Understanding the Latest Changes to OKX Futures Contracts
OKX, a renowned cryptocurrency exchange, is set to implement adjustments to the minimum order quantities for various perpetual and expiry futures contracts. These modifications are designed to enhance the trading experience for users and will come into effect on June 6, 2024. Here’s everything you need to know about these upcoming changes.
Details of the Adjustments
- Perpetual contracts for FET/USDT: Before – 1 contract, After – 0.1 contract
- Perpetual contracts for SOL/USDT: Before – 0.1 contract, After – 0.01 contract
- Perpetual contracts for STX/USDT: Before – 1 contract, After – 0.1 contract
- Perpetual contracts for THETA/USDT: Before – 1 contract, After – 0.1 contract
Understanding Step Size and Minimum Order Quantity
Step size and minimum order quantity are crucial concepts to grasp when trading futures contracts:
- Step size: It denotes the smallest increment or decrement in the number of contracts ordered.
- Minimum order quantity: It represents the smallest permissible number of contracts for an order.
Changes in Display Rules
With the updated step size, positions and orders will be displayed differently:
- If the step size is less than 1, sizes will be shown in decimals.
Considerations for Order Processing
Traders must adhere to specific rules when placing or modifying orders:
- The quantity must be an integral multiple of the step size.
- The quantity must be at least equal to the minimum order quantity.
Adjustments in API Interface
Following the changes, the API endpoint and WebSocket channel will reflect the updated values for step size and minimum order quantity. It is essential for all traders, including API users, to understand these adjustments for a seamless trading experience.
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