We are excited to announce that OKX will introduce margin trading, savings products, and perpetual swap trading for RSS3 and UMEE. These new features are scheduled to go live at 7:00 am UTC on February 24.
This update enhances the platform’s offerings for both beginner and advanced traders, providing more ways to engage with these popular digital assets. The new services will be accessible via the OKX web platform, mobile app, and API.
Margin Trading and Savings Features
Spot margin trading will be available for the following trading pairs:
- RSS3/USDT
- UMEE/USDT
Margin trading allows users to borrow funds to increase their trading position, potentially amplifying both gains and losses. It is important to understand the associated risks and mechanics before participating.
The tiered margin ratio, which determines the borrowing limits and maintenance requirements, will be available for review on the OKX platform once the services are officially launched.
Additionally, RSS3 and UMEE will be supported in the OKX Savings product. Savings allow users to earn interest on their idle crypto assets. Specific limits, interest rates, and rules for these assets can be found in the official Business Rules for Savings on the OKX website after the launch.
👉 Explore margin trading strategies
Perpetual Swap Trading Details
Perpetual swaps are a type of derivative contract that allows traders to speculate on the future price of an asset without an expiration date. OKX is listing USDT-margined perpetual swaps for both RSS3 and UMEE.
RSS3USDT Perpetual Swap
| Feature | Details |
|---|---|
| Underlying | RSS3/USDT Index |
| Settlement Asset | USDT |
| Face Value | 10 RSS3 |
| Price Quotation | USDT value of 1 RSS3 |
| Tick Size | 0.00001 |
| Leverage | 0.01x to 75x |
| Funding Rate | Calculated based on the index price and interest |
| Trading Hours | 24/7 |
UMEEUSDT Perpetual Swap
| Feature | Details |
|---|---|
| Underlying | UMEE/USDT Index |
| Settlement Asset | USDT |
| Face Value | 10 UMEE |
| Price Quotation | USDT value of 1 UMEE |
| Tick Size | 0.00001 |
| Leverage | 0.01x to 75x |
| Funding Rate | Calculated based on the index price and interest |
| Trading Hours | 24/7 |
The funding rate mechanism is designed to keep the perpetual swap price aligned with the underlying spot index price. For a detailed explanation of how funding rates are calculated, please refer to the official OKX documentation.
Important Note for New Listings: Due to potential price volatility when a new contract is launched, the upper limit for the funding rate will be temporarily capped at 0.03% until 16:00 UTC on February 24. This is to prevent unreasonable charges for traders during the initial period of price discovery. After this time, the predicted funding rate上限 will return to the standard 0.75%. The first funding fee under the normal rate will be collected at 08:00 UTC on February 25.
The price limit rules for these new perpetual swaps will be consistent with those for other cryptocurrencies on the OKX platform.
Frequently Asked Questions
What is margin trading?
Margin trading involves borrowing funds to trade larger positions than your account balance would normally allow. This can magnify profits but also significantly increase potential losses, making risk management essential.
How does the Savings product work?
The Savings product allows you to deposit supported cryptocurrencies and earn interest over time. It's a way to generate a yield on assets you are holding for the long term without actively trading them.
What is a perpetual swap?
A perpetual swap is a derivative contract that mimics a traditional futures contract but has no expiry date. Traders can hold positions indefinitely, with a funding fee exchanged periodically between long and short positions to tether the contract's price to the spot market.
What is a funding rate?
A funding rate is a periodic fee paid between traders holding long and short positions in a perpetual swap contract. It helps ensure the contract's trading price stays close to the underlying spot index price.
Is there a risk of liquidation in perpetual swap trading?
Yes, using high leverage significantly increases the risk of liquidation. If the market moves against your position and your margin balance falls below the maintenance requirement, your position will be automatically closed to prevent further losses.
Where can I learn more about trading on OKX?
The platform provides comprehensive guides and a help center that cover everything from basic account setup to advanced trading strategies. 👉 Learn advanced trading techniques
Understanding the mechanics of margin trading, savings, and perpetual swaps is crucial for any trader looking to diversify their strategy. Always ensure you are familiar with the risks involved and manage your positions accordingly.