We are excited to announce the official launch of OL trading services, including margin trading, perpetual contracts, and savings products. These features are now accessible on our web platform, mobile app, and via API integration.
This rollout is part of our ongoing effort to expand the range of sophisticated financial tools available to our users, enabling more diverse trading and earning strategies within the cryptocurrency ecosystem.
Key Launch Timeline
To ensure a smooth rollout, the various OL services will be launched in two phases on the same day. All times are in UTC+8.
- Phase 1: Perpetual Contracts – The OLUSDT perpetual swap went live on November 22, 2024, at 5:00 PM.
- Phase 2: Margin & Savings – OL margin trading and savings products became available on November 22, 2024, at 7:00 PM.
A Detailed Look at OL Margin Trading and Savings
The introduction of OL for borrowing and earning provides users with new avenues to grow their assets.
1. Margin Trading
OL margin trading is available in the OL/USDT trading pair. This allows you to borrow funds to amplify your trading positions, potentially increasing both gains and losses.
- Available Pair: OL/USDT
- Leverage Tiers: The specific leverage tiers and their corresponding requirements, such as initial margin and maintenance margin, are designed to manage risk effectively. 👉 Check the latest margin tier details
We recommend reviewing the full schedule of tiered maintenance margin rules on our platform after launch to understand the exact requirements for your desired position size.
2. Simple Earn (Savings)
Our Simple Earn product offers a straightforward way to put your idle OL assets to work and generate passive income.
- Supported Asset: OL
- Product Details: The specific subscription limits, annual percentage yield (APY), and redemption terms for OL savings can be found directly within the Simple Earn section of our platform post-launch.
Understanding the OLUSDT Perpetual Contract
For traders interested in derivatives, the OLUSDT perpetual contract is now available. Below is a comprehensive breakdown of its key specifications.
| Contract Element | Details |
|---|---|
| Underlying Asset | OL/USDT Index |
| Settlement Currency | USDT |
| Contract Face Value | 10 |
| Price Quotation | Price of 1 OL in USDT |
| Minimum Price Movement (Tick Size) | 0.000001 |
| Leverage | 0.01x to 50x |
| Funding Fee | Calculated based on the difference between the contract's mid-price and the spot index price. The rate is clamped between -1.5% and 1.5%. |
| Trading Hours | 24/7 |
Important Note on Initial Funding Rates
For newly listed contracts like OLUSDT, the premium can be highly volatile during the initial hours. To prevent unreasonable funding rate charges immediately after launch, a special measure was implemented:
- Before November 22, 2024, 00:00 (UTC+8): The maximum funding rate cap was temporarily set at 0.03%.
- After November 22, 2024, 00:00 (UTC+8): The funding rate cap returned to the standard maximum of 1.50%.
The first funding fee exchange using the new standard cap occurred at 08:00 (UTC+8) on November 22, 2024.
All other trading rules for the OLUSDT perpetual contract, including order types (limit, market, etc.), align with our standard USDT-margined perpetual swaps.
Frequently Asked Questions
Q: What is the difference between margin trading and perpetual contracts?
A: Margin trading involves borrowing assets to trade on the spot market with increased buying power. Perpetual contracts are derivative products that track an asset's price without an expiry date, using funding fees to tether them to the spot price.
Q: How is the funding fee for the perpetual contract calculated?
A: The funding fee is periodically paid between long and short traders to keep the contract trading price aligned with the underlying spot index. It is based on the interest rate and the premium/discount of the contract to the spot price.
Q: Are there any risks associated with using leverage?
A: Yes, leverage magnifies both profits and losses. While it can amplify gains in successful trades, it can also lead to significant losses, including the potential loss of your entire initial margin, if the market moves against your position. Always employ effective risk management.
Q: Can I subscribe to OL Savings at any time?
A: While the product is available continuously, subscription limits and available APY can fluctuate based on market demand and supply. It's best to check the Simple Earn section for the most current availability and rates.
Q: Where can I learn more about the general rules for these products?
A: Our help center provides comprehensive guides and user agreements for all our products. 👉 Explore detailed product guides and rules
Q: Is there a minimum amount required to start margin trading or using perpetual contracts?
A: Yes, minimum order quantities and margin requirements apply. These are specified within the trading interface for each product and help ensure orderly market function.
We are committed to continuously enhancing our platform with robust and innovative products to serve the evolving needs of our global user base. Happy trading