OKX Introduces ULTI Perpetual Futures, Margin Trading, and Simple Earn

Cryptocurrency
exchange
OKX
has
announced
the
introduction
of
USDT-margined
perpetual
futures
for
the
ULTI
token,
alongside
enabling
margin
trading
and
the
Simple
Earn
feature
for
the
same
token.
The
new
offerings
will
be
available
starting
at
7:30
am
UTC
on
June
7,
2024,
according
to
OKX.

Margin
Trading
and
Simple
Earn

The
margin
trading
feature
will
be
activated
for
the
ULTI/USDT
trading
pair,
allowing
users
to
trade
on
margin.
Detailed
tiered
margin
levels
will
be
available
for
users
to
review
on
the
OKX
platform
after
the
official
listing.
Additionally,
the
Simple
Earn
feature
will
also
be
enabled,
providing
users
with
another
avenue
for
earning
on
their
ULTI
holdings.
Specific
limits
for
the
Simple
Earn
feature
can
be
accessed
through
OKX’s
official
resources
post-listing.

Perpetual
Futures
Trading

For
those
interested
in
perpetual
futures
trading,
the
ULTIUSDT
perpetual
futures
contract
will
be
available
with
various
features.
The
underlying
asset
for
this
contract
will
be
the
ULTI/USDT
index,
settled
in
USDT
with
a
face
value
of
100.
The
price
quotation
will
be
calculated
based
on
the
USDT
equivalent
of
1
ULTI,
with
a
tick
size
of
0.00001.
Leverage
options
range
from
0.01x
to
50x,
allowing
traders
to
adjust
their
risk
exposure
appropriately.

The
funding
fee
for
these
contracts
will
be
calculated
using
a
formula
that
includes
the
best
bid
and
offer
prices,
spot
index
price,
and
an
interest
component,
which
is
currently
set
to
zero.
To
protect
traders
from
unreasonable
charges,
the
upper
limit
of
the
funding
fee
will
be
capped
at
0.03%
until
4:00
pm
UTC
on
June
7,
2024.
After
this
period,
the
upper
limit
will
revert
to
the
normal
rate
of
1.50%,
with
the
first
funding
fee
for
this
period
being
charged
at
12:00
am
UTC
on
June
8,
2024.

The
perpetual
futures
trading
will
be
available
24/7,
providing
continuous
access
to
trading
opportunities.
OKX
has
also
assured
users
that
the
price
limit
rules
for
ULTI
USDT-margined
perpetual
futures
will
be
consistent
with
those
applied
to
other
cryptocurrencies
on
the
platform.
Additional
details
and
user
guides
are
available
on
the
OKX
website.

For
more
information
regarding
the
new
features,
users
can
refer
to
the

official
announcement
by
OKX.

Image
source:
Shutterstock

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