OKX to Enable Margin Trading & Savings and List Perpetual for SOL/LON
Dear users,
We are pleased to announce that SOL and LON margin trading and savings will be enabled at 7:00 am UTC on Jan. 22. USDT-margined perpetual swaps for SOL and LON 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: SOL/USDT,SOL/BTC,LON/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
1. Perpetual Swap Introduction
SOLUSDT Perpetual Swap:
|
Feature |
Details |
|
Underlying |
SOL/USDT Index |
|
Settlement asset |
USDT |
|
Face value |
1 SOL |
|
Price quotation |
1 SOL value calculated in USDT equivalent |
|
Tick size |
0.001 |
|
Leverage |
0.01-75 x |
|
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 |
LONUSDT Perpetual Swap:
|
Feature |
Details |
|
Underlying |
LON/USDT Index |
|
Settlement asset |
USDT |
|
Face value |
1 LON |
|
Price quotation |
1 LON value calculated in USDT equivalent |
|
Tick size |
0.001 |
|
Leverage |
0.01-75 x |
|
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 Jan. 22 is 0.03%. After 4:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 0.75% (the funding fee of this period will be charged at 8:00 am UTC on Jan. 23).
The price limit rules of SOL and LON 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
2. Fee tier requirements:
OKX will offer zero maker and taker transaction fees for SOL and LON USDT-margined perpetual swap trading from 7:00 am UTC on Jan. 22 to 7:00 am UTC on Feb. 21. The trading volume generated from the zero-fee pairs will not be included in the calculation of users' trading volume level.
Regards,
OKX
Jan. 22, 2021 (UTC)
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