Maltese cryptocurrency exchange OKEx announced the launch of a new financial instrument on its platform - an perpetual swap on Ethereum.
Users got the new tool today. It allows you to trade cryptocurrency with leverage up to x40. Its mechanism is in many ways reminiscent of a futures contract with the difference that a perpetual swap does not have an expiration date. The cost of each contract is $ 10.
Under the terms of the contract, users can buy or sell ETH at a set price at a certain point in the future, thanks to which they have access to both long and short positions. To determine the price of the instrument in equal shares, data from the exchanges Bitstamp, OKEx, Bitfinex, GDAX and Gemini are used in pairs with USD and BTC.
The launch of a similar derivative for Bitcoin took place earlier this month.
Also in the near future, OKEx promises to launch perpetual swaps on Litecoin, Ethereum Classic, XRP, Bitcoin Cash and Bitcoin Satoshi Vision, which will be announced separately.