OKX Launches Perpetual Futures for NOT Crypto
OKX enables perpetual futures for NOT cryptos
In a significant development, major cryptocurrency exchange OKX has announced that it will enable USDT margined perpetual futures for NOT cryptocurrencies. The new offer will become active on May 16, 2024 at 12:30 PM (UTC).
Along with this, NOT Margin Trading and Simple Earn will also be activated from 4:00 AM UTC on May 17, 2024. Updates apply across APIs as well as web and app interfaces.
Margin transaction and simple accumulation details
As part of the announcement, OKX activated spot margin trading for the NOT/USDT pair. For more information about the margin levels and limits of each tier of simple accumulation, you can refer to ‘Margin Borrowing Position Grades’ and ‘Introduction to OKX Simple Accumulation and Rules’ after the official listing.
NOTUSDT aspects of perpetual futures
NOTUSDT perpetual futures have several features. The underlying is the NOT/USDT index and the payment cryptocurrency is USDT. The face value is 100 and the price quote is 1, not the value calculated in USDT. Tick size is 0.000001 and leverage is 0.01-50x. Trading hours are available 24 hours a day, 365 days a year.
It is worth noting that premiums are unstable when new contracts are launched. To prevent unfair charges, we have set a cap on funding fees of 0.03% before 4:00 PM on May 16, 2024 (UTC). Afterwards, the expected funding fee cap will be adjusted back to the normal 1.50%.
The price limit rules for USDT non-margin perpetual futures trading are the same as those for other currencies. For more information, please refer to the OKX Perpetual Futures Trading User Agreement.
The new service is considered a significant expansion of OKX services, providing users with more opportunities in the thriving cryptocurrency market.
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