We are excited to announce that OKX will officially launch the S/USDT Perpetual Swap on our web platform, mobile app, and API at 5:00 PM (UTC+8) on January 21, 2025. Subsequently, leveraged trading and Simple Earn products for S will become available at 12:00 PM (UTC+8) on January 22, 2025.
Detailed specifications and rules for these new offerings are outlined below.
Leveraged Trading and Simple Earn
With the introduction of S, users will gain access to new trading and earning opportunities:
- S will be available for leveraged trading in the S/USDT trading pair.
- The tiered margin design and specific levels can be reviewed on the platform after launch.
- The subscription limits for Simple Earn products will also be visible upon release.
For a deeper understanding of how these services work, you can 👉 explore detailed margin trading guides and review the official product rules once they are live.
S/USDT Perpetual Swap Specifications
The new perpetual swap contract is designed to provide a seamless trading experience with the following key features:
| Contract Element | Details |
|---|---|
| Underlying | S/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10 |
| Price Quotation | Quoted in USDT per 1 S |
| Minimum Price Movement | 0.0001 |
| Leverage | 0.01x to 50x |
| Funding Fee | Calculated based on a specific formula with a clamp between -1.5% and +1.5%. Fees are paid and received on a current-period basis. |
| Funding Interval | Every 4 hours |
| Trading Hours | 24/7 |
Important Note on Funding Rates
Due to the potential for increased price volatility and premium instability for a new contract, the funding rate上限 (upper limit) will be temporarily set at 0.03% until 12:00 AM (UTC+8) on January 22, 2025. This measure is implemented to prevent unreasonable funding fee calculations during the initial launch phase.
After this time, the funding rate cap will be adjusted back to the standard 1.5%. The first funding fee collection under the standard cap will occur at 4:00 AM (UTC+8) on January 22, 2025.
Apart from these specified details, all other trading rules for the S/USDT perpetual swap, including limit order parameters, align with our existing USDT-margined perpetual contracts. For comprehensive information on trading mechanics and risk management, we encourage users to 👉 review the perpetual swap agreement.
Frequently Asked Questions
Q: What is the main advantage of trading a perpetual swap?
A: Perpetual swaps allow traders to speculate on the future price of an asset like S without an expiry date, enabling them to hold positions for as long as they wish, provided they can manage the associated funding fees and margin requirements.
Q: How does the funding fee work in perpetual swaps?
A: Funding fees are periodic payments exchanged between traders who are long and those who are short. They are designed to tether the swap's market price to the underlying spot index price. The direction of the payment depends on whether the funding rate is positive or negative.
Q: Can I use both leveraged trading and perpetual swaps?
A: Yes, they are separate products. Leveraged trading involves borrowing funds to amplify your buying or selling power in the spot market. Perpetual swaps are derivative contracts. Your choice depends on your trading strategy, risk appetite, and understanding of each product.
Q: Is there a risk of liquidation in Simple Earn products?
A: No, Simple Earn products focused on savings (like flexible or fixed-term subscriptions) are generally low-risk and do not involve liquidation. Your assets are not used for leveraged trading. However, it's crucial to understand the specific terms of each product before subscribing.
Q: Where can I find more educational content about these new features?
A: OKX provides a rich library of tutorials, articles, and explainer documents within the OKX Learn section of our website and app. We highly recommend educating yourself thoroughly before engaging in leveraged or derivative trading.
Q: What should I do if I encounter issues during trading?
A: Our 24/7 customer support team is always ready to assist you. You can reach out for help directly through the OKX app or website for any technical difficulties or clarification on trading rules.
We are committed to continuously providing you with exceptional products and superior service.
The OKX Team
January 21, 2025