We're excited to announce that FOXY's USDT-margined perpetual futures contracts will be available starting 8:30 AM UTC on April 12, 2024. Additionally, Margin Trading and Simple Earn for FOXY will go live at 4:00 AM UTC on April 17, 2024.
Updates will apply to the OKX website, mobile app, and API. Below are the key details:
I. Margin Trading and Simple Earn
- Spot Margin Trading will be enabled for the FOXY/USDT pair.
- For Margin Tier details, refer to OKX’s official post-listing updates.
- Simple Earn limits will be specified post-listing.
II. Perpetual Futures Trading
FOXYUSDT Perpetual Contracts
| Feature | Details |
|---|---|
| Underlying Asset | FOXY/USDT index |
| Settlement Coin | USDT |
| Contract Size | 100 |
| Pricing | FOXY’s value equivalent in USDT (1 FOXY) |
| Min Price Movement | 0.0000001 |
| Leverage | 0.01x–50x |
| Funding Rate | Calculated as: [(Best Bid + Best Ask)/2 – Spot Index Price] / Spot Index Price – Interest (0%). Capped at ±0.75%. Fees are exchanged hourly. |
| Trading Hours | 24/7 |
Note:
New contracts may initially exhibit premium volatility. To mitigate excessive fees:
- Before 4:00 PM UTC on April 12, 2024, the max funding rate is 0.03%.
- After this time, it resets to the standard 1.50% cap.
- Funding fees for this period will be processed at 12:00 AM UTC on April 13, 2024.
👉 Explore FOXY Trading Strategies
FOXY’s price limit rules align with other USDT-margined perpetual contracts. For guidance, review OKX’s Perpetual Futures Trading Guide.
FAQs
Q1: When does FOXY Margin Trading start?
A1: April 17, 2024, at 4:00 AM UTC.
Q2: What’s the max leverage for FOXY perpetual contracts?
A2: Up to 50x.
Q3: How is the FOXY funding rate calculated?
A3: Based on the midpoint between bid/ask and the spot index price, capped at ±0.75%.
Q4: Are there trading limits for Simple Earn?
A4: Yes, limits will be announced post-listing.
OKX Team
April 12, 2024
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