OKEx Announces Perpetual Swap Fee Adjustments

Please share and grow the BitPinas community.

October 29, 2019 – Top cryptocurrency exchange OKEx has announced Perpetual Swap Fee Adjustments, offering a lower-fee trading experience to users starting on 16:00 Nov. 4. 2019.

Perpetual Fee Adjustments

OKEx has announced Perpetual Fee Adjustment wherein normal users could see their transaction fees down by up to 30%. Users who hold 2,000 $OKB and above could enjoy the lowest transaction fees that have ever been seen in the whole crypto space. Enjoy the low-fee trading experience only on OKEx.

Check out the details for the perpetual fee adjustment here:

Normal Users
TierTotal OKB HoldingPerpetual Swap
30-Day Trading Volume (BTC)Maker FeeTaker Fee
Lv1< 500< 5,0000.020%0.050%
Lv2≥ 500< 5,0000.018%0.045%
Lv3≥ 1,000< 5,0000.017%0.040%
Lv4≥ 1,500< 5,0000.016%0.035%
Lv5≥ 2,000< 5,0000.015%0.030%
VIP Users
TierPerpetual Swap
30-Day Trading Volume (BTC)Maker FeeTaker Fee
VIP1≥ 5,0000.010%0.030%
VIP2≥ 10,0000.005%0.030%
VIP3≥ 20,0000.000%0.030%
VIP4≥ 60,000-0.005%0.030%
VIP5≥ 100,000-0.008%0.030%
VIP6≥ 150,000-0.010%0.030%
VIP7≥ 200,000-0.015%0.030%

The OKEx Perpetual Swap is a derivatives product of Futures Trading. While similar to Fixed-Date Futures Contracts, Perpetual Swap is different because it doesn’t have a delivery date, doesn’t expire, and there is a funding mechanism used so that the Perpetual Swap Price is anchored to the spot market. A no-contract expiry saves the trader time from rolling over contracts regularly. Fund flexibility allows profits and losses to be realized and settled twice a day, which in turn frees the trader into allocating funds into other uses. Finally, the provision of up to 100x leverage allows for multiplied gain potentially but of course, higher risks are involved.

As a timeless contract, OKEx took into account maintaining market fairness and minimizing the risk of societal lost by implementing the following features in perpetual swaps: minimalization of its impact to short-term volatility, elimination of risks of cascade liquidation and clawback, and maintenance of reasonable price divergence between Spot and Perpetual Swap markets.

Users who wish to trade Perpetual swap must first transfer their digital assets to “Swap Account” and then go to Futures > Swap on the OKEx main page.

OKEx VIP

The crypto exchange has also announced upgraded privileges for OKEx VIP Club members. Users can enjoy exclusive VIP privileges according to their trading volume or total assets on OKEx.

OKEx VIP Club Requirements:

VIP TierTransaction Fee Tier OKEx Total Assets
PlatinumVIP 1or50 BTC
DiamondVIP 4300 BTC

OKEx VIP Club Transaction Fee Tier Requirements

VIP TierTransaction Fee Tier30-day Trading Volume (BTC)
SpotFuturesPerpetual Swap
PlatinumVIP 1≥ 1,000or≥ 10,000or≥ 5,000
VIP 2≥ 5,000≥ 20,000≥ 10,000
VIP 3≥ 10,000≥ 30,000≥ 20,000
DiamondVIP 4≥ 20,000≥ 60,000≥ 60,000
VIP 5≥ 50,000≥ 100,000≥ 100,000
VIP 6≥ 100,000≥ 200,000≥ 150,000
VIP 7≥ 150,000≥ 300,000≥ 200,000

OKEx VIP Club Exclusive Privileges

PrivilegePlatinumDiamond
TradingSpecial Transaction Fee Rate
Exclusive Express Depositing Channel
Exclusive Withdrawal Limit IncrementDouble4 Times
Exclusive C2C Channel
OKEx Historical DataOn Demand
Exclusive Colocation ServiceOn Demand
Exclusive New Product Testing
Exclusive VIP account manager and hotline
OKEx EcosystemOKEx Global Partner
Meetup with OKEx Management
OKEx Annual Party
OKEx VIP Private Club
OKEx Market Conference
OKEx Black Card
Add-onsExclusive VIP Group
Exclusive Industry Research
Exclusive Content Collaboration
Holiday Offers
Birthday Gifts
Special Privileges

Trading Privileges

Special transaction fee rate

A special transaction fee rate is applicable to newly registered users as they can apply for a higher transaction fee trial to help them get started with OKEx. VIPs with 50 BTC or above can apply for exclusive transaction fee rebate. Lastly, VIPs that are VIP 1 pr above can apply for higher transaction fee or market maker fee tiers.

Exclusive Express Depositing Channel

Large deposits can avail of express depositing channel for instant fund arrival.

Exclusive Withdrawal Limit Increment

Exclusive withdrawal limits will help users stay on top of the market without missing out on any investment opportunities.

Exclusive C2C Channels

OKEx offers exclusive customer-to-customer channels for express trading.

OKEx Historical Data

Available via request, users will be able to make relevant adjustments to their trading strategies.

Exclusive Colocation Service

Colocation (server custody) customizable service doubles up the user’s rest limit.

Exclusive New Product Testing

Users can apply to be part of OKEx’s testing group to experience new products, such as USDT-margined contracts, etc.

Exclusive VIP Account Manager and Hotline

Each VIP is assigned an account manager offering 24/7 one-to-one support for their trading needs.

OKEx Ecosystem Privileges

Participating in the OKEx ecosystem comes with a lot of privileges. As an OKEx Global Partner, the user can participate in building the community while obtaining customized rebate benefits and ecosystem rights. OKEx Diamond VIPs can get the chance to meet the OKEx senior management and exchange ideas and suggestion with the team. VIPs are also invited to the OKEx Annual Party and VIP Private ClubSharing Sessions will let members discuss market trends and insights experts and industry leaders. Finally, with the OKEx Black Card, VIPs can enjoy discounted rates or complimentary services at partner high-end hotels, restaurants, and bars.

Add-on Privileges are the following:

  • Exclusive VIP Group
  • Exclusive Industry Research
  • Exclusive Content Collaboration
  • Holiday Offers
  • Birthday Gifts

OKEx will screen candidates based on quarterly data to qualify. Candidates will notify users that will fulfill the requirements via email or SMS. The calculation period for this cycle is between Oct 1 – Oct 31, 2019, and will be effective from Nov 1, 2019, applicable to all OKEx users.

Risk Warning: Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

About OKEx:

OKEx is a leading Malta-based digital asset exchange that offers digital trading services including spot trading, futures trading, and perpetual swap trading, among others. There are over 400 tokens available for trading on the platform.


This article is published on BitPinas: OKEx Announces Perpetual Swap Fee Adjustments


Please share and grow the BitPinas community.

Join and subscribe to stay up to date
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
shares