OKX to list perpetual for ID crypto, along with its margin trading and Simple Earn

We are pleased to announce that USDT-margined perpetual swaps for ID will be enabled at 10:00 am UTC on December 8. ID margin trading and Simple Earn will be enabled at 8:00 am UTC on December 8.
The updates will cover both the web and app interfaces as well as the API. The details are as follows:

I. Margin trading and Simple Earn

Spot margin trading will be activated for the following pair: ID/USDT.
For the details of the tiered margin level, please refer to Margin Borrowing Position Tiers after the official listing.
For the limits of Simple Earn, please refer to the Introduction to OKX Simple Earn and Its Rules after the official listing.

II. Perpetual swap trading
IDUSDT perpetual swap:

Features	Details
Underlying	ID/USDT Index
Settlement asset	USDT
Face value	10
Price quotation	1 ID value calculated in USDT equivalent
Tick size	0.0001
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 a new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 4:00 pm UTC on December 8 is 0.03%. After 4:00 pm UTC on December 8, the upper limit of the predicted funding rate will be adjusted back to normal 1.50% (the funding fee for this period will be charged at 8:00 am UTC on December 9).

The price limit rules of ID 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 Perpetual Swap Trading User Agreement.

OKX team
December 8, 2023

Read the original article at okex

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