Adjustment of Price Limit Rules for Futures & Perpetual Swap and Funding Rate Rules for Perpetual Swap
Dear valued customers,
In order to improve the liquidity of our markets and to keep perpetual swap market price in line with the spot index price, OKX will adjust the price bands and funding rate limit of perpetual markets on 8:00 (UTC) on October 16, 2020 (The earliest settlement time for the adjusted funding rate is 0:00 on October 17, 2020 (UTC)), and we will adjust the price bands of futures markets on 9:00 (UTC) on October 22, 2020.
I. Price Limit Rules
1. Formula of price limit:
|
Period |
Max Buy Price |
Min Sell Price |
|
Within 10 minutes after the contracts launched |
Index *(1+X) |
Index *(1-X) |
|
Contracts launched 10 minutes later |
Min[Max(Index, Index *(1+Y)+ price movement average within the last 10 mins), Index *(1+Z)] |
Max[Min(Index, Index *(1-Y)+ price movement average within the last 10 mins), Index *(1-Z)] |
2. Parameters:
Futures：
|
Contract type |
Coins |
X |
Y |
Z |
|
USDT & Coins Margined Futures (Weekly/Bi-weekly) |
All |
5% |
4% |
15% |
|
USDT & Coins Margined Futures (Quarterly/Bi-quarterly) |
All |
5% |
6% |
25% |
Z of the Weekly contract within 30 minutes before delivery is 1%
Perpetual：
|
Tiers |
Coins |
X |
Y |
Z |
|
Tier1 |
BTC、ETH、LTC、ETC、XRP、EOS、BCH、TRX、BSV、LINK、DOT |
2% |
2% |
5% |
|
Tier2 |
DOGE、BTM、ADA、ATOM、AVAX、FLM、OMG、KSM、MKR、ALGO、 ONT、BTT、XMR、REN、QTUM、STORJ、XLM、KNC、ZEC、XTZ、LRC、 YFII、WAVES、IOTA、IOST、BAND、NEO、ZIL、BAT、TRB、ANT、SNX、 UMA、BAL、WNXM、SRM、JST、RSR、COMP、ZRX、THETA、DASH、 YFI、LEND、YFV、UNI |
4% |
4% |
8% |
|
Tier3 |
CRV、SWRV、SUN、FIL、SUSHI |
6% |
6% |
15% |
II. Funding Rate Rules
1. Formula of Funding Rate：
Funding Rate=Clamp[MA(((Best Bid + Best Ask)／2- Spot Index Price)／Spot Index Price - Interest), a, b]，Interest is currently zero
2. Details after adjustment:
|
Coins |
a |
b |
|
BTC |
-0.375% |
0.375% |
|
Other Coins |
-0.75% |
0.75% |
Thank you for your continued support and we assure you our best services at all times.
Regards,
OKX
Oct 14, 2020 (UTC)
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