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OKX to Enable Coin-margined Perpetual Swap for YFII/SUN

Published on Sep 17, 20203 min read

Dear valued customers,

We are pleased to announce that Coin-margined Perpetual Swap for YFII and SUN will be enabled at 11:00 September 17, 2020 (UTC). The updates will cover the Web, APP and API. Details as follows:

I. Perpetual Swap trading

YFIIUSD Perpetual Swap:

Feature

Details

Underlying

YFII/USD Index

Settlement Coin

YFII

Face Value

USD10

Price Quotation

1 YFII value calculated in USD equivalent

Tick Size

0.1

Leverage

0.01-75x

Funding Rate

Clamp(MA(((best bid + best offer) / 2 - spot index price)/spot index price - interest), -0.3%, 0.3%), interest = 0

Trading Hours

7*24

Settlement Time

08:00 every day (UTC)

SUNUSD Perpetual Swap:

Feature

Details

Underlying

SUN/USD Index

Settlement Coin

SUN

Face Value

USD10

Price Quotation

1 SUN value calculated in USD equivalent

Tick Size

0.01

Leverage

0.01-75x

Funding Rate

Clamp(MA(((best bid + best offer) / 2 - spot index price)/spot index price - interest), -0.3%, 0.3%), interest = 0

Trading Hours

7*24

Settlement Time

08:00 every day (UTC)


(Note: When the new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 08:00 (UTC) on September 18 is 0.03%. After 08:00, the upper limit of the predicted funding rate will be adjusted back to the normal 0.30% (the funding fee of this period will be charged at 00:00 (UTC) on September 19)

The price limit rules for YFII/ SUN Coin-margined Perpetual Swap trading are the same as perpetual swap trading of other cryptocurrencies. Please refer to our perpetual swap trading guides for further details.

Coin-margined perpetual swap trading: OKX-Coin-Margined-Perpetual-Swap-Trading-User-Agreement-Guide

II. Fee tier requirements:

In order to offer a better trading experience and enhance the liquidity in the perpetual swap market, Transaction fee will now be different depending on instrument or underlying,YFII and SUN Coin-margined Perpetual Swap will follow the Type II perpetual swap rate schedules.

Details as follows (30-day trading volume = total trading volume of all cryptocurrencies):

Normal User

Tier

Total OKB Holding

30-day Trading Volume (BTC)

Maker Fee

Taker Fee

Lv1

< 500

< 5,000

0.015%

0.030%

Lv2

≥ 500

< 5,000

0.013%

0.030%

Lv3

≥ 1,000

< 5,000

0.012%

0.030%

Lv4

≥ 1,500

< 5,000

0.011%

0.030%

Lv5

≥ 2,000

< 5,000

0.010%

0.030%

VIP User

Tier

30-day Trading Volume (BTC)

Maker Fee

Taker Fee

VIP1

≥ 5,000

0.010%

0.030%

VIP2

≥ 10,000

0.005%

0.028%

VIP3

≥ 20,000

0.000%

0.026%

VIP4

≥ 60,000

-0.005%

0.024%

VIP5

≥ 100,000

-0.008%

0.022%

VIP6

≥ 150,000

-0.010%

0.022%

VIP7

≥ 200,000

-0.015%

0.022%

Thank you for your continued support and we assure you our best services at all times.

Regards,
OKX
Sep 17, 2020 (UTC)

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