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OKX Introduces Perpetual Futures for NON Crypto
OKX enables perpetual futures NOT for cryptocurrencies
In a significant development, leading cryptocurrency exchange OKX has announced that it will allow USDT margined perpetual futures for NON-cryptocurrency. The new offer will go live at 12:30 UTC on May 16, 2024.
Apart from this, NON margin trading and simple profit will also be enabled at 4:00 UTC on May 17, 2024. The updates will be applicable to the web and app interfaces, as well as the API.
Details on margin trading and easy profit
As part of the announcement, OKX has activated spot margin trading for the NOT/USDT pair. For detailed information on the tiered margin level and limits of Simple Earn, users can refer to “Margin Lending Position Levels” and “Introduction to OKX Simple Earn and Its Rules” after the official listing.
Aspects of NOTUSDT perpetual futures
NOTUSDT perpetual futures have several characteristics. The underlying is the NOT/USDT index and the settlement cryptocurrency is USDT. The face value is 100 and the price quote is 1 NOT value calculated in USDT equivalent. The tick size is 0.000001 and the leverage is between 0.01 and 50x. Trading hours are available 24/7.
It is worth noting that when a new contract is launched, the premium is unstable. To avoid unreasonable charges, the maximum funding fee limit before 16:00 UTC on May 16, 2024 is set at 0.03%. Thereafter, the upper limit of the expected financing fee will be reset to the normal 1.50%.
The price limit rules for trading NON-margined perpetual futures in USDT are the same as those for other currencies. For further details, users can refer to the OKX Perpetual Futures Trading User Agreement.
The new offerings are seen as a significant expansion of OKX’s services, offering users more opportunities in the burgeoning cryptocurrency market.
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