OKEx to Launch Real-Time Settlement

  • OKEx has announced the launch of perpetual swaps.
  • The new feature, first available for the ADA/USD market, is set to provide a better trading experience.

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The exchange announced the launch of real-time settlement for all perpetual swaps, futures, and options contracts on their platform.

According to the company’s press release, real-time settlements will officially begin at 08:00 am UTC on 29 December on the ADAUSD perpetual contract. The function will allow users to withdraw profits at any time, without having to wait for the 4:00 pm UTC settlement period every day. Real-time settlements will roll out to other major cryptocurrency pairs on OKEx in the following months, the company said in the release.

The new feature was specifically designed to provide a better trading experience for users. Aside from improving the capital efficiency of their funds, users can also access greater cross-exchange arbitrage opportunities. Lennix Lai, the head of financial markets at OKEx, said the company believes real-time settlements will be extremely popular among users.

“By being able to withdraw their realized profit instantly and not having to wait for the settlement period, users can engage in more efficient strategies to maximize their capital,” Lai added.

The ADAUSD market will act as a trial, allowing the company to launch other major tokens at the beginning of January. Users holding ADAUSD perpetual contracts will now see the average open price of the position change to the base price of the contract’s last settlement. All realized profit and loss will be transferred to the ADAUSD perpetual account balance, with the profit recalculated according to the new opening average price recorded at 8:00 am UTC that day.

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