OKX to list coin-margined perpetual for OP crypto

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

Read the original article at okex

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