Dear OKX Users,
OKX is pleased to announce the updated launch schedule for the PENGUUSDT Perpetual Contract. Trading will officially commence on December 17, 2024, at 23:55 (UTC+8) across web, mobile app, and API platforms. Below are the detailed specifications:
Contract Overview
| Contract Specification | Details |
|---|---|
| Underlying Asset | PENGU/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 100 |
| Price Quotation | USDT price per 1 PENGU |
| Minimum Price Movement | 0.000001 |
| Leverage Range | 0.01x – 50x |
| Funding Rate Calculation | Clamp(MA([(Mark Price – Spot Index) / Spot Index – Interest]), -1.5%, 1.5%) Interest = 0 Note: Funding fees are settled hourly |
| Trading Hours | 24/7 |
Special Notes:
- Initial Volatility Period: To ensure fair funding rate calculations during initial volatility, the rate cap will be temporarily set at 0.03% until 00:00 (UTC+8) on December 18, 2024. After this time, the standard cap of 1.5% will apply.
Actual funding fee collection begins at 08:00 (UTC+8) on December 18, 2024.
All other trading rules (e.g., limit orders) align with existing perpetual contracts. For full details, review our documentation:
👉 OKX Perpetual Contract User Agreement
We remain committed to delivering exceptional products and services.
OKX Team
December 17, 2024
FAQs
1. When does PENGUUSDT perpetual contract trading start?
Trading begins at 23:55 (UTC+8) on December 17, 2024.
2. What is the funding rate cap during the initial period?
A reduced cap of 0.03% applies until 00:00 (UTC+8) on December 18, 2024, after which it reverts to 1.5%.
3. Where can I trade PENGUUSDT contracts?
Available on OKX’s web platform, mobile app, and via API.
4. What leverage options are offered?
Leverage ranges from 0.01x to 50x.
5. How is the funding rate calculated?
Based on the difference between the contract’s mark price and spot index, clamped within ±1.5% (with adjustments during the initial period).
For seamless trading, explore OKX’s advanced tools:
👉 Optimize Your Trading Strategy
### Key SEO Elements: