OKX to list perpetual futures for SWELL crypto

OKX 2024-11-13 11:00:02

We are pleased to announce that USDT-margined perpetual futures for SWELL will be enabled at 8:00 am UTC on November 13, 2024.

The updates will cover both the web and app interfaces as well as the API. The details are as follows:

I. Listing schedule

SWELL/USDT perpetual futures trading will open at 8:00 am UTC on November 13, 2024.

II. Perpetual futures trading

SWELLUSDT perpetual futures:

Swell Network is an ETH liquid staking protocol built specifically for stakers, node operators, and ecosystems such as L2 and Ethereum.

Asset name: Swell
Ticker: SWELL
Website: https://www.swellnetwork.io/
Twitter: https://x.com/swellnetworkio

Features	Details
Underlying	SWELL/USDT index
Settlement crypto	USDT
Face value	100
Price quotation	1 SWELL 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), -1.5%, 1.5%), Interest = 0 Note: Funding fees are received and deducted based on the current period.
Funding interval	4 hours
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 November 13, 2024 is 0.03%. After 4:00 pm UTC on November 13, 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 8:00 pm UTC on November 13, 2024.)

The price limit rules of SWELL 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

November 13, 2024

Read the original article at OKX