Dear OKX Users,
We're excited to announce the official launch of ID/USDT perpetual contracts across web, mobile app, and API platforms on December 8, 2023, at 6:00 PM (UTC+8). Additionally, margin trading and Simple Earn products for ID/USDT pairs will become available at 4:00 PM (UTC+8) on the same day.
Key Features and Rules
1. Margin Trading and Simple Earn
- Currency Pair Availability: ID will support USDT-paired margin trading
- Leverage Tiers: Refer to our 👉 Margin Trading Position Tier Guide after launch for detailed margin levels
- Simple Earn Limits: Check the 👉 Simple Earn Product Rules post-launch for allocation details
2. Perpetual Contracts Specifications
| Contract Element | Details |
|---|---|
| Underlying Asset | ID/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10 |
| Price Quotation | USDT price per 1 ID |
| Minimum Price Movement | 0.0001 |
| Leverage Range | 0.01x - 20x |
| Funding Rate Calculation | Clamp(MA([(Best Bid + Best Ask)/2 - Spot Index]/Spot Index - Interest), -0.75%, 0.75%) with Interest = 0 |
| Trading Hours | 24/7 |
Special Note: During initial launch (until December 9, 2023, 00:00 UTC+8), funding rate caps will be temporarily set at 0.03% to ensure fair calculations during price instability. Normal 1.50% caps will resume thereafter.
All other trading rules (including limit orders) align with our standard perpetual contract protocols. Review our 👉 Perpetual Contract User Agreement for complete details.
FAQ Section
Q1: What makes ID perpetual contracts different from other crypto contracts?
A: While maintaining standard OKX contract features, ID contracts implement temporary funding rate caps during the initial stabilization period to protect traders.
Q2: Can I use cross-margin for ID trading?
A: Yes, both isolated and cross-margin modes will be available for ID/USDT pairs.
Q3: What's the minimum investment for Simple Earn products?
A: Minimum thresholds vary by product type - check the Simple Earn interface after launch for specific requirements.
Q4: How frequently are funding rates calculated?
A: ID/USDT perpetual contracts follow the standard 8-hour funding rate schedule used across OKX's perpetual swap products.
OKX remains committed to delivering exceptional products and services to our valued users. We appreciate your continued support!
Last Updated: December 2023