OKX to list perpetual for WSM and to enable margin trading and Simple Earn
We are pleased to announce that WSM margin trading and Simple Earn will be enabled at 4:00 am UTC on October 6. USDT-margined perpetual swaps for WSM 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 Simple Earn
- Spot margin trading will be activated for the following pair: WSM/USDT
- For the details of the tiered margin level, please refer to Margin Borrowing Position Tiers after the official listing.
- For the limits of Simple Earn, please refer to the Business Rules for Simple Earn after the official listing.
II. Perpetual Swap Trading
WSMUSDT Perpetual Swap:
| Feature | Details |
|---|---|
| Underlying | WSM/USDT Index |
| Settlement asset | USDT |
| Face value | 100 |
| Price quotation | 1 WSM value calculated in USDT equivalent |
| Tick size | 0.00001 |
| Leverage | 0.01~50x |
| Funding rate | 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: When the new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 4:00 pm UTC on October 6 is 0.03%. After 4:00 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 October 7).
The price limit rules of WSM 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 Perpetual Swap Trading User Agreement
OKX
October 5, 2023 (UTC)