OKX to list perpetual for SONIC crypto, along with its margin trading and Simple Earn

We are pleased to announce that USDT-margined perpetual futures for SONIC will be enabled at 2:00 pm UTC on January 7, 2025. SONIC margin trading and Simple Earn will be enabled at 4:00 am UTC on January 8, 2025.

This update covers 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: SONIC/USDT.
For the details of the tiered margin level, please refer to the position tier margin schedule after official listing.
For the limits of Simple Earn, please refer to the Simple Earn guide after official listing.

II. Perpetual futures trading

Features	Details
Underlying	SONIC/USDT index
Settlement crypto	USDT
Face value	1
Price quotation	1 SONIC value calculated in USDT equivalent
Tick size	0.00001
Leverage	0.01-50x
Funding fee	Clamp(MA([(Best bid Best offer) / 2 – Spot index price] / Spot index price – Interest), -1.5%, 1.5%), Interest = 0 Note: Funding fees are received and deducted based on the current period.
Trading hours	24/7

Note: To avoid unreasonable fees arising from significant premium fluctuations of a newly launched contract, the upper limit of the funding fee before 4:00 pm UTC on January 7, 2025 is 0.03%. After 4:00 pm UTC on January 7, 2025, the upper limit of the predicted funding fee will be adjusted back to the regular rate of 1.5%. (The funding fee for this period will be charged at 12:00 am UTC on January 8, 2025.)

The price limit rules of SONIC USDT-margined perpetual futures trading are the same as those of other currencies. Please refer to our perpetual futures trading guides for further details.
USDT-margined perpetual futures trading: OKX Perpetual Futures Trading User Agreement

OKX team
January 7, 2025

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