OKX to list perpetual for MOVR and GAL crypto, along with their margin trading and Simple Earn
We are pleased to announce that USDT-margined perpetual swaps for MOVR will be enabled at 8:00 am UTC on January 9. MOVR margin trading and Simple Earn will be enabled at 7:30 am UTC on January 9. Besides, USDT-margined perpetual swaps for GAL will be enabled at 10:00 am UTC on January 9. GAL margin trading and Simple Earn will be enabled at 9:30 am UTC on January 9.
The updates will cover both the web and app interfaces as well as the API. The details are as follows:
I. Margin trading and Simple Earn
- Spot margin trading will be activated for the following pair: MOVR/USDT and GAL/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 Introduction to OKX Simple Earn and Its Rules after the official listing.
II. Perpetual swap trading
MOVRUSDT perpetual swap:
| Features | Details |
|---|---|
| Underlying | MOVR/USDT index |
| Settlement asset | USDT |
| Face value | 0.1 |
| Price quotation | 1 MOVR value calculated in USDT equivalent |
| Tick size | 0.001 |
| 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 |
GALUSDT perpetual swap:
| Feature | Details |
|---|---|
| Underlying | GAL/USDT index |
| Settlement asset | USDT |
| Face value | 1 |
| Price quotation | 1 GAL value calculated in USDT equivalent |
| Tick size | 0.001 |
| Leverage | 0.01-20x |
| 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 a 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 January 9 is 0.03%. After 4:00 pm UTC on January 9, the upper limit of the predicted funding rate will be adjusted back to normal 1.50% (the funding fee for this period will be charged at 8:00 am UTC on January 10).
The price limit rules of MOVR and GAL 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 Team
January 9, 2023