OKEx bitcoin exchange will offer users new cryptocurrency derivatives - perpetual swaps. Product launch is scheduled for December 11th.
Perpetual swaps are futures contracts with no specific expiration dates and with the possibility of withdrawal at any time. In addition, 100-fold leverage will be available to traders.
Financing fees will be charged daily at 9:00 UTC, and the funding rate will be updated at 9:59 UTC.
This marks a key milestone for OKEx. The launch of perpetual swap demonstrates our continuous commitment to building a complete financial ecosystem for blockchain and crypto. With the new offering, investors and traders can select the products which best fit their trading and hedging strategies. However, we would like to remind our users that due to its high-leverage nature, implementing risk control strategies are equally crucial in trading.
Financial Market Director, OKEx
The new mechanism of forced liquidation of open positions also implies partial liquidation in order to minimize the impact of the procedure on the market.