OKX to list perpetual for PYTH and enable margin trading and Simple Earn

Published on Nov 20, 2023Updated on Apr 4, 20242 min read

We are pleased to announce that USDT-margined perpetual swaps for PYTH will be enabled at 3:00 pm UTC on November 20 . PYTH margin trading and savings will be enabled at 4:00 am UTC on November 21.
The updates will cover both the web and app interfaces as well as API. The details are as follows:

I. Margin trading and Simple Earn

  1. Spot margin trading will be activated for the following pair: PYTH/USDT
  2. For the details of the tiered margin level, please refer to Margin Borrowing Position Tiers after the official listing.
  3. For the limits of Simple Earn, please refer to the Introduction to OKX Simple Earn and Its Rules after the official listing.

II. Perpetual swap trading
PYTHUSDT Perpetual Swap:

Feature Details
Underlying PYTH/USDT Index
Settlement asset USDT
Face value 10
Price quotation 1 PYTH value calculated in USDT equivalent
Tick size 0.0001
Leverage 0.01-50x
Funding rate Clamp(MA([(Best bid + Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), Interest = 0
Trading hours 24/7

Note: When a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 4:00 pm UTC on November 20 is 0.03%. After 4:00 pm UTC on November 20, the upper limit of the predicted funding rate will be adjusted back to normal 1.50% (the funding fee for this period will be charged at 8:00 am UTC on November 21).

The price limit rules of PYTH USDT-margined perpetual swap trading are the same as those of other currencies. Please refer to our perpetual swap trading guides for further details.
USDT-margined perpetual swap trading: OKX Perpetual Swap Trading User Agreement

November 20, 2023