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OKX to list coin-margined perpetual for OP crypto

Published on May 13, 20242 min read

We are pleased to announce that Coin-margined perpetual futures for OP will be enabled at 8:30 am UTC on May 13, 2024.

The updates will cover both the web and app interfaces as well as the API. The details are as follows:

I. Perpetual futures trading

OPUSD perpetual futures:

Features

Details

Underlying

OP/USD index

Settlement crypto

OP

Face value

10 USD

Price quotation

1 OP value calculated in USD equivalent

Tick size

0.0001

Leverage

0.01-20x

Funding fee

Clamp(MA([(Best bid + Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), Interest = 0

Note: Funding fees are received and deducted based on the current period.

Trading hours

24/7

Note: When a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding fee before 4:00 pm UTC on May 13, 2024 is 0.03%. After 4:00 pm UTC on May 13, 2024, the upper limit of the predicted funding fee will be adjusted back to normal 1.50%. (The funding fee for this period will be charged at 12:00 am UTC on May 14, 2024.)

The price limit rules of OP Coin-margined perpetual futures trading are the same as those of other currencies. Please refer to our perpetual futures trading guides for further details.

Coin-margined perpetual futures trading: OKX Perpetual Futures Trading User Agreement

OKX team

May 13, 2024