OKEx Launches Perpetual Swaps For ETC and LTC
As crypto markets are maturing, the products delivered by exchanges for traders and investors are also becoming more sophisticated and exotic. One such product is the Perpetual Swap and, OKEx has recently started providing it to its customers. While it’s over a month since the exchange started with perpetual swaps, it has recently added ETC and LTC perpetual contracts.
Perpetual swap to provide 40x leverage to traders trading LTC and ETC
According to the latest announcement issued by OKEx, the Malta-based cryptocurrency exchange has added perpetual swaps for Ethereum Classic (ETC) and Litecoin (LTC). The swaps were available for trade from 11:00 am Jan 2, 2019 (CET, UTC+1).
The specification of this new derivative is as follows:
Ethereum Classic
- Contract Face Value- USD 10
- Minimum Price Interval- 0.001 point
- Leverage- 1-40x
- Funding Fee and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)
- Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest),+0. 2,0/2 %)
Litecoin
- Contract Face Value- USD 10
- Minimum Price Interval- 0.01 point
- Leverage- 1-40x
- Funding Fee and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)
- Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest),+0. 2,0/2 %)
The constituents for both these products are;
Ethereum Classic
| Exchange | Trading Pair | Weight |
| GDAX | ETC/USD | 25% |
| Binance | ETC/BTC | 25% |
| OKEx | ETC/BTC | 25% |
| Kraken | ETC/USD | 25% |
Litecoin
| Exchange | Trading Pair | Weight |
| GDAX | LTC/USD | 25% |
| Binance | LTC/BTC | 25% |
| Bitstamp | LTC/USD | 25% |
| Kraken | LTC/USD | 25% |
The exchange is already providing perpetual swaps for EOS, ETH, BCH, BSV, and XRP and has now ETC and LTC
Perpetual swap is a game played by experienced and matured traders and, providing a variety of perpetual swaps will definitely attract new eyeballs to OKEx. This will also boost the volumes on the exchange for said coins.
Will OKEx be able to pull inexperienced traders to itself by way of perpetual swaps? Do let us know your views on the same.
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