Dear OKX Users,
We're excited to announce the official launch of SUIUSD and TONUSD perpetual contracts on OKX web, mobile app, and API interfaces. The contracts will become available between 3:00 PM - 3:30 PM UTC+8 on October 18, 2024, with these key details:
1. Launch Schedule
- SUIUSD Contract Trading: Begins at 3:00 PM UTC+8 (October 18)
- TONUSD Contract Trading: Begins at 3:15 PM UTC+8 (October 18)
👉 Discover how perpetual contracts work
2. Contract Specifications
SUIUSD Perpetual Contract
| Contract Feature | Details |
|---|---|
| Underlying Asset | SUI/USD Index |
| Settlement Currency | SUI |
| Contract Face Value | 10 |
| Price Quotation | USD price per 1 SUI |
| Minimum Price Movement | 0.0001 |
| Leverage | 0.01x - 20x (adjustable) |
| Funding Fee Formula | Clamp(MA([(Best Bid + Best Ask)/2 - Spot Index]/Spot Index - Interest), -1.5%, 1.5%) where Interest = 0 |
| Trading Hours | 24/7 |
TONUSD Perpetual Contract
| Contract Feature | Details |
|---|---|
| Underlying Asset | TON/USD Index |
| Settlement Currency | TON |
| Contract Face Value | 10 |
| Price Quotation | USD price per 1 TON |
| Minimum Price Movement | 0.001 |
| Leverage | 0.01x - 20x (adjustable) |
| Funding Fee Formula | Same as SUIUSD contract |
| Trading Hours | 24/7 |
3. Index Composition
SUIUSD Index Sources
| Exchange | Weight |
|---|---|
| Binance | 30.76% |
| Bybit | 23.07% |
| Gate | 15.38% |
| OKX | 30.76% |
TONUSD Index Sources
| Exchange | Weight |
|---|---|
| Bybit | 27.27% |
| OKX | 36.36% |
| Kucoin | 18.18% |
| Gate | 18.18% |
Special Note: To ensure fair funding fee calculations during initial volatility, the funding rate cap will be temporarily set at 0.03% until 12:00 AM UTC+8 on October 19, 2024, after which it returns to the standard 1.50% cap. Actual fee collection occurs at 8:00 AM UTC+8 on October 19.
👉 Learn about trading strategies for new contracts
FAQ Section
Q: What makes perpetual contracts different from futures?
A: Perpetual contracts have no expiry date and use funding fees to maintain price alignment with spot markets.
Q: How often are funding fees exchanged?
A: Funding occurs every 8 hours at 8:00 AM, 4:00 PM, and 12:00 AM UTC+8.
Q: Can I use cross-margin for these contracts?
A: Yes, both isolated and cross-margin modes are supported.
Q: What's the minimum order size?
A: The face value is 10 for both contracts, with order details matching OKX's standard perpetual contract rules.
OKX remains committed to delivering exceptional trading products and services. Happy trading!
OKX Team
October 16, 2024