Dear OKX Users,
OKX will officially list the PENGU/USDT perpetual contract on December 17, 2024, at 23:55 (UTC+8) across web, mobile app, and API platforms. Below are the detailed specifications:
Contract Overview
| Contract Feature | Details |
|---|---|
| Underlying Asset | PENGU/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 100 |
| Price Quotation | USDT price per 1 PENGU |
| Minimum Price Increment | 0.000001 |
| Leverage Range | 0.01–50x |
| Funding Fee Mechanism | Clamp(MA([(Contract Bid + Ask)/2 – Spot Index] / Spot Index – Interest), -1.5%, 1.5%) with Interest = 0. Fees are settled hourly. |
| Trading Hours | 24/7 |
Special Notes:
- Initial Launch Period: To mitigate excessive volatility, funding rate caps are temporarily set at 0.03% until 00:00 (UTC+8) on December 18, 2024, after which the standard 1.5% cap resumes. Actual fee collection begins at 08:00 (UTC+8) that day.
- Trading rules (e.g., limit orders) align with other perpetual contracts. Refer to the 👉 USDT-Margined Perpetual Contracts Guide for details.
OKX remains committed to delivering exceptional products and services.
OKX Team
December 17, 2024
FAQs
1. What leverage is available for PENGU perpetual contracts?
PENGU/USDT contracts support flexible leverage from 0.01x to 50x, allowing traders to adjust risk exposure.
2. How are funding fees calculated?
Fees use a clamped moving average of the premium/discount between contract mid-price and spot index, with a ±1.5% limit (temporarily 0.03% at launch).
3. Can I trade PENGU contracts outside the specified launch time?
Yes! Trading is available 24/7 once the contract goes live.
4. Where can I find official contract documentation?
Explore the full terms in 👉 OKX's Perpetual Contracts Agreement.