Recap has a comprehensive integration with BitMEX that makes it easy to manage your crypto tax calculations. Connect your BitMEX account to Recap to import your full trading history and automate your taxes. From 2026, tax authorities are widening the automatic reporting of crypto under frameworks such as the OECD's Cryptoasset Reporting Framework (CARF), so keeping an accurate record matters more than ever.
The legal bit: The information provided in this content does not endorse BitMEX. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.
Why BitMEX tax can be difficult to calculate manually
BitMEX is built around leveraged derivatives, and that is what makes its tax position fiddly. Instead of simple buy-and-hold trades, an account produces a stream of position results and funding movements, often at high frequency. A few things tend to trip people up:
- A stream of realised profit and loss. Every time you close a perpetual, futures or options position it produces a realised trading result. An active account can generate a long run of these, each one needing to be valued and recorded.
- Funding payments. Perpetual contracts exchange funding between long and short traders at regular intervals. These show up as a steady drip of small credits and debits that are easy to overlook but still form part of your overall trading result.
- Capital or income. Profits from crypto derivatives can be treated as capital gains or as income depending on the nature and scale of your trading, so the right treatment is not always obvious and may need separate handling.
- A busy, leveraged ledger. Position results, funding, deposits, withdrawals, transfers and any spot trades all stream into one long list, and reconstructing an accurate position from it by hand is slow going.
How to import your BitMEX data into Recap
Connect your BitMEX account to Recap by API and we import your full history automatically, including the realised profit and loss on your closed positions, funding payments, deposits, withdrawals and transfers. Recap classifies and values every transaction with our fair-market valuation engine, applying the tax rules for your jurisdiction.
Auto Sync with BitMEX How are BitMEX transactions taxed?
Tax treatment depends on the transaction type and where you are tax resident. Here is how the main BitMEX activities are generally treated:
| Transaction type | CGT | Income | Tracked in Recap |
|---|---|---|---|
| Deposits | |||
| Withdrawals | |||
| Realised profit and loss on positions | |||
| Funding payments | |||
| Spot trades and conversions | |||
| Affiliate payouts | |||
| Transferring between your own accounts |
The realised profit and loss on your closed positions, together with funding payments on perpetual contracts, are where any tax mainly arises, and their treatment is one of the less settled areas of crypto tax. Depending on the nature and scale of your trading, derivative gains can be treated as capital or as income, so it is worth checking the rules for your jurisdiction with an accountant.
Refer to our tax guides for a more detailed look at crypto tax rules.
What's in your BitMEX tax report
Recap turns your full BitMEX history into a single tax report: realised gains, losses and income worked out under the rules for your jurisdiction, funding payments accounted for, every position valued, and a clear year-by-year summary you can file yourself or hand straight to your accountant.
Common BitMEX tax challenges and how Recap solves them
BitMEX accounts produce a few recurring tax problems. Here is how Recap handles each one:
- A long run of realised P&L. Closing positions at volume creates many separate gain and loss events. Recap works out the realised result on each one automatically.
- Funding payments. Perpetual funding lands as a constant stream of small credits and debits. Recap captures each one so your position is complete.
- Capital or income uncertainty. Derivative gains may be capital or income depending on your activity. Recap classifies and reports them clearly, so you and your accountant can apply the right treatment.
- Leverage and high frequency. Leveraged accounts generate long, fast-moving ledgers. Recap reconciles the full history rather than leaving you to track it by hand.
- Deposits, withdrawals and internal transfers. Recap matches transfers between your own accounts and wallets so they are not mistaken for taxable disposals.
- Historic derivatives activity. Older BitMEX accounts can contain years of positions, funding payments and transfers spread across large ledgers. Recap combines them into a single tax position so earlier activity is not overlooked.
Why BitMEX users choose Recap
BitMEX users often choose Recap because a derivatives account generates a constant stream of realised profit and loss, funding payments and transfers that is awkward to reconcile by hand. Rather than working through BitMEX's ledger entry by entry, you can connect by API and see your gains, losses and income reconciled in one report, ready to file or share with your accountant.
