We are excited to announce that OKX will enable margin trading and savings for SOL and LON, alongside listing their USDT-margined perpetual swaps. These updates are scheduled to go live at 7:00 am UTC on January 22, and will be accessible across web, mobile app, and API interfaces.
This expansion provides traders with more flexibility and opportunities within the dynamic cryptocurrency market. Whether you are looking to leverage your positions or earn through savings, these new offerings are designed to cater to a variety of trading strategies.
Margin Trading and Savings Activation
Spot margin trading will be available for the following pairs: SOL/USDT, SOL/BTC, and LON/USDT. This allows users to borrow funds and increase their trading potential.
For detailed information on tiered margin ratios, please refer to the official margin borrowing position tiers documentation after the listing goes live. Similarly, specifics regarding savings limits can be found in the business rules for savings.
Margin trading can amplify gains, but it is crucial to understand the associated risks and requirements. Always ensure you are familiar with the terms before engaging.
Introduction to Perpetual Swap Trading
Perpetual swaps are a popular derivative product that allows traders to speculate on asset prices without an expiration date. OKX is introducing two new perpetual swap contracts.
SOLUSDT Perpetual Swap Details
| Feature | Details |
|---|---|
| Underlying | SOL/USDT Index |
| Settlement asset | USDT |
| Face value | 1 SOL |
| Price quotation | USDT equivalent for 1 SOL |
| Tick size | 0.001 |
| Leverage | 0.01-75x |
| Funding rate | Calculated based on index price and interest |
| Trading hours | 24/7 |
LONUSDT Perpetual Swap Details
| Feature | Details |
|---|---|
| Underlying | LON/USDT Index |
| Settlement asset | USDT |
| Face value | 1 LON |
| Price quotation | USDT equivalent for 1 LON |
| Tick size | 0.001 |
| Leverage | 0.01-75x |
| Funding rate | Calculated based on index price and interest |
| Trading hours | 24/7 |
It is important to note that immediately after launch, the funding rate upper limit is temporarily set to 0.03% until 4:00 pm UTC on January 22 to prevent unreasonable charges. After this time, it will revert to the standard 0.75%.
The price limit rules for these new perpetual swaps align with those for other currencies on the platform. For a comprehensive understanding, please review the perpetual swap trading guides.
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Transaction Fee Promotion
From January 22 at 7:00 am UTC to February 21 at 7:00 am UTC, OKX is offering zero maker and taker fees for SOL and LON USDT-margined perpetual swap trading. Please note that trading volume from these pairs will not contribute to users' trading volume level calculations during this period.
This fee promotion presents an excellent opportunity for traders to engage with these new instruments without incurring additional costs.
Frequently Asked Questions
What is margin trading?
Margin trading allows you to borrow funds to trade larger positions than your account balance would normally allow. It can amplify profits but also increases potential losses, so risk management is essential.
How does a perpetual swap work?
A perpetual swap is a derivative contract with no expiration date, allowing continuous trading. Its price is pegged to an underlying asset index, and it uses a funding rate mechanism to maintain alignment with the spot market.
What are the risks of using high leverage?
High leverage can significantly magnify both gains and losses. Even a small adverse price movement can lead to substantial losses, including the possibility of losing your entire initial margin. It is crucial to use leverage cautiously.
How is the funding rate calculated?
The funding rate is typically calculated based on the difference between the perpetual swap price and the spot index price. It is periodically exchanged between long and short traders to keep the contract price aligned with the spot price.
Can I use savings products to earn interest?
Yes, savings products allow you to earn interest on your idle assets. The specific terms, rates, and limits can vary, so always check the latest rules before depositing funds.
Where can I learn more about trading on OKX?
For detailed guides, user agreements, and the latest information, visiting the official help center is recommended. You can access comprehensive educational resources to enhance your trading knowledge.