Introduction of Spot

Published on Jun 17, 2022Updated on May 23, 20245 min read

1. Spot Trading

Spot trading is the exchange of a cryptocurrency for another cryptocurrency. With the ETH/BTC pair, ETH is the base currency and BTC is the quote currency, which means BTC is needed to buy ETH. OKX spot trading currently has four subsections that allow users to trade using USDT, USDC, Stablecoins, and other Crypto as the quote currency.

2. OKX Margin Lending User Agreement

1. The maximum lending amount is decided based on factors such as leverage ratio and the user tier, with a ratio ranges from 2 to 10.

2. OKX.com will provide risk management service to Token Lending Service users' margin trading for monitoring and managing risk.

3. As a Token Lending Service user, by using the leverage tool, you agree to authorize OKX.com to perform risk management actions if your margin account is at risk ((total asset- debt )/debt≤10%), including but not limited to selling your positions.

4. User must comply with the Isolated margin and Single-currency cross margin rules.

5. User must comply with related government laws and confirm all trading funds are from legal and legitimate sources.

6. User should fully understand leverage and digital assets trading involves high risk and take into consideration their level of experience.

7. User agrees that all investments performed in OKX.com are voluntary, and accepts the consequences of their investments decisions unconditionally.

8. User agrees to pay for the related service fees of token lending and margin trading according to the requirements in the agreement with OKX.com.

9. User agrees that OKX.com reserves the right to perform risk management actions including but not limited to selling positions, forced liquidation and auto-repayment, and accepts the final outcome unconditionally.

10. OKX reserves the right to suspend and end margin trading service at any time.

3. FAQ for Savings

1. What is Savings?

Savings is our value-added product for flexible earnings. You can earn hourly interest after transferring your asset at any time. The latest interest model is more competitive as we change from daily interest to hourly compound interest and therefore improve the efficiency of asset utilization considerably. You can earn even more with increased limits if you invest large amounts.

2. What are the rules for setting interest rates?

The market will bid on the hour starting from the lowest APY according to the current demand. The highest value will be considered the current APY.

  • If Min. APY is lower than the current APY, your funds will be loaned based on the current APY.

  • If Min. APY exceeds current APY, your funds won't be loaned, and you won't get any interest.

  • If Min. APY equals current APY, your funds will be partially loaned or won't be loaned at all.

3. What is the Est. APY for the next hour?

We will arrange the queue and lending amount at a frequency per minute, and the matched APY will be the " Est. APY for the next hour ".

4. Do I need to set min. APY for every hour?

You can set min. APY hourly but there’s a chance your loan won’t be completed due to market volatility. If you don't set min. APY for the next hour, our system will use min. APY you set for the previous hour.

5. How is hourly interest calculated?

Hourly interest equals the lending amount multiplied by current hourly APY (yearly APY divided by 365 and daily divided by 24). Note that you get 85% of the interest because 15% goes to OKX insurance fund.

6. What’s the difference between redemption time and arrival time?

Redemption time is the specific moment when you submit a request to redeem your funds. On the other hand, arrival time refers to the specific moment when the funds are distributed to your Funding account after the redemption request has been processed and approved. You will receive your funds immediately.

7. Why are my total earnings blank?

Total earnings include all the interest of your subscription. Once redeeming funds, you won’t be able to view them under Total earnings. This amount can also be blank if your funds aren’t successfully loaned.

8. What are the lending rules if the interest rates are the same?

When different users set the same minimum APY, lending orders will be fulfilled on a first-come, first-served basis. For example, if users A and B set the same minimum APY for their lending orders and user A subscribes earlier than user B, user A will lend first, while user B's order may be partially fulfilled or not fulfilled at all. When a user has multiple lending orders for the same crypto, the subscription time for the last order will be the user's queuing time.