The cryptocurrency landscape continues to evolve, bringing new opportunities for traders and investors to diversify their portfolios and explore innovative financial instruments. OKX, a leading digital asset exchange, has officially launched ULTI-related trading products, expanding access to advanced trading options for its global user base. As of June 7, 2024, ULTI/USDT leverage trading, perpetual contracts, and Simple Earn services are now available across the OKX web platform, mobile app, and API.
This strategic rollout empowers users with greater flexibility in managing risk, capitalizing on market movements, and earning passive income — all within a secure and compliant trading environment. Whether you're an experienced trader or exploring crypto derivatives for the first time, understanding these new offerings can enhance your trading strategy and financial potential.
Leverage Trading and Simple Earn: Flexible Access to ULTI
Starting at 3:00 PM (UTC+8) on June 7, 2024, OKX introduced ULTI/USDT leverage trading, enabling users to borrow funds to increase their trading position size. This feature allows traders to amplify potential returns — while also increasing exposure to risk — based on market predictions.
Key features of the newly launched leverage trading include:
- Dual-sided trading: Users can go long or short on ULTI/USDT, taking advantage of both rising and falling markets.
- Tiered borrowing system: Leverage limits and borrowing capacity are structured in gradient tiers based on account level, risk profile, and collateral balance. Detailed information is available under Leverage Borrowing Position Tier Guidelines post-launch.
- Dynamic interest rates: Interest is calculated per second and only applies when borrowed assets are in use.
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In parallel, OKX has launched the Simple Earn program for ULTI, allowing users to earn competitive yields by staking their idle ULTI holdings. This service transforms dormant assets into income-generating resources without requiring active trading.
Users can expect:
- Flexible and fixed-term options
- High liquidity with early redemption availability (subject to terms)
- Transparent APR displays and real-time earnings tracking
For exact allocation limits and reward rates, refer to the updated OKX Simple Earn Business Rules following the launch.
ULTIUSDT Perpetual Contract: Trade with Precision and Control
At 3:30 PM (UTC+8) on June 7, 2024, OKX officially listed the ULTIUSDT perpetual contract, providing traders with a powerful tool for speculative and hedging strategies in the derivatives market.
Perpetual contracts are a type of futures contract without an expiration date, allowing traders to hold positions indefinitely as long as margin requirements are met. The ULTIUSDT contract is settled in USDT, making it stablecoin-denominated and easier to value in fiat-equivalent terms.
Contract Specifications
- Underlying Index: ULTI/USDT
- Settlement Currency: USDT
- Contract Size: 100 ULTI per contract
- Price Quotation: Based on the USDT price of 1 ULTI
- Minimum Price Increment (Tick Size): 0.00001 USDT
- Leverage Range: Adjustable from 0.01x up to 50x
- Trading Hours: 24/7, including weekends and holidays
One of the most critical aspects of perpetual contracts is the funding rate mechanism, which helps align the contract price with the underlying spot index. For ULTIUSDT, the funding fee is calculated using the following formula:
Clamp(MA[[(Bid + Ask)/2 – Spot Index] / Spot Index – Interest], -0.75%, 0.75%)
Where:
- Interest = 0
- Funding fees are exchanged between longs and shorts every 8 hours
- Fees are paid "in-period" — meaning they are settled at the time of calculation
To ensure stability during initial trading phases, OKX implemented a temporary cap:
- Before June 8, 2024, 00:00 (UTC+8): Funding rate calculation capped at 0.03%
- After June 8, 2024, 00:00 (UTC+8): Cap returns to standard maximum of 1.50%
- First actual collection occurs at 8:00 AM (UTC+8) on June 8
This precautionary measure minimizes volatility risks during the early stages of market formation.
All other trading rules — including liquidation mechanisms, insurance funds, and fee structures — follow standard USDT-margined perpetual contract protocols. For full details, users are encouraged to review the official OKX Perpetual Contracts User Agreement.
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Frequently Asked Questions (FAQ)
Q: What time did ULTI leverage trading go live?
A: ULTI/USDT leverage trading launched at 3:00 PM (UTC+8) on June 7, 2024.
Q: Can I trade ULTI perpetual contracts on the mobile app?
A: Yes, the ULTIUSDT perpetual contract is fully supported on both the OKX web platform and mobile application.
Q: Is there a maximum position size for ULTI leverage trading?
A: Position limits depend on your user tier and available margin. Refer to the leverage tier guidelines in your account dashboard for specifics.
Q: How often are funding fees charged for the ULTIUSDT contract?
A: Funding fees are assessed every 8 hours. If you hold a position at 00:00, 08:00, or 16:00 (UTC+8), you’ll either pay or receive the funding rate depending on market conditions.
Q: Can I earn yield on my ULTI holdings?
A: Yes. Through the Simple Earn program, users can deposit ULTI to earn passive income via flexible or fixed-term staking options.
Q: Are there any special risks with 50x leverage?
A: Higher leverage increases both profit potential and liquidation risk. It’s recommended to use risk management tools like stop-loss orders and position sizing strategies when using high leverage.
Why These Launches Matter for Traders
The introduction of ULTI-based financial products reflects growing demand for diversified crypto-native instruments. By offering multiple entry points — from spot-margin trading to derivatives and yield generation — OKX supports a comprehensive ecosystem where users can execute complex strategies seamlessly.
These tools cater to various user profiles:
- Day traders benefit from tight spreads and high leverage
- Swing traders use perpetuals to capture medium-term trends
- Long-term holders generate yield through Simple Earn without selling their assets
Moreover, USDT-denominated contracts reduce settlement complexity and provide clearer profit/loss visibility compared to coin-margined alternatives.
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Final Thoughts
With the successful launch of ULTI/USDT leverage trading, perpetual contracts, and Simple Earn services, OKX reinforces its commitment to innovation and user empowerment in the digital asset space. These tools not only enhance market liquidity but also provide practical solutions for risk management, speculation, and wealth accumulation.
As always, traders should conduct thorough research and practice sound risk management when engaging with leveraged or derivative products. Market conditions can change rapidly, especially during new product rollouts.
Stay informed, stay strategic, and make the most of what this next generation of crypto finance has to offer.
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