Bitaigen Research OKX Announces Perpetual Futures for CHIP
1. New Contract Offering – OKX will add perpetual futures contracts for the CHIP token. The rollout includes two primary trading pairs: CHIP/USDT and CHIP/BTC. Both contracts are designed as linear perpetual swaps with a funding interval of eight hours, mirroring the platform’s standard futures architecture.
2. Launch Schedule – The perpetual futures become active on July 31 2024, 00:00 UTC. Existing OKX users will be able to place orders immediately after the launch, while new account holders must complete the standard KYC verification before accessing the contracts.
3. Leverage and Position Limits – Traders may apply up to 20× leverage on the CHIP/USDT contract and up to 10× leverage on the CHIP/BTC contract. The exchange sets a maximum open interest of 10,000 CHIP per user for each contract to mitigate concentration risk.
4. Fee Structure – OKX implements a tiered fee model for the new futures. Maker orders are charged 0.02 %, while taker orders incur a 0.04 % fee. Users who meet the exchange’s volume‑based discount thresholds can benefit from reduced rates, consistent with OKX’s broader futures pricing scheme.
5. Who Is Affected – The addition primarily impacts traders who already hold CHIP on OKX or who intend to speculate on its price movements via leverage. Market makers, arbitrage bots, and institutional participants will also gain a new instrument for hedging exposure to CHIP.
6. Operational Details – All risk‑management tools available on OKX’s futures platform—such as stop‑loss, take‑profit, and position‑size calculators—are enabled for the CHIP contracts. The exchange will monitor market liquidity closely during the first 48 hours and may adjust contract parameters if needed.
⚠️ Risk Disclaimer: Crypto prices are highly volatile. This is not investment advice.
