OKEx Bitcoin Exchange will offer users new cryptocurrency derivatives – perpetual swaps. Product launch is scheduled for December 11. Representatives of the exchange said this at a NextGen conference.
Perpetual swaps are futures contracts with no specific expiration dates and with the possibility of closing at any time. In addition, 100-fold leverage will be available to traders.
Financing fees will be charged daily at 9:00 UTC, and the funding rate will be updated at 9:59 UTC.
The new mechanism of forced liquidation of open positions also implies partial liquidation in order to minimize the impact of the procedure on the market.
Recall that before the hardforks in the Bitcoin Cash network, without warning, OKEx closed several open BCH futures positions for $135 million.
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