OKEx Announces Perpetual Swap Fee Adjustments
Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
📬 Get the biggest crypto stories in the Philippines and Southeast Asia every week — subscribe to the BitPinas Newsletter.
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 | ||||
| Tier | Total OKB Holding | Perpetual Swap | ||
| 30-Day Trading Volume (BTC) | Maker Fee | Taker Fee | ||
| Lv1 | < 500 | < 5,000 | 0.020% | 0.050% |
| Lv2 | ≥ 500 | < 5,000 | 0.018% | 0.045% |
| Lv3 | ≥ 1,000 | < 5,000 | 0.017% | 0.040% |
| Lv4 | ≥ 1,500 | < 5,000 | 0.016% | 0.035% |
| Lv5 | ≥ 2,000 | < 5,000 | 0.015% | 0.030% |
| VIP Users | |||
| Tier | Perpetual Swap | ||
| 30-Day Trading Volume (BTC) | Maker Fee | Taker Fee | |
| VIP1 | ≥ 5,000 | 0.010% | 0.030% |
| VIP2 | ≥ 10,000 | 0.005% | 0.030% |
| VIP3 | ≥ 20,000 | 0.000% | 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 Tier | Transaction Fee Tier | OKEx Total Assets | |
| Platinum | VIP 1 | or | 50 BTC |
| Diamond | VIP 4 | 300 BTC |
OKEx VIP Club Transaction Fee Tier Requirements
| VIP Tier | Transaction Fee Tier | 30-day Trading Volume (BTC) | ||||
| Spot | Futures | Perpetual Swap | ||||
| Platinum | VIP 1 | ≥ 1,000 | or | ≥ 10,000 | or | ≥ 5,000 |
| VIP 2 | ≥ 5,000 | ≥ 20,000 | ≥ 10,000 | |||
| VIP 3 | ≥ 10,000 | ≥ 30,000 | ≥ 20,000 | |||
| Diamond | VIP 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
| Privilege | Platinum | Diamond | |
| Trading | Special Transaction Fee Rate | √ | √ |
| Exclusive Express Depositing Channel | √ | ||
| Exclusive Withdrawal Limit Increment | Double | 4 Times | |
| Exclusive C2C Channel | √ | √ | |
| OKEx Historical Data | On Demand | ||
| Exclusive Colocation Service | On Demand | ||
| Exclusive New Product Testing | √ | √ | |
| Exclusive VIP account manager and hotline | √ | √ | |
| OKEx Ecosystem | OKEx Global Partner | √ | √ |
| Meetup with OKEx Management | √ | ||
| OKEx Annual Party | √ | ||
| OKEx VIP Private Club | √ | √ | |
| OKEx Market Conference | √ | √ | |
| OKEx Black Card | √ | √ | |
| Add-ons | Exclusive 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 Club. Sharing 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.
Follow OKEx on:
Twitter: https://twitter.com/OKEx
Facebook: https://www.facebook.com/okexofficial/
LinkedIn: https://www.linkedin.com/company/okex/
Telegram: https://t.me/okexofficial_en
Instagram: https://www.instagram.com/okex_events
Steemit: https://steemit.com/@okex-official
Website: https://www.okex.com
This article is published on BitPinas: OKEx Announces Perpetual Swap Fee Adjustments
