We’re excited to announce that OKX will enable margin trading and savings for MIR and TORN, alongside the listing of their USDT-margined perpetual swaps, starting at 9:00 am UTC on February 24. These updates will be available across OKX’s web platform, mobile app, and API. Below, we break down the key details to help you navigate these new offerings.
I. Margin Trading and Savings
1. Supported Trading Pairs
Spot margin trading will be activated for:
– MIR/USDT
– TORN/USDT
2. Tiered Margin Ratios
For specifics on margin requirements, refer to OKX’s Margin Borrowing Position Tiers after the official listing.
3. Savings Limits
Details on savings limits and rules can be found in the Business Rules for Savings post-launch.
👉 Explore OKX’s margin trading features
II. Perpetual Swap Trading
1. Contract Specifications
MIRUSDT Perpetual Swap
| Feature | Details |
|---|---|
| Underlying | MIR/USDT Index |
| Settlement Asset | USDT |
| Face Value | 1 MIR |
| Price Quotation | 1 MIR value in USDT |
| Tick Size | 0.001 |
| Leverage | 0.01–75x |
| Funding Rate Formula | Clamp(MA(((best bid + best offer)/2 - spot index price)/spot index price - interest), -0.75%, 0.75%) |
| Trading Hours | 24/7 |
TORNUSDT Perpetual Swap
| Feature | Details |
|---|---|
| Underlying | TORN/USDT Index |
| Settlement Asset | USDT |
| Face Value | 0.01 TORN |
| Price Quotation | 1 TORN value in USDT |
| Tick Size | 0.1 |
| Leverage | 0.01–75x |
| Funding Rate Formula | Clamp(MA(((best bid + best offer)/2 - spot index price)/spot index price - interest), -0.75%, 0.75%) |
| Trading Hours | 24/7 |
Important Note:
– To prevent excessive volatility, the funding rate cap will be 0.03% until 4:00 pm UTC on February 24.
– After this period, it reverts to the standard 0.75% limit.
For full trading rules, consult OKX’s Perpetual Swap Trading Guide.
2. Fee Structure
From February 24 to March 25 (9:00 am UTC), OKX offers:
– Zero maker & taker fees for MIR and TORN perpetual swaps.
– Note: Trading volume from these pairs does not count toward VIP tier upgrades.
👉 Start trading with zero fees on OKX
3. Promotional Incentives
To celebrate the launch, OKX is distributing 50,000 USDT in rewards for traders between February 24–March 2 (9:00 am UTC).
FAQs
1. What time do MIR/TORN margin trading and perpetual swaps go live?
Both services launch at 9:00 am UTC on February 24.
2. Are there any trading fee discounts?
Yes! Zero fees apply for MIR/TORN perpetual swaps until March 25.
3. How does the funding rate work for new contracts?
Initially, the rate is capped at 0.03% to prevent volatility, adjusting to 0.75% after February 24.
4. Where can I check margin requirements?
Refer to OKX’s Margin Borrowing Position Tiers post-launch.
5. Is leverage adjustable for these perpetual swaps?
Yes, leverage ranges from 0.01x to 75x.
6. How do I qualify for the 50,000 USDT promotion?
Trade MIR/TORN perpetual swaps between February 24–March 2 to participate.
Regards,
OKX Team
February 24, 2021 (UTC)