 29, 2026, 1:53 p.m.
Finance
The Genesis of a Revolutionary Trading Concept: How a Hong Kong Hike Changed the Crypto Landscape Forever
In 2015, a hike in Hong Kong's countryside became the unlikely catalyst for a groundbreaking concept in cryptocurrency trading. Ben Delo, BitMEX's co-founder and a skilled mathematician, was accompanied by Bavik, a derivatives trader, as they pondered a persistent problem. Despite experimenting with various futures contracts, including quarterly, monthly, weekly, and even 24-hour contracts, custo…
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
How a Chance Encounter on a Hong Kong Hike Revolutionized Crypto Trading
The concept of a perpetual swap was first conceived in 2015 when Ben Delo, co-founder of BitMEX, was on a hike in Hong Kong with his friend Bavik, a derivatives trader. Delo was struggling to find a solution to the issues with traditional futures contracts, which were not meeting the needs of BitMEX's customers. The customers wanted a product that could provide leverage without the hassle of expi…
July 29, 2026, 1:53 p.m.
Finance
How a Hong Kong Hike Led to a Revolutionary Change in Crypto Trading
In 2015, Ben Delo, a mathematician and co-founder of BitMEX, was on a hike in Hong Kong, discussing a problem that had been plaguing him for months. His friend Bavik, a derivatives trader, suggested that a futures contract that never expired could be the solution. However, this would theoretically make the contract's value infinite. Bavik proposed charging traders the bitcoin overnight rate to mi…
July 29, 2026, 1:53 p.m.
Finance
The Birth of a Crypto Trading Revolution: How a Hong Kong Hike Changed Everything
The idea for the perpetual swap was born out of frustration with traditional futures contracts, which were expiring too quickly and causing customer positions to close without warning. Ben Delo, co-founder of BitMEX, was on a hike with a friend, Bavik, when he asked, 'What if a future never expired?' Bavik's response, 'Mathematically, it would be worth infinity,' sparked an idea that would change…
July 29, 2026, 1:53 p.m.