OKX to list perpetual futures for HYPE and deliver pre-market futures for HYPE crypto

We are pleased to announce that USDT-margined perpetual futures for HYPE will be enabled at 7:00 am UTC on February 21, 2025. The pre-market futures for HYPE will be delivered at 10:00 am UTC on February 21, 2025.

The updates will cover both the web and app interfaces as well as the API. The details are as follows:

I. Listing schedule

• HYPE/USDT perpetual futures trading will open at 7:00 am UTC on February 21, 2025.

II. Perpetual futures trading

HYPE perpetual futures:

Hyperliquid is a performant L1 optimized from the ground up. The vision is a fully onchain open financial system. The flagship native application is a fully on-chain order book perpetuals exchange, the Hyperliquid DEX.

• Asset name: Hyperliquid

• Ticker: HYPE

• Website: https://hyperfoundation.org/

• Twitter: https://x.com/HyperliquidX

Note: To avoid unreasonable fees arising from significant premium fluctuations of a newly launched contract, the upper limit of the funding fee before 4:00 pm UTC on February 21, 2025 is 0.5%. After 4:00 pm UTC on February 21, 2025, the upper limit of the predicted funding fee will be adjusted back to the regular rate of 1.5%. (The funding fee for this period will be charged at 8:00 pm UTC on February 21, 2025.) If there is a deviation from the contract price, the funding fee limit will be adjusted according to market conditions.

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

III. Pre-market futures delivery

We are pleased to announce that pre-market futures for HYPE will be delivered at 10:00 am UTC on February 21, 2025.

1. Delivery price

• Index price: OKX will include prices from more than 3 mainstream exchanges as part of the index components.

• Delivery price: OKX will deliver futures contract positions at the arithmetic average price of the corresponding OKX index price timed at 1 hour prior to the delivery. If the traded price displays abnormalities in the hour preceding the delivery, OKX may adjust the final delivery price to a reasonable level for delivery.

Within the first 30 minutes after the delivery, if you hold positions greater than 10,000 USD in value in HYPEUSDT futures contracts at the time of delivery, you will be restricted from transferring assets out of your trading account.

Asset transfers will return to normal after 30 minutes. Order history and billing records will still be available after the delivery. If you need to backup your data, you may download it via Order center on OKX web.

Considering that the market may fluctuate sharply before delivery, please manage your risk level by reducing the actual leverage or closing positions in advance. In case of an overloss upon delivery, your losses will be reimbursed with the insurance fund. If the insurance fund is not enough, the system will automatically reduce positions of users with high profit rates.

2. Settlement fees

The settlement fee is 1%, subject to adjustment as announced.

3. Price limits

After pre-market contract generation:

• Highest price of buy order = Average mid price of the past hour × (1 + 15%)

• Lowest price of sell order = Average mid price of the past hour × (1 – 15%)

Within 60 minutes before delivery:

• Highest price of buy order = Index Price × (1 + 5%)

• Lowest price of sell order = Index Price × (1 – 5%)

• Mid price = (Best bid price + Best ask price) / 2. Price limits are calculated every minute.

Risk warning:

The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty or any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become illiquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to Terms of Service and Risk & Compliance Disclosure for more information.

For any inquiries, please feel free to contact us via the support center or connect with us on any platform of your choice.

OKX team

February 19, 2025