OKX to List USDC Perpetual for BTC, ETH
Gepubliceerd op 17 okt 20224 min. leestijd
We are pleased to announce that USDC-margined perpetual swaps for BTC and ETH will be listed at 7:00 am UTC on October. 18.
The updates will cover both the web and app interfaces as well as API.
The details are as follows:
BTCUSDC Perpetual Swap:
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Features
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Details
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|
Underlying
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BTC/USD Index
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Settlement crypto
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USDC
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|
Face value
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0.0001 BTC
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|
Price quotation
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1 BTC value calculated in USD equivalent
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|
Tick size
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0.01
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Leverage
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0.01-125 x
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|
Funding rate
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Clamp(MA(((best bid + best offer) / 2 - spot index price)／spot index price - interest), -0.75%, 0.75%), interest = 0
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Market hours
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24/7
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ETHUSDC Perpetual Swap:
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Features
|
Details
|
|
Underlying
|
ETH/USD Index
|
|
Settlement crypto
|
USDC
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|
Face value
|
0.001 ETH
|
|
Price quotation
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1 ETH value calculated in USD equivalent
|
|
Tick size
|
0.01
|
|
Leverage
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0.01-125 x
|
|
Funding rate
|
Clamp(MA(((best bid + best offer) / 2 - spot index price)／spot index price - interest), -0.75%, 0.75%), interest = 0
|
|
Market hours
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24/7
|
Note: When the new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 16:00 pm UTC on October. 18 is 0.03%. After 16:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 0.75% (the funding fee of this period will be charged at 8:00 am UTC on October. 19).
Profit and loss calculation
OKX's BTCUSDC perpetual swap and ETHUSDC perpetual swap are quoted at the price of BTC/USD index and ETH/USD index, and all margin requirements, profits and losses are calculated in USDC. If a user's long position value is 1 BTC (10,000 BTCUSDC perpetual swap contracts with face value of 0.0001 BTC), when the BTC price rises by $100, the user's profit will be 100 USDC.
Pnl calculation
PnL of long positions = Face value * Number of contracts * Avg. close price – Face value * Number of contracts * Avg. open price
PnL of short positions = Contract size × Number of contracts × Avg. open price - Contract size × Number of contracts × Avg. close price
Note: Avg. close price and Avg. Open price are both quoted as USD, and Pnl are settled as USDC
Trading fees of USDC-margined perpetual:
| Tier | Total OKB holding | Assets (USD) or 30-day trading volume (USD) | USDC-M perpetual | |
| Maker fee | Taker fee | |||
| Lv 1 | < 500 | < 100,000 / < 50,000,000 | 0.020% | 0.050% |
| Lv 2 | ≥ 500 | < 100,000 / < 50,000,000 | 0.018% | 0.045% |
| Lv 3 | ≥ 1,000 | < 100,000 / < 50,000,000 | 0.017% | 0.040% |
| Lv 4 | ≥ 1,500 | < 100,000 / < 50,000,000 | 0.016% | 0.035% |
| Lv 5 | ≥ 2,000 | < 100,000 / < 50,000,000 | 0.015% | 0.030% |
| VIP 1 | ≥ 100,000 / ≥ 50,000,000 | 0.010% | 0.030% | |
| VIP 2 | ≥ 500,000 / ≥ 100,000,000 | 0.008% | 0.030% | |
| VIP 3 | ≥ 2,000,000 / ≥ 200,000,000 | 0.005% | 0.030% | |
| VIP 4 | ≥ 5,000,000 / ≥ 600,000,000 | 0.002% | 0.025% | |
| VIP 5 | ≥ 10,000,000 / ≥ 1,000,000,000 | 0.000% | 0.025% | |
| VIP 6 | -- / ≥ 1,500,000,000 | -0.010% | 0.025% | |
| VIP 7 | -- / ≥ 2,000,000,000 | -0.015% | 0.025% | |
| VIP 8 | -- / ≥ 20,000,000,000 | -0.015% | 0.020% | |
If users meet the conditions of different fee tiers in terms of spot trading volume, total trading volume of futures and perpetual contracts (USDT-margined, USDC-margined and crypto-margined), options trading volume and total assets, they will enjoy the fee discount of the highest fee tier.
For example, if a user's 30-day spot trading volume is 20,000,000 USD (VIP 2); his total trading volume of futures and perpetual contracts (USDT-margined, USDC-margined and crypto-margined) in the last 30 days is 200,000,000 USD (VIP 3); his 30-day options trading volume is 5,000,000 USD (VIP 1); and his total assets as of today is 5,000,000 USD (VIP 4), he will enjoy fee discounts in all markets as a VIP 4 user.
In the meantime, once the USDC contracts are live, please refer to the trading fee on the "Get fee rates" interface on the API platform. For further information, please go to /docs-v5/zh/#rest-api-account-get-fee-rates
OKX