Pre-market Futures FAQ

1. What is pre-market futures?

OKX Pre-market Futures allows users to trade expiry futures on crypto that have not yet been officially launched. These pre-market futures are USDT-settled.

2. How is the delivery price for pre-market expiry futures determined?

1. If the new crypto is issued as planned and will be listed on the OKX spot market:

   1. Index price: OKX will include prices from more than 3 mainstream exchanges as part of the index components.

   2. Delivery price: OKX will deliver futures contract positions at the corresponding contract’s arithmetic average last traded price timed at 1 hour prior to the delivery. If the traded price displays abnormalities in the hour preceding the delivery, OKX may adjust the final delivery price to a reasonable level for delivery.

2. If the crypto project team cancels the crypto issuance or no issuance plan is announced within six months, or if OKX decides not to list the crypto on the spot market for other risk control reasons:

   1. Actual delivery price = Tick size.

   2. Estimated delivery price = Rolling average index price over the last hour before delivery, calculated every 200 milliseconds (Index price = Last price every 200 milliseconds).

   3. OKX reserves the right to include prices from other exchanges as part of the index components.

3. What is the delivery date for pre-market futures?

1. If the new crypto is issued as planned and will be listed on the OKX spot market, pre-market futures will settle 3 hours after the crypto is listed on the spot market. The specific delivery date will be announced separately.

2. If the crypto project team cancels the crypto issuance or OKX identifies other risk control issues with the project, the futures may be delisted early. The specific delivery date will be announced separately.

3. For API users: The expTime field in the instruments API will return the delivery date. The delivery date can be changed, so API users should monitor the expTime field through push or periodic query interfaces.

4. What are the fees for pre-market futures?

Trading fees are the same as standard futures. For more details, refer to: https://www.okx.com/fees

5. What is the settlement fee for pre-market futures?

The settlement fee is 1%. Any adjustments will be announced separately.

6. Will pre-market futures affect the subsequent listing price on OKX?

Prices in the pre-market futures are determined by market behavior and may not accurately reflect the actual listing price of the new crypto. While pre-market futures may reflect market expectations, the listing price may be influenced by other factors and does not have a direct correlation with pre-market futures prices.

7. What changes are there to the OpenAPI?

The instruments API will add a ruleType field to return trading rules. Enum values: normal represents regular trading, pre_market represents pre-market futures. For more details, refer to the API changelog: 2024-07-23 – OKX API guide | OKX technical support | OKX.