OKX, a leading cryptocurrency exchange, has expanded its derivatives trading offerings with the introduction of perpetual contracts for two new digital assets: FARTCOIN and AI16Z. This move provides traders with more opportunities to engage with emerging tokens in the market using leveraged positions.
These USDT-margined contracts are designed for seamless trading across all platforms, including web, mobile app, and API interfaces. The launch follows a structured schedule to ensure market stability.
Key Launch Timings
The new perpetual contracts became available for trading on December 20, 2024. The specific listing times were carefully staggered.
- FARTCOINUSDT Perpetual Contract: Trading commenced at 5:00 PM (UTC+8).
- AI16ZUSDT Perpetual Contract: Trading commenced at 5:15 PM (UTC+8).
FARTCOINUSDT Perpetual Contract Overview
FARTCOIN is a token that gained initial attention after being mentioned by an autonomous AI chatbot named Truth Terminal, created by AI researcher Andy Ayrey. Its perpetual contract allows traders to speculate on its price movements against USDT.
| Contract Specification | Details |
|---|---|
| Underlying Asset | FARTCOIN/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 1 |
| Price Quotation | Price of 1 FARTCOIN in USDT |
| Minimum Price Movement (Tick Size) | 0.0001 |
| Leverage | 0.01x to 50x |
| Funding Fee | Clamp(MA([(Contract Best Bid + Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -1.5%, 1.5%), where Interest = 0. Fees are paid and received on a current-period basis. |
| Funding Fee Interval | Every 4 hours |
| Trading Hours | 24/7 |
AI16ZUSDT Perpetual Contract Overview
AI16Z represents a novel concept in the venture capital space, branding itself as the first AI-agent-led venture capital firm. Its team focuses on building the future of artificial intelligence by connecting AI entrepreneurs, investors, and experts to foster ecosystem growth.
| Contract Specification | Details |
|---|---|
| Underlying Asset | AI16Z/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 1 |
| Price Quotation | Price of 1 AI16Z in USDT |
| Minimum Price Movement (Tick Size) | 0.0001 |
| Leverage | 0.01x to 50x |
| Funding Fee | Clamp(MA([(Contract Best Bid + Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -1.5%, 1.5%), where Interest = 0. Fees are paid and received on a current-period basis. |
| Funding Fee Interval | Every 4 hours |
| Trading Hours | 24/7 |
Important Initial Launch Notes
For new contract listings, premium can be highly volatile. To prevent unreasonable funding fee calculations during the initial launch phase, a special measure was implemented.
The upper limit for the funding rate calculation was temporarily set at 0.03% until 12:00 AM (UTC+8) on December 20, 2024. After this time, the cap was adjusted back to the standard maximum of 1.50%. The first actual collection of funding fees occurred at 4:00 AM (UTC+8) on the same day.
Other standard trading rules for these contracts, such as price limits, align with the exchange's standard USDT-margined perpetual contract protocols. For a comprehensive understanding of all trading mechanics and risks involved, it is crucial to review the official documentation. 👉 Explore the full perpetual合约 user agreement
The exchange continues to focus on enhancing its product suite to deliver a superior and reliable trading experience for its global user base.
Frequently Asked Questions
What is a perpetual contract?
A perpetual contract is a type of derivative product that allows you to speculate on the future price of an asset without an expiration date. It mimics a spot market but with the added ability to use leverage, and it uses a funding fee mechanism to tether its price close to the underlying spot index.
How does the funding fee work?
Funding fees are periodic payments exchanged between traders holding long and short positions. If the funding rate is positive, long positions pay shorts, and if it's negative, shorts pay longs. The rate is calculated based on the difference between the contract's mark price and the spot index price, ensuring the perpetual contract price converges with the spot price.
What leverage can I use on these new contracts?
Both the FARTCOINUSDT and AI16ZUSDT perpetual contracts offer a flexible leverage range from 0.01x up to 50x. It is critical to remember that higher leverage magnifies both potential profits and losses, so effective risk management is essential.
Are there any trading restrictions?
Trading is available 24 hours a day, 7 days a week. However, like other contracts on the platform, they are subject to standard limit order rules and periodic funding fee settlements every four hours.
Why was the funding rate cap lowered initially?
The funding rate cap was temporarily reduced to 0.03% for the first few hours after listing to protect traders from extreme volatility and potentially excessive funding fees that can occur due to price instability when a new market is launched.
Where can I trade these new contracts?
You can access FARTCOIN and AI16Z perpetual contracts on the OKX trading platform through its website, official mobile application, or via API for automated trading strategies. 👉 Access real-time trading tools