Update on TRON (TRX) Perpetual Swap Price Limit Rules
Dear valued customers,
We will update the TRON (TRX) perpetual swap price limit rules from 13:00 Jan 27, 2019 (CET, UTC+1) due to the recent volatility of the spot index and the contract price. Details are as follows:
BEFORE UPDATE:
First 10 minutes of all newly listed contracts:
Upper Limit = Spot Index Price x (1 + 0.5%)
Lower Limit = Spot Index price x (1 - 0.5%)
After 10 minutes:
Upper Limit = Average Basis within last 10min + Spot Index Price x (1 + 2%)
Lower Limit = Average Basis within last 10min + Spot Index Price x (1 - 2%)
Basis = Contract Price - Spot Price
If the price limit deviates from the Spot Index Price by 3% or is below 0:
Upper Limit = Spot Index Price x (1 + 3%)
Lower Limit = Spot Index Price x (1 - 3%)
Open long or close short position:
An order would be blocked if the order price sent is higher than the price limit.
Open short or close long position:
An order would be blocked if the order price sent is lower than the price limit.
AFTER UPDATE:
First 10 minutes of all newly listed contracts:
Upper Limit = Spot Index Price x (1 + 0.5%)
Lower Limit = Spot Index price x (1 - 0.5%)
After 10 minutes:
Upper Limit = Average Basis within last 10min + Spot Index Price x (1 + 2%)
Lower Limit = Average Basis within last 10min + Spot Index Price x (1 - 2%)
Basis = Contract Price - Spot Price
If the price limit deviates from the Spot Index Price by 3.5% or is below 0:
Upper Limit = Spot Index Price x (1 + 3.5%)
Lower Limit = Spot Index Price x (1 - 3.5%)
Open long or close short position:
An order would be blocked if the order price sent is higher than the price limit.
Open short or close long position:
An order would be blocked if the order price sent is lower than the price limit.
Also, we will gradually increase the maximum and minimum price deviation limit to 5% starting Jan 27, 2019:
Time (CET, UTC+1) Max / Min price deviation limit (%)
2019.1.27 13:00 3.0%
2019.1.27 14:00 3.5%
2019.1.27 15:00 4.0%
2019.1.27 16:00 4.5%
2019.1.27 17:00 5.0%
As the TRX BTT airdrop is approaching, it may cause volatility to the TRX spot and derivatives markets. We may adjust the funding rates and price limits to ensure market stability. Please stay tuned for further updates.
Thank you for your continued support and we assure you the best of our services at all times.
Regards,
OKX
Jan 27, 2019