OKX to implement limit price rules for spot and margin trading

Publicado a 11/12/2023Atualizado a 10/01/2024Leitura de 2 minutos

To protect you against market manipulation, OKX will implement limit price rules for spot and margin trading in phases on January 3, 2024.

1. Limit price rules
These rules will apply to all spot and margin trades with spot indexes.

Time Highest price limit Lowest price limit
Within 10 minutes of spot/margin listing No limit No limit
10 minutes after spot/margin listing Highest price limit = Min [Max (Index, Index × (1 + y%) + Average premium in last 2 minutes), Index × (1 + z%)]
Lowest price limit = Max [Min (Index, Index × (1 – y%) + Average premium in last 2 minutes), Index × (1 – z%)]
For details on the y and z parameters, refer to the following link: https://www.okx.com/trade-market/info/spot
The average premium in the last 2 minutes is calculated as follows:

Spot trading data per second is obtained for the last 2 minutes, along with the spot index, and the mid-price per second is calculated.
Mid-price = (Best ask price + Best bid price) / 2

The mid-price minus the spot index is used as the premium basis per second, and the average value of 120 premiums over the last 2 minutes is calculated.

The preceding parameters and indicators may be adjusted according to market conditions, without separately issued announcements.

API users can refer to the following links: https://www.okx.com/docs-v5/log_en/#upcoming-changes-price-limit-rules-for-spot-and-margin-trading

Spot trading
Buy orders: Orders placed above the highest price limit will trigger the limit price rules.
Sell orders: Orders placed below the lowest price limit will trigger the limit price rules.

Margin trading
Opening positions: Long positions opened above the highest price limit and short positions opened below the lowest price limit will trigger the limit price rules.
Closing positions: Long positions closed below the lowest price limit and short positions closed above the highest price limit will trigger the limit price rules.

If limit price rules are triggered, the corresponding manually-placed orders will be adjusted to the price limit.

2. Implementation dates and scope

Demo trading:
December 20, 2023

Live trading:
January 3, 2024 - January 19, 2024

Implementation scope and sequence:

  • Limit price rules will be implemented in phases for all cryptocurrencies with spot indexes.
  • Sequence:

Date: January 3, 2024
Trading pair: LUNC-USDC

Date: January 4, 2024 to January 5, 2024
Trading pairs: ELF-USDT, GRT-BTC, and XMR-USDC

Date: January 8, 2024 to January 19, 2024
Other trading pairs: The implementation date for other trading pairs will be adjusted according to market conditions.

OKX team
December 11, 2023