OKX to enable margin trading , savings and List usdt-margined perpetual swap for ZEN
We are pleased to announce that ZEN margin trading and savings feature will be enabled at 7:00 am UTC on Nov. 27. USDT-margined perpetual swaps for ZEN will be listed at the same time.
The updates will cover the web, app and API versions. Details are as follows:
I. Margin trading and savings
1. Spot margin trading will be activated for the ZEN/USDT pair.
2. For the details of the tiered margin ratio, please refer to Margin Borrowing Position Tiers after the official listing.
3. For the limits of Savings, please refer to the Business Rules for Savings after the official listing.
II. Perpetual swap trading
1. Perpetual swap introduction
ZENUSDT perpetual swap:
|
Feature |
Details |
|
Underlying |
ZEN/USDT index |
|
Settlement coin |
USDT |
|
Face value |
1 ZEN |
|
Price quotation |
1 ZEN value calculated in USDT equivalent |
|
Tick size |
0.001 |
|
Leverage |
0.01–75x |
|
Funding rate |
Clamp(MA(((best bid + best offer) / 2 - spot index price)／spot index price - interest), -0.75%, 0.75%), interest = 0 |
|
Trading hours |
7*24 |
|
Settlement time |
Every day at 8:00 am UTC |
Note:
When new contracts are launched, premiums are unstable. To avoid unreasonable charges, the upper limit of the funding rate before 4:00 pm UTC on Nov. 27 is 0.03%. After 4:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 0.75% (the funding fee of this period will be charged at 8:00 am UTC on Nov. 28).
The price limit rules of ZENUSDT-margined perpetual swap trading are the same as that of other currencies. Please refer to our perpetual swap trading guides for further details.
USDT-margined perpetual swap trading: OKX USDT Margined Perpetual Swap Trading User Agreement & Guide
2. Fee tier requirements:
OKX will offer ZERO transaction fees for ZENUSDT perpetual trading for one month, for both the taker and the maker. The trading volume generated from zero-fee pairs will not be counted for the calculation of users' trading volume level.
Thank you for your continued support.
Nov. 27, 2020
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