We are excited to announce that OKX will officially enable margin trading and savings for SWEAT, alongside listing a USDT-margined perpetual swap for the token. These updates are scheduled to go live at 7:00 am UTC on September 15, enhancing trading flexibility and earning opportunities for users across both web and app platforms, as well as via API integration.
Key Features and Launch Timeline
The integration of SWEAT into OKX’s advanced financial products marks a significant step in supporting diverse trading strategies. From the specified launch time, users will gain access to the following features:
- Spot Margin Trading: The SWEAT/USDT trading pair will be available for margin trading, allowing users to leverage their positions.
- Savings: Users can earn yields on their SWEAT holdings through the savings product.
- USDT-Margined Perpetual Swap: A new derivatives contract for SWEAT will be listed, enabling traders to speculate on future price movements without an expiry date.
All services will be accessible simultaneously across OKX’s platforms.
In-Depth: Margin Trading and Savings
Engaging in margin trading allows you to borrow funds to amplify your trading position, potentially increasing both gains and losses. The newly supported SWEAT/USDT pair will be available for this purpose.
It is crucial to understand the associated risks and mechanics before participating. The platform employs a tiered margin system, which dictates the borrowing limits and maintenance margins based on your total equity and position size. For a comprehensive breakdown of these tiers and how they apply to your account, please review the official margin borrowing documentation after the listing goes live.
Similarly, the savings product offers a way to generate passive income on idle SWEAT tokens. The specific interest rates, subscription limits, and redemption rules are governed by OKX’s savings business rules. We recommend consulting this detailed guide to understand the current offers and applicable terms fully.
👉 Review the latest margin trading tiers and rules
A Closer Look at the SWEAT Perpetual Swap
The introduction of the SWEATUSDT perpetual swap provides a powerful tool for derivatives traders. Below is a detailed specification table for the new contract.
| Feature | Details for SWEATUSDT Perpetual |
|---|---|
| Underlying Index | SWEAT/USDT Index |
| Settlement Asset | USDT |
| Contract Face Value | 100 SWEAT |
| Price Quotation | USDT value of 1 SWEAT |
| Minimum Price Movement (Tick Size) | 0.0000001 |
| Available Leverage | 0.01x to 75x |
| Funding Rate Mechanism | Calculated based on the difference between the contract mark price and the spot index price. The rate is clamped between -0.75% and +0.75%. |
| Trading Schedule | 24 hours a day, 7 days a week |
Important Note on Initial Funding Rates
Due to potential price volatility and premium instability when a new contract is launched, OKX implements a protective measure. Before 16:00 UTC on September 15, the maximum absolute funding rate will be temporarily capped at 0.03%. This helps prevent unreasonable charges for traders during the initial period of price discovery.
After this time, at 16:00 UTC, the predicted funding rate上限 will return to the standard 0.75%. The first funding fee under the normal regime will be charged at 08:00 UTC on September 16.
The price limit rules for the SWEAT perpetual swap align with those for other similar contracts on the OKX platform. For an exhaustive guide on how perpetual swaps work, including funding rate calculations, liquidation processes, and order types, please refer to the platform’s official perpetual swap trading guides.
👉 Explore advanced perpetual swap trading strategies
Frequently Asked Questions
Q: What time exactly do SWEAT margin trading and perpetual swaps go live?
A: All new SWEAT services—including margin trading, savings, and the perpetual swap—will be enabled simultaneously at 7:00 am UTC on September 15.
Q: What is the tick size for the new SWEAT perpetual swap?
A: The minimum price movement, or tick size, for the SWEATUSDT perpetual swap is 0.0000001. This defines the smallest increment by which the contract's price can change.
Q: Why is there a temporary cap on the funding rate initially?
A: Newly listed perpetual contracts often experience high volatility and an unstable premium. The temporary cap of 0.03% until 16:00 UTC on launch day protects traders from exceptionally high funding fees during this initial unstable period.
Q: What leverage can I use for the SWEAT perpetual swap?
A: The contract supports flexible leverage from a minimum of 0.01x up to a maximum of 75x. Remember that higher leverage magnifies both potential profits and losses.
Q: Where can I find the rules for the savings product?
A: The specific details, including interest rates, limits, and terms for the SWEAT savings product, are outlined in OKX's Business Rules for Savings. This document is available on their website and should be reviewed before participating.
Q: Is the perpetual swap settled in crypto or stablecoin?
A: The listed SWEAT perpetual swap is USDT-margined. This means all profits, losses, and margin requirements are calculated and settled in USDT, not in the underlying SWEAT token.
The expansion of SWEAT trading options on OKX provides the community with more ways to interact with the asset, whether for leveraged trading, hedging, or earning yield. As always, we encourage all users to conduct their own research, understand the risks involved in margin and derivatives trading, and never invest more than they are willing to lose.