OKEx announced today that new trading pairs for Dash would be live from 07:00 Mar 11, 2020 (UTC). The new couples are DASH/USD and DASH/USDT and will be live on the OKEx website and API. OKEx has announced new perpetual swaps for LINK, too. Users can start perpetual swapping LINK/USD and LINK/USDT from 07:00 Mar 9, 2020 (UTC).
Perpetual Swap Trading
OKEx has price limit rules for perpetual swap trading. The rules for new DASH pairs are the same as other cryptocurrencies, according to the OKEx announcement.
Perpetual swap trading is a special kind of future trading that major exchanges provide to users. Users in perpetual swapping have two options to gain from cryptocurrency volatility. They can long a position in trading to earn from the increase of a digital asset’s price or short a position to earn from one’s decrease in price.
Perpetual swap is very similar to regular future trading but has some differences, too. For example, there will be no delivery date for those trades, and they never expire. Because of that, there will be a funding mechanism to ensure the digital assets’ price is anchored to spot markets. Besides, there is a daily settlement process that acts at an exact time of every day and increases the flexibility of capital utilization.
OKEx has a ranking system for users in a perpetual and future trading system. The ranking is called tiers. The more users deposit and trade daily and monthly, their tier gets higher, and there will some benefits for that. There are some rules and limitations to improve the tier. For example, users with more than 5,000 trading volumes a month, are called VIP. There is ranking among VIP members, too, and the more a user trades, the level goes higher.
Maker fee and taker fee are based on the tier of the user in the future trading and perpetual swaps. Users with the lowest tier (Lv1) take 0.0% maker and 0.08% taker fee, while highest rated users (VIP7 with more than 200,000 BTC trading volume a month) take -0.035% maker and 0.060% taker fee.