Dear OKX Users,
To enhance investor protection and improve risk control, we are upgrading our price limit rules with the following adjustments:
1. Futures Contracts Price Limit Mechanism
Initial Phase (First 10 Minutes After Contract Creation)
- Maximum Price = Spot Index × (1 + 5%)
- Minimum Price = Spot Index × (1 - 5%)
Post-Initial Phase (After 10 Minutes)
- Maximum Price Limit = Min[ Max(Index, Index × 1.03 + 10-minute Premium Average), Index × 1.25 ]
- Minimum Price Limit = Max[ Min(Index, Index × 0.97 + 10-minute Premium Average), Index × 0.75 ]
2. Perpetual Contracts Price Limit Mechanism
Initial Phase (First 10 Minutes After Contract Creation)
- Maximum Price = Spot Index × (1 + 0.5%)
- Minimum Price = Spot Index × (1 - 0.5%)
Post-Initial Phase (After 10 Minutes)
- Maximum Price Limit = Min[ Max(Index, Index × 1.01 + 10-minute Premium Average), Index × 1.02 ]
- Minimum Price Limit = Max[ Min(Index, Index × 0.99 + 10-minute Premium Average), Index × 0.98 ]
Key Definitions:
- Index: Spot index price.
- 10-Minute Premium Average: Calculated using 1-minute K-line data from the past 10 minutes. The average difference between contract and index prices is derived from the midpoint of each minute’s open/close prices.
👉 Learn how these changes impact your trading strategy
Implementation Scope & Rollout Schedule
These rules apply to all cryptocurrency contracts (including USDT and coin-margined contracts). Both opening and closing positions are subject to these limits:
- Buy/Long or Sell/Short Orders: Trigger price limits if the bid exceeds the maximum or falls below the minimum.
Gradual Rollout Timeline:
| # | Date | Cryptocurrencies | Duration |
|---|---|---|---|
| 1 | Feb 17 | TRX | 1 week |
| 2 | Feb 24 | XRP | 1 week |
| 3 | Mar 2 | ETC | 2 weeks |
| 4 | Mar 16 | BSV, BCH | 2 weeks |
| 5 | Mar 23 | LTC, EOS | 1 week |
| 6 | Mar 30 | BTC, ETH | 1 week |
FAQs
Q1: Why is OKX adjusting price limits?
To mitigate extreme market volatility and protect traders from sudden price swings.
Q2: How does the 10-minute premium average work?
It smooths out temporary price discrepancies between futures and spot markets by averaging deviations over a rolling 10-minute window.
Q3: Will these changes affect existing positions?
No, only new orders placed after the rules take effect for each currency.
Q4: Where can I check the current spot index price?
The index is visible in real-time on OKX’s trading interface under "Market Data."
👉 Explore OKX’s advanced trading tools
OKX remains committed to delivering superior products and services for your trading journey.
Updated: February 12, 2024 (HKT)
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