OKX to Enable Coin-Margined Perpetual Futures for OP Crypto

OKX Lists Coin-Margined Perpetual Futures for OP Crypto

Leading cryptocurrency exchange platform OKX is set to enhance its trading offerings by enabling Coin-margined perpetual futures for OP crypto. The new feature will be activated at 8:30 am UTC on May 13, 2024, and will be available on both web and app interfaces, as well as the API.

Details of the Perpetual Futures Trading

The newly introduced OPUSD perpetual futures trading will incorporate the following features and details:

• Underlying: OP/USD index
• Settlement crypto: OP
• Face value: 10 USD
• Price quotation: 1 OP value calculated in USD equivalent
• Tick size: 0.0001
• Leverage: 0.01-20x
• Funding fee: Clamp(MA([(Best bid + Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), Interest = 0
• Trading hours: 24/7

Note: As a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding fee before 4:00 pm UTC on May 13, 2024, is 0.03%. After 4:00 pm UTC, the upper limit of the predicted funding fee will be adjusted back to the normal 1.50%.

The price limit rules for OP Coin-margined perpetual futures trading are similar to those of other currencies. For more details, users can refer to the OKX Perpetual Futures Trading User Agreement.

Boosting Trading Options

The addition of coin-margined perpetual futures for OP crypto to OKX's platform is a significant step in expanding its trading offerings and providing users with more diverse and flexible trading options. This move is anticipated to attract more traders and enhance liquidity on the platform.