Dear OKX Users,
OKX will officially launch the OLUSDT perpetual contract on November 22, 2024, at 5:00 PM (UTC+8) across web, mobile app, and API platforms. Additionally, OL leverage trading and Simple Earn features will go live on November 22, 2024, at 7:00 PM (UTC+8). Below are the detailed rules:
I. Leverage Trading and Simple Earn
- OL will simultaneously enable USDT-paired leverage trading.
- Leverage tier specifications will be available post-launch.
- Simple Earn quota details will be published upon release.
👉 Learn more about margin trading tiers
II. Perpetual Contracts
OLUSDT Perpetual Contract Specifications
| Contract Feature | Details |
|---|---|
| Underlying Asset | OL/USDT Index |
| Settlement Currency | USDT |
| Face Value | 10 |
| Price Quotation | USDT price per 1 OL |
| Minimum Price Movement | 0.000001 |
| Leverage Range | 0.01–50x |
| Funding Fee Mechanism | Clamped rate based on premium index (max 1.5%) |
| Trading Hours | 24/7 |
Special Note:
To ensure fair funding rate calculations during initial volatility, the maximum funding rate will be temporarily capped at 0.03% until 00:00 (UTC+8) on November 23, 2024, after which it reverts to the standard 1.5% limit. The first adjusted funding payment will occur at 8:00 AM (UTC+8) on November 23, 2024.
👉 Review perpetual contract user agreement
FAQ Section
Q1: What time do OLUSDT perpetual contracts start trading?
A1: Trading begins at 5:00 PM (UTC+8) on November 22, 2024.
Q2: Can I use leverage for OL trading immediately after launch?
A2: Leverage trading activates at 7:00 PM (UTC+8) on the same day.
Q3: How is the funding rate calculated for new contracts?
A3: An initial 0.03% cap prevents excessive fees during price instability, normalizing to 1.5% after 24 hours.
OKX remains committed to delivering exceptional products and services.
OKX Team
November 22, 2024