A new listing – 100SATSUSD – featuring SATS (Ordinals) – the smallest unit of Bitcoin – is now available to trade on BitMEX, and with up to 10x leverage. 100SATSUSD Contract SpecsAs with all quanto contracts, the 100SATSUSD contract has a fixed Bitcoin multiplier, regardless of the 100SATSUSD price. This allows traders to long or short the 100SATSUSD exchange rate without ever touching SATS or USD. Traders can post margin in XBT, and earn or lose in XBT as the 100SATSUSD rate changes. This quanto risk premium may be one of the factors that results in the 100SATSUSD swap trading at a premium/discount to the 100SATSUSD spot price.