OKX to Enable Margin Trading & Savings and List Perpetual for USTC
Published on 2 Nov 20222 min read
We are pleased to announce that USTC margin trading and savings will be enabled at 7:00 am UTC on November. 3. USDT-margined perpetual swaps for USTC will be listed at the same time.
The updates will cover both the web and app interfaces as well as API. The details are as follows:
I. Margin Trading and Savings
1. Spot margin trading will be activated for following pairs: USTC/USDT
2. For the details of the tiered margin ratio, please refer to Margin Borrowing Position Tiers after the official listing.
3. For the limits of savings, please refer to the Business Rules for Savings after the official listing.
II. Perpetual Swap Trading
USTCUSDT Perpetual Swap:
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Feature
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Details
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Underlying
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USTC/USDT Index
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Settlement asset
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USDT
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Face value
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100 USTC
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Price quotation
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1 USTC value calculated in USDT equivalent
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Tick size
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0.00001
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Leverage
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0.01-75 x
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Funding rate
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Clamp(MA(((best bid + best offer) / 2 - spot index price)／spot index price - interest), -0.75%, 0.75%), interest = 0
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Trading hours
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24/7
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Note: When the new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 16:00 pm UTC on November. 3 is 0.03%. After 16:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 1.50% (the funding fee of this period will be charged at 8:00 am UTC on November. 4).
The price limit rules of USTC USDT-margined perpetual swap trading are the same as those of other currencies. Please refer to our perpetual swap trading guides for further details.
USDT-margined perpetual swap trading: OKX USDT Margined Perpetual Swap Trading User Agreement & Guide
OKX
November. 2, 2022 (UTC)