OKEx comes up with new derivatives contracts of ETC and LTC

Cryptocurrency exchange OKEx has announced the launch of the derivatives contracts for both Litecoin and Ethereum Classic.

The news was announced on OKEx’s official blog post. It follows the launch of BTC, EOS, ETH, BCH and BSV perpetual swaps. The key intricacies of newly launched perpetual swaps are as follows:

Litecoin (LTC):

• Face Value of the Contract – US$ 10
• Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest), +0. 2,0/2 %).
• Price break-up - 0.01 point
• Leverage - 1-40x
• Fees and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)

Ethereum Classic (ETC):

• Face Value of the Contract – US$ 10
• Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest), +0. 2,0/2 %)
• Price break-up - 0.001 point
• Leverage - 1-40x
• Fees and Settlement - Once every 12 hours at 3 am and 3 pm (CET, UTC+1)

Perpetual Swap, originally introduced by BitMEX, is a derivative product that is similar to traditional future contracts but without any delivery date or expiry.