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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
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
The Genesis of a Game-Changing Concept: 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 that had been plaguing him for months with his friend Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, including quarterly, monthly, weekly, 48-hour,…
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
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 problem with his friend Bavik, a derivatives trader. BitMEX had been experimenting with various futures contracts, but customers kept complaining about their positions closing without warning. They want…
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 or 'perp,' was born in 2015 on a Hong Kong hiking trail. Ben Delo, BitMEX co-founder and mathematician, was on a hike with Bavik, a derivatives trader, when he was struggling with a problem that had been bothering him for months. At the time, BitMEX was experimenting with various types of futures contracts, including quarterly, m…
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 or 'perp,' was born on a hiking trail in Hong Kong in 2015. Ben Delo, BitMEX co-founder and mathematician, was discussing a problem that had been bothering him for months with his friend Bavik, a derivatives trader. At the time, BitMEX was experimenting with various futures contracts, including quarterly, monthly, weekly, 48-hour…
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, co-founder of BitMEX, was struggling to find a solution to his customers' complaints about positions closing without warning. They wanted a product that combined the benefits of spot trading with the leverage of derivatives. Delo's conve…
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 trails sparked an idea that would change the face of crypto trading. Ben Delo, BitMEX co-founder and mathematician, was discussing a persistent problem with Bavik, a derivatives trader. BitMEX had tried various futures contracts, but customers complained about positions closing unexpectedly. They sought a product that mimicked spot trading but offered the leverage o…
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 was born out of frustration with traditional futures contracts, which were not meeting the needs of BitMEX's customers. Delo and his friend Bavik were discussing the limitations of quarterly, monthly, weekly, and even 24-hour futures contracts, which were not providing the leverage and flexibility that traders desired. The solution they came up with was a futures…
July 29, 2026, 1:53 p.m.