OKX Enables Perpetual Futures for NOT Crypto
In a major development, leading cryptocurrency exchange OKX has announced that it will enable perpetual futures with USDT margin for NON-cryptocurrencies. The new offer will be activated on May 16, 2024 at 12:30 UTC.
In addition, NOT margin trading and Simple Earn will also be enabled on May 17, 2024 at 4:00 AM UTC. The updates will apply to the web and app interfaces, as well as the API.
Details of margin trading and easy earning
As part of the announcement, OKX has activated spot margin trading for the NOT/USDT pair. For detailed information about Simple Earn’s tiered margin level and limits, users can refer to the ‘Margin Borrowing Position Tiers’ and ‘Introduction to OKX Simple Earn and its Rules’ after the official list.
Aspects of NOTUSDT perpetual futures
The NOTUSDT perpetual futures have several features. The underlying asset is the NOT/USDT index and the settlement crypto is USDT. The face value is 100 and the quote is 1. NO value calculated in USDT equivalent. The tick size is 0.000001 and the leverage is between 0.01-50x. Trading times are available 24/7.
It is worth noting that when a new contract is launched, the premium is unstable. To avoid unreasonable costs, the upper limit of the financing costs before 4:00 PM UTC on May 16, 2024 is set at 0.03%. The upper limit of the predicted financing fee will then be adjusted back to the normal 1.50%.
The price limit rules for perpetual futures trading with NO USDT margin are the same as other currencies. For more details, users can refer to the OKX Perpetual Futures Trading User Agreement.
The new offering is seen as a significant expansion of OKX’s services, giving users more opportunities in the booming crypto market.
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