OKX Introduces Perpetual Futures for Convex Finance (CVX) Alongside Margin Trading and Simple Earn

OKX,
a
leading
cryptocurrency
exchange,
will
enable
USDT-margined
perpetual
futures
for
Convex
Finance
(CVX)
at
8:30
am
UTC
on
June
25,
2024,
according
to
an
announcement
from
the
company.
Additionally,
the
platform
will
launch
CVX
margin
trading
and
Simple
Earn
at
8:00
am
UTC
on
the
same
day.

Margin
Trading
and
Simple
Earn

The
new
offerings
will
be
accessible
via
both
the
web
and
app
interfaces,
as
well
as
through
the
API.
The
CVX/USDT
spot
margin
trading
pair
will
be
activated,
providing
traders
with
new
opportunities
to
leverage
their
positions.
Detailed
information
about
the
tiered
margin
levels
can
be
found
on
the

OKX
Margin
Borrowing
Position
Tiers
page.

For
those
interested
in
the
Simple
Earn
program,
the
limits
and
rules
are
available
in
the

Introduction
to
OKX
Simple
Earn
and
Its
Rules
section
on
the
OKX
website.

Perpetual
Futures
Trading

The
CVXUSDT
perpetual
futures
will
feature
a
CVX/USDT
index
as
the
underlying
asset,
with
USDT
as
the
settlement
cryptocurrency.
The
contract
will
have
a
face
value
of
1,
and
the
price
quotation
will
be
calculated
based
on
the
USDT
equivalent
of
1
CVX.
The
tick
size
is
set
at
0.001,
and
traders
can
utilize
leverage
ranging
from
0.01x
to
20x.
Trading
will
be
available
24/7,
offering
continuous
opportunities
for
market
participation.

Funding
fees
are
calculated
using
the
formula:
Clamp(MA([(Best
bid
+
Best
offer)
/
2
–
Spot
index
price]
/
Spot
index
price
–
Interest),
-0.75%,
0.75%),
with
interest
set
at
0.
Notably,
to
avoid
unreasonable
charges
due
to
initial
premium
instability,
the
upper
limit
of
the
funding
fee
will
be
capped
at
0.03%
until
4:00
pm
UTC
on
June
25,
2024.
After
this
period,
the
upper
limit
will
revert
to
the
normal
1.50%,
with
the
first
fee
charged
at
12:00
am
UTC
on
June
26,
2024.

The
price
limit
rules
for
CVX
USDT-margined
perpetual
futures
will
align
with
those
of
other
cryptocurrencies
on
the
platform.
Traders
are
encouraged
to
refer
to
the
perpetual
futures
trading
guides
available
on
the
OKX
website
for
comprehensive
details.

For
more
information,
visit
the

official
OKX
announcement.

Image
source:
Shutterstock