Friday, July 12, 2024

OKX Introduces USDT-Margined Perpetual Futures for ATH Crypto

OKX has announced the listing of USDT-margined perpetual futures for ATH, set to go live at 4:00 am UTC on June 13, 2024. This new listing will be accompanied by the introduction of ATH margin trading and Simple Earn options, which will be enabled at 3:30 am UTC on the same day, according to OKX.

Margin Trading and Simple Earn

Spot margin trading will be activated for the ATH/USDT pair. Users can refer to the Margin Borrowing Position Tiers on the OKX platform for detailed information on tiered margin levels. Additionally, Simple Earn limits and rules will be available for review in the Introduction to OKX Simple Earn and Its Rules section post-listing.

Perpetual Futures Trading

The ATHUSDT perpetual futures will feature the ATH/USDT index as the underlying asset, with USDT serving as the settlement cryptocurrency. The face value for these contracts is set at 100, with price quotations calculated in USDT equivalents. Key details include a tick size of 0.00001 and leverage options ranging from 0.01x to 20x.

The funding fee for these futures is defined by the formula: Clamp(MA([(Best bid + Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), with interest set at 0. The trading hours for ATHUSDT perpetual futures will be 24/7, ensuring continuous market participation.

It is important to note that during the initial launch phase, the premium may be unstable. To mitigate unreasonable charges, the upper limit of the funding fee will be capped at 0.03% until 4:00 pm UTC on June 13, 2024. After this period, the upper limit will revert to the standard 1.50%, with the first funding fee for this period charged at 12:00 am UTC on June 14, 2024.

The price limit rules for ATH USDT-margined perpetual futures will align with those of other currencies. Users are encouraged to review the perpetual futures trading guides available on the OKX platform for comprehensive details.

For further information on USDT-margined perpetual futures trading, users can refer to the OKX Perpetual Futures Trading User Agreement.

OKX continues to expand its offerings, providing traders with diverse options to engage with the cryptocurrency market. The introduction of these new trading instruments underscores OKX’s commitment to enhancing its platform and catering to the evolving needs of its user base.

Image source: Shutterstock

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