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      OKX to enable Margin Trading & Savings and list USDT-margined perpetual swaps for LDO, MAGIC, GMX

      OKX's logo OKX
      We are pleased to announce that LDO, MAGIC, GMX margin trading and savings will be enabled at 7:00 am UTC on February. 2. USDT-margined perpetual swaps for LDO, MAGIC, GMX will be listed at the same time.
      The updates will cover both the web and app interfaces as well as API. The details are as follows:
      I. Margin Trading and Savings
      1. Spot margin trading will be activated for following pairs: LDO/USDT, MAGIC/USDT, GMX/USDT
      2. For the details of the tiered margin ratio, please refer to Margin Borrowing Position Tiers after the official listing.
      3. For the limits of savings, please refer to the Business Rules for Savings after the official listing.
      II. Perpetual Swap Trading
      LDOUSDT Perpetual Swap:
      Feature
      Details
      Underlying
      LDO/USDT Index
      Settlement asset
      USDT
      Face value
      1 LDO
      Price quotation
      1 LDO value calculated in USDT equivalent
      Tick size
      0.0001
      Leverage
      0.01~50x
      Funding rate
      Clamp(MA(((best bid best offer) / 2 - spot index price)/spot index price - interest), -0.75%, 0.75%), interest = 0
      Trading hours
      24/7
      MAGICUSDT Perpetual Swap:
      Feature
      Details
      Underlying
      MAGIC/USDT Index
      Settlement asset
      USDT
      Face value
      1 MAGIC
      Price quotation
      1 MAGIC value calculated in USDT equivalent
      Tick size
      0.001
      Leverage
      0.01~20x
      Funding rate
      Clamp(MA(((best bid best offer) / 2 - spot index price)/spot index price - interest), -0.75%, 0.75%), interest = 0
      Trading hours
      24/7
      GMXUSDT Perpetual Swap:
      Feature
      Details
      Underlying
      GMX/USDT Index
      Settlement asset
      USDT
      Face value
      0.1 GMX
      Price quotation
      1 GMX value calculated in USDT equivalent
      Tick size
      0.01
      Leverage
      0.01~20x
      Funding rate
      Clamp(MA(((best bid best offer) / 2 - spot index price)/spot index price - interest), -0.75%, 0.75%), interest = 0
      Trading hours
      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 February. 2 is 0.03%. After 16:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 1.50% (the funding fee of this period will be charged at 8:00 am UTC on February. 3).
      The price limit rules of LDO, MAGIC, GMX USDT-margined perpetual swap trading are the same as those of other currencies. Please refer to our perpetual swap trading guides for further details.
      USDT-margined perpetual swap trading: OKX USDT Margined Perpetual Swap Trading User Agreement & Guide
      OKX
      February. 1, 2023 (UTC)

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      Read the original article at okex

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