BitMEX Is Closing September 23, 2026: Timeline and How to Withdraw Before the Deadline

BitMEX — the exchange that launched the 100x-leverage perpetual swap in 2016 — is closing. Its owner and operator, HDR Global Trading Limited, announced on July 23, 2026 that BitMEX will shut down all operations on September 23, 2026 at 04:00:00 UTC following a strategic review. If you hold funds or open positions on BitMEX, this page walks through the timeline and how to withdraw before the deadline.

▶ Moving your derivatives trading? Create a WEEX account ・ Jump to the withdrawal steps

Update — the reduce-only clock starts on August 26: From 26 August 2026 at 04:00:00 UTC BitMEX applies risk limits that stop new positions being placed, so from that moment you can only reduce what you already hold. From then until the Closure Time it force-closes existing open positions to wind the market down in an orderly way, and anything still open at 23 September 2026 at 04:00:00 UTC is force-closed immediately. The two dates decide different things: August 26 decides whether you exit on your own terms, September 23 decides only whether your funds are still sitting on the platform. And the wind-down is already mechanical rather than merely scheduled — on 10 August 2026 at 12:00 UTC BitMEX delisted and settled the XRPU26, ADAU26, ETHU26 and XBTUSDTU26 futures early, against an original settlement date of 25 September 2026. If BitMart is also on your list, its own deadline lands the same morning, three hours earlier: BitMart discontinues all trading at 01:00 UTC on August 26.

The important thing first: BitMEX says its proof of reserves shows platform liabilities are fully covered by customer assets, and accounts stay accessible for withdrawals even after trading ends. Your funds are not described as at risk — but there is a firm deadline, an earlier force-close date, and a fee for anything left behind, so it pays to act early rather than at the last minute.

BitMEX shutdown timeline

• July 23, 2026 — announcement; new account registrations halted immediately.
• August 26, 2026, 04:00:00 UTC — risk limits apply: no new positions can be opened and existing ones can only be reduced. From this point BitMEX systematically force-closes remaining open contracts through to the shutdown.
• September 23, 2026, 04:00:00 UTC — all trading ends. Remaining positions are force-closed. Accounts remain open for one purpose only: viewing balances and withdrawing funds.

The withdrawal deadline and the fee for waiting

Withdraw your assets before September 23, 2026, 04:00:00 UTC. Funds left on the platform after the deadline are still withdrawable, but they incur a fee: $50 or an annualized 1% of the assets, whichever is greater, charged monthly. Because open positions start being force-closed on August 26, the practical window to trade out on your own terms is even shorter than the September date suggests.

How to withdraw from BitMEX before the deadline

1. Log in to BitMEX and review your open positions and balances.
2. Close any open positions yourself while you still can — before the August 26 force-close begins — so the exit price is your decision, not an automated one.
3. Make sure your identity verification and withdrawal settings are current, so a withdrawal is not held up at the deadline.
4. Withdraw your assets to a destination you control — a self-custody wallet, or a deposit address at the exchange you are moving to.
5. Confirm the funds have arrived at the destination before the deadline. Leave margin for network confirmation times.

If you are moving to keep trading perpetual futures, you can send your assets to the exchange you choose next. See where derivatives traders are going after BitMEX for what to look for in a replacement venue.

Continuing to trade derivatives after BitMEX

BitMEX users are derivatives traders first, and the main task after a withdrawal is finding a venue that offers the perpetual futures you actually trade. WEEX is a crypto derivatives exchange built around perpetual futures. Products are price exposure with leverage — leverage amplifies losses as well as gains, and derivative and tokenized products are designed to track a price and can deviate from it; understand these risks before trading. If WEEX fits, you can open an account and complete verification, deposit USDT, and check the futures market listing for the contracts available.

FAQ

When exactly does BitMEX shut down?

September 23, 2026 at 04:00:00 UTC. Trading ends then; after that, accounts are for viewing balances and withdrawing only.

Is my money on BitMEX safe?

BitMEX states its proof of reserves shows platform liabilities are fully covered by customer assets, and that funds remain withdrawable after trading ends. The reason to act early is the deadline, the August 26 force-close, and the monthly fee on funds left after September 23 — not a stated risk to the funds themselves.

What happens if I do not withdraw in time?

You can still withdraw after the deadline, but funds left on the platform are charged $50 or an annualized 1%, whichever is greater, each month.

Can I still open new positions?

No. From August 26, 2026 at 04:00:00 UTC BitMEX applies risk limits that block new positions — you can only reduce what you already hold — and from that point it force-closes existing positions through to the September 23 shutdown.

Where can I trade perpetual futures after BitMEX?

Any derivatives exchange that lists the perpetual contracts you trade. WEEX is one futures-first option; compare venues on liquidity, contract coverage, fees and security before moving. You can create a WEEX account here.

Why is BitMEX closing — is it bankrupt?

No bankruptcy has been claimed. BitMEX's operator, HDR Global Trading, announced the closure following a strategic review — a business decision. BitMEX states that its proof of reserves shows platform liabilities fully covered by customer assets, and withdrawals remain open until the September 23, 2026 deadline.

Is this related to BitMart also closing?

No — they are separate events that happened to land in the same week. BitMart announced its own wind-down on July 26, 2026, three days after BitMEX, citing its own business reasons. If you also hold funds on BitMart, see the BitMart closure timeline and withdrawal guide.

This content is for information only and is not investment advice. Trading derivatives with leverage carries a high risk of loss.

Related

• Where derivatives traders can go after BitMEX
• WEEX perpetual futures market listing
• Open a WEEX account
• How to Switch Crypto Exchanges Safely: Withdrawal Checklist and Choosing Your Next Venue