Crypto Exchange OKEx Launches Litecoin And Ethereum Classic Perpetual Swaps

Announcements, News | January 3, 2019 By:

Malta-based cryptocurrency exchange OKEx has launched derivatives contracts for Litecoin (LTC) and Ethereum Classic (ETC).

In a blog post, the exchange said that the perpetual swaps of the newly added cryptocurrencies started trading on its platform on January 2.

The OKEx Perpetual Swap, which was launched last month, is a virtual derivative product that is settled in digital tokens. The product allows clients to take a long or short position against the price of tokens with no expiry date. The swaps use the following funding formula: funding=position value*funding rate.

Each contract value on OKEx is $10 and they support 1-40x leverage. ETC has a minimum price interval of 0.001 point, while LTC has minimum price interval of 0.01 point. The settlement and funding fee of both coins occur once in every 12 hours daily at 3am and 3pm.