OKX to Enable Margin Trading & Savings and List Perpetual for BICO

Published on Dec 9, 2021Updated on Apr 12, 20242 min read

We are pleased to announce that BICO margin trading and savings will be enabled at 7:00 am UTC on Dec. 9. USDT-margined perpetual swaps for BICO will be listed at the same time.

The updates will cover both the web and app interfaces as well as API. The details are as follows:

Margin Trading and Savings

1. Spot margin trading will be activated for following pairs: BICO/USDT

2. For the details of the tiered margin ratio, please refer to Margin Borrowing Position Tiers after the official listing.

3. For the limits of Savings, please refer to the Business Rules for Savings after the official listing.

Perpetual Swap Trading

BICOUSDT Perpetual Swap:

Feature

Details

Underlying

BICO/USDT Index

Settlement asset

USDT

Face value

1 BICO

Price quotation

1 BICO value calculated in USDT equivalent

Tick size

0.0001

Leverage

0.01-75 x

Funding rate

Clamp(MA(((best bid + best offer) / 2 - spot index price)/spot index price - interest), -0.75%, 0.75%), interest = 0

Trading hours

24/7

Note: When the new contract is launched, the premium is unstable. To avoid unreasonable charges, the upper limit of the funding rate before 16:00 pm UTC on Dec. 9 is 0.03%. After 16:00 pm UTC, the upper limit of the predicted funding rate will be adjusted back to the normal 0.75% (the funding fee of this period will be charged at 8:00 am UTC on Dec. 10).

The price limit rules of BICO USDT-margined perpetual swap trading are the same as those of other currencies. Please refer to our perpetual swap trading guides for further details.

USDT-margined perpetual swap trading: OKX USDT Margined Perpetual Swap Trading User Agreement & Guide

Regards,
OKX
Dec. 9, 2021 (UTC)

Click Here to Download OKX App >>>

Click Here for OKX Twitter >>>

Click Here to Join OKX Official Community >>>