OKX to list perpetual for BLOCK crypto, along with its margin trading and Simple Earn
We are pleased to announce that USDT-margined perpetual futures for BLOCK will be enabled at 12:30 pm UTC on April 11, 2024. BLOCK margin trading and Simple Earn will be enabled at 4:00 am UTC on April 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: BLOCK/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
BLOCKUSDT perpetual futures:
Features | Details |
Underlying | BLOCK/USDT index |
Settlement crypto | USDT |
Face value | 10 |
Price quotation | 1 BLOCK value calculated in USDT equivalent |
Tick size | 0.00001 |
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 11, 2024 is 0.03%. After 4:00 pm UTC on April 11, 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 12, 2024.)
The price limit rules of BLOCK 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 11, 2024