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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001306166-10-000001.txt : 20100312
<SEC-HEADER>0001306166-10-000001.hdr.sgml : 20100312
<ACCEPTANCE-DATETIME>20100312105949
ACCESSION NUMBER:		0001306166-10-000001
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100312
DATE AS OF CHANGE:		20100312
EFFECTIVENESS DATE:		20100312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Whitebox Intermarket Fund, Ltd.
		CENTRAL INDEX KEY:			0001306166
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-127922
		FILM NUMBER:		10676302

	BUSINESS ADDRESS:	
		STREET 1:		TRIDENT TRUST COMPANY (BVI) LIMITED
		STREET 2:		TRIDENT CHMBRS WATERFRONT DR WICKHAM CAY
		CITY:			ROAD TOWN, TORTOLA
		STATE:			D8
		ZIP:			00000
		BUSINESS PHONE:		(612) 253-6001

	MAIL ADDRESS:	
		STREET 1:		TRIDENT TRUST COMPANY (BVI) LIMITED
		STREET 2:		TRIDENT CHMBRS WATERFRONT DR WICKHAM CAY
		CITY:			ROAD TOWN, TORTOLA
		STATE:			D8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001306166</cik>
        <entityName>Whitebox Intermarket Fund, Ltd.</entityName>
        <issuerAddress>
            <street1>Trident Trust Company (BVI) Limited</street1>
            <street2>Trident Chambers Wickhams Cay PO Box 146</street2>
            <city>Road Town, Tortola</city>
            <stateOrCountry>D8</stateOrCountry>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(612) 253-6001</issuerPhoneNumber>
        <jurisdictionOfInc>VIRGIN ISLANDS, BRITISH</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>British Virgin Islands International Business Company</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Whitebox Intermarket Advisors, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3033 Excelsior Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>D.</middleName>
                <lastName>Wood</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3033 Excelsior Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Operating Officer of the Issuer's Investment Manager and Director of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>J.</middleName>
                <lastName>Redleaf</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3033 Excelsior Blvd.</street1>
                <street2>Suite 300</street2>
                <city>Minneapolis</city>
                <stateOrCountry>MN</stateOrCountry>
                <zipCode>55416</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Chief Executive Officer of the Issuer's Investment Manager and Director of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Calum</firstName>
                <lastName>McKenzie</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Folio Chambers</street1>
                <street2>PO Box 800</street2>
                <city>Road Town</city>
                <stateOrCountry>D8</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <lastName>Harris</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Folio Chambers</street1>
                <street2>PO Box 800</street2>
                <city>Road Town</city>
                <stateOrCountry>D8</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001306166-09-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2004-06-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>66748294</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>33</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Whitebox Intermarket Fund, Ltd.</issuerName>
                <signatureName>/s/ Jonathan D. Wood</signatureName>
                <nameOfSigner>Jonathan D. Wood</nameOfSigner>
                <signatureTitle>Chief Operating Officer of the Issuer's Investment Manager</signatureTitle>
                <signatureDate>2010-03-12</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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