Cryptocurrency exchange OKX announced the introduction of USDT margin perpetual futures for the ULTI token, along with enabling margin trading and Simple Earn features for the same token. According to OKX, the new product will be available starting June 7, 2024 at 7:30 AM (UTC).
Margin trading and simple accumulation
The margin trading feature has been activated for the ULTI/USDT trading pair, allowing users to trade on margin. After official listing, users will be able to review detailed tier margin levels on the OKX platform. Additionally, the Simple Earn feature has also been activated, giving users another way to earn money on their ULTI holdings. Specific limits for the Simple Earn feature can be accessed through OKX’s official resource after-list.
perpetual futures trading
For those interested in perpetual futures trading, the feature-rich ULTIUSDT perpetual futures contract is available. The underlying asset of this contract is the ULTI/USDT index, settled in USDT with a par value of 100. Price quotes are calculated based on USDT equivalent to tick size 0.00001, 1 ULTI. Leverage options range from 0.01x to 50x, allowing traders to adjust their risk exposure appropriately.
Funding fees for these contracts are calculated using a formula that includes the highest bid and ask prices, the spot index price, and an interest factor that is currently set to zero. To protect traders from unfair charges, we will cap funding fees at 0.03% until June 7, 2024 at 4:00 PM (UTC). After this period, the cap will revert to the normal rate of 1.50%. The first funding fee of the period will be charged at 12:00 AM UTC on June 8, 2024.
Perpetual futures trading is available 24/7 and provides continuous access to trading opportunities. OKX also assured users that the price limit rules for ULTI USDT Margined Perpetual Futures will be consistent with those applicable to other cryptocurrencies on the platform. Detailed information and user guides can be found on the OKX website.
For more information about the new features, please refer to OKX’s official announcement.
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