OKX to list perpetual trading for VELO and RAY crypto, along with their margin trading and Simple Earn

We are pleased to announce that USDT-margined perpetual futures for VELO will be enabled at 8:30 am UTC on March 12, 2024. VELO margin trading and Simple Earn will be enabled at 8:00 am UTC on March 12, 2024. Besides, USDT-margined perpetual futures for RAY will be enabled at 10:30 am UTC on March 12, 2024. RAY margin trading and Simple Earn will be enabled at 10:00 am UTC on March 12, 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: VELO/USDT and RAY/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

VELOUSDT perpetual futures:

Features	Details
Underlying	VELO/USDT index
Settlement asset	USDT
Face value	1000
Price quotation	1 VELO value calculated in USDT equivalent
Tick size	0.000001
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

RAYUSDT perpetual futures:

Feature	Details
Underlying	RAY/USDT index
Settlement asset	USDT
Face value	1
Price quotation	1 RAY 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 March 12, 2024 is 0.03%. After 4:00 pm UTC on March 12, 2024, 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 12:00 am UTC on March 13, 2024).

The price limit rules of VELO and RAY 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

March 12, 2024

Read the original article at okex

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