OKX Enables Perpetual Futures for NOT Crypto
In a significant development, leading cryptocurrency exchange OKX has announced that it will enable USDT-margined perpetual futures for NOT cryptocurrency. The new offering will be activated at 12:30 pm UTC on May 16, 2024.
Along with this, NOT margin trading and Simple Earn will also be enabled at 4:00 am UTC on May 17, 2024. The updates will be applicable across the web and app interfaces as well as the API.
Details of Margin Trading and Simple Earn
As part of the announcement, OKX has activated spot margin trading for the NOT/USDT pair. For detailed information about the tiered margin level and limits of Simple Earn, users can refer to the ‘Margin Borrowing Position Tiers’ and ‘Introduction to OKX Simple Earn and Its Rules’ after the official listing.
Aspects of NOTUSDT Perpetual Futures
The NOTUSDT perpetual futures have several features. The underlying is the NOT/USDT index and the settlement crypto is USDT. The face value is 100 and the price quotation is 1 NOT value calculated in USDT equivalent. The tick size is 0.000001 and the leverage is between 0.01-50x. Trading hours are available 24/7.
It’s worth noting that when a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding fee before 4:00 pm UTC on May 16, 2024, is set at 0.03%. After that, the upper limit of the predicted funding fee will be adjusted back to normal 1.50%.
The price limit rules of NOT USDT-margined perpetual futures trading are the same as those of other currencies. For further details, users can refer to the OKX Perpetual Futures Trading User Agreement.
The new offerings are seen as a significant expansion of OKX’s services, providing users with more opportunities in the thriving crypto market.
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Source: https://blockchain.news/news/okx-introduces-perpetual-futures-not-crypto