Dear valued customers,
We are pleased to announce that DOTUSDT & FILUSDT Perpetual Swap trading is officially live on the OKX website and API from 07:00 July 22, 2020 (UTC). Details as follows:
I. Specifications
DOTUSDT Perpetual Swap:
|
Feature |
Details |
|
Underlying |
DOT/USDT Index |
|
Settlement Coin |
USDT |
|
Face Value |
0.1 DOT |
|
Price Quotation |
1 DOT value calculated in USDT equivalent |
|
Tick Size |
0.01 |
|
Leverage |
0.01-10x |
|
Funding Rate |
Clamp(MA(((best bid + best offer) / 2 - spot index price)／spot index price - interest), -0.1%, 0.1%), interest = 0 |
|
Limit Price |
1. Within 10 minutes after the contract is launched: Max. bid price = Spot index (1 + 0.5%); Min. ask price = Spot index (1 – 0.5%) 2. After 10 minutes: Max. bid price = Min [Max (Index, Index*1.02 + price movement average within the last 10 mins), Index*1.15]; Min. ask price = Max [Min (Index, Index*0.98 + price movement average within the last 10 mins), Index*0.85] |
|
Trading Hours |
7*24 |
|
Settlement Time |
08:00 every day (UTC) |
FILUSDT Perpetual Swap:
|
Feature |
Details |
|
Underlying |
FIL/USDT Index |
|
Settlement Coin |
USDT |
|
Face Value |
0.1 FIL |
|
Price Quotation |
1 FIL value calculated in USDT equivalent |
|
Tick Size |
0.01 |
|
Leverage |
0.01-10x |
|
Funding Rate |
Clamp(MA(((best bid + best offer)／2 - spot index price) / spot index price - interest), -0.1%, 0.1%), interest = 0 |
|
Limit Price |
1. Within 10 minutes after the contract is launched: Max. bid price = Spot index (1 + 0.5%); Min. ask price = Spot index (1 – 0.5%) 2. After 10 minutes: Max. bid price = Min [Max (Index, Index*1.02 + price movement average within the last 10 mins), Index*1.2]; Min. ask price = Max [Min (Index, Index*0.98 + price movement average within the last 10 mins), Index*0.8] |
|
Trading Hours |
7*24 |
|
Settlement Time |
08:00 every day (UTC) |
In particular, the following design will be adopted for the FIL/USDT index to reduce the risk of potential market price fluctuations before the FIL mainnet is launched:
|
Exchange |
Trading Pairs |
Weigh |
|
Gate |
FIL/USDT (IOU) |
33.3% |
|
Poloniex |
XFIL/USDT (IOU) |
33.3% |
|
OKX |
FILUSDT (Swap) |
33.3% |
After the FIL mainnet is launched, the FIL/USDT index composition will be gradually replaced by exchanges with FIL spot trading and better liquidity. An announcement will be made at that time. Please be aware of this.
In addition, pleas control risk by reducing the actual leverage multiples and reducing positions during the trading of DOTUSDT and FILUSDT perpetual swaps due to the current high liquidity risk of DOT and FIL.
Please refer to our USDT-margined perpetual swap trading guides for further details:
OKX USDT 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, we will offer higher maker rebates for all cryptocurrencies other than 9 major assets (BTC, ETH, EOS, LTC, BCH, XRP, ETC, BSV, TRX) by lowering the maker fee rates of all tiers by 0.020% based on the current fee schedules. We will also increase the taker fee rates of all tiers by 0.030% based on the current fee 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 |
0.000% |
0.080% |
|
Lv2 |
≥ 500 |
< 5,000 |
-0.002% |
0.075% |
|
Lv3 |
≥ 1,000 |
< 5,000 |
-0.003% |
0.070% |
|
Lv4 |
≥ 1,500 |
< 5,000 |
-0.004% |
0.065% |
|
Lv5 |
≥ 2,000 |
< 5,000 |
-0.005% |
0.060% |
|
VIP User |
|||
|
Tier |
30-day Trading Volume (BTC) |
Maker Fee |
Taker Fee |
|
VIP1 |
≥ 5,000 |
-0.010% |
0.060% |
|
VIP2 |
≥ 10,000 |
-0.015% |
0.060% |
|
VIP3 |
≥ 20,000 |
-0.020% |
0.060% |
|
VIP4 |
≥ 60,000 |
-0.025% |
0.060% |
|
VIP5 |
≥ 100,000 |
-0.028% |
0.060% |
|
VIP6 |
≥ 150,000 |
-0.030% |
0.060% |
|
VIP7 |
≥ 200,000 |
-0.035% |
0.060% |
(Note: The maker and taker fee rates for 9 major assets remain unchanged.)
Thank you for your continued support and we assure you our best services at all times.
Regards,
OKX
July 21, 2020 (UTC)
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