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

We are pleased to announce that USDT-margined perpetual futures for MERL will be enabled at 10:30 am UTC on April 19, 2024. MERL margin trading and Simple Earn will be enabled at 4:00 am UTC on April 22, 2024.

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: MERL/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 futures trading

MERLUSDT perpetual futures:

Features	Details
Underlying	MERL/USDT index
Settlement crypto	USDT
Face value	1
Price quotation	1 MERL value calculated in USDT equivalent
Tick size	0.0001
Leverage	0.01-50x
Funding fee	Clamp(MA([(Best bid Best offer) / 2 – Spot index price] / Spot index price – Interest), -0.75%, 0.75%), Interest = 0 Note: Funding fees are received and deducted based on the current period.
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 fee before 4:00 pm UTC on April 19, 2024 is 0.03%. After 4:00 pm UTC on April 19, 2024, the upper limit of the predicted funding fee will be adjusted back to normal 1.50%. (The funding fee for this period will be charged at 12:00 am UTC on April 20, 2024.)

The price limit rules of MERL USDT-margined perpetual futures trading are the same as those of other currencies. Please refer to our perpetual futures trading guides for further details.

USDT-margined perpetual futures trading: OKX Perpetual Futures Trading User Agreement

OKX team

April 19, 2024

Read the original article at okex

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