Dear OKX Users,
We are excited to announce the official launch of OPUSD Perpetual Futures on our platform (web, mobile app, and API) starting May 13, 2024, at 16:30 UTC+8. Below are the key details:
Perpetual Futures Overview
1. Contract Specifications
OPUSD Perpetual Futures:
| Contract Parameter | Details |
|---|---|
| Underlying Asset | OP/USD Index |
| Settlement Currency | OP |
| Contract Face Value | 10 USD |
| Price Quotation | USD price per 1 OP |
| Minimum Price Increment | 0.0001 |
| Leverage | 0.01x–20x |
| Funding Fee | Calculated as Clamp(MA([(Mark Price – Spot Index) / Spot Index – Interest]), -0.75%, 0.75%) with Interest = 0. Note: Fees are collected/repaid hourly. |
| Trading Hours | 24/7 |
Special Adjustment:
To ensure fair funding fee calculations during initial volatility, the fee rate cap will be temporarily set at 0.03% until 00:00 UTC+8 on May 14, 2024, after which it reverts to the standard 1.50%. The first fee collection occurs at 08:00 UTC+8 on May 14.
2. Trading Rules
- Limit Orders and other trading rules align with existing USD-margined perpetual contracts.
👉 Learn more about Perpetual Futures
Why Trade OPUSD Perpetual Futures?
- Flexible Leverage: Scale positions with up to 20x leverage.
- Transparent Pricing: Tied to the OP/USD index for accuracy.
- 24/7 Liquidity: Trade anytime with minimal slippage.
FAQ
Q: What is the settlement currency for OPUSD futures?
A: Contracts are settled in OP.
Q: How often are funding fees paid?
A: Fees are exchanged hourly between long/short positions.
Q: Are there limits on funding rates?
A: Yes, rates are capped at ±0.75% to prevent excessive fees.
Q: Can I trade during high volatility?
A: Yes, but note the adjusted fee cap (0.03%) during the first 7.5 hours post-launch.
OKX remains committed to delivering innovative products and exceptional service.
Happy Trading!
OKX Team
May 13, 2024