OKEx announces real-time settlements for its products

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  • OKEx decided to introduce a new feature before the year ends — real-time settlements for its products.
  • The feature will be available for perpetual swaps, futures, and options, starting with the ADAUSD pair.
  • Other pairs will be supported as well although it might take several months for OKEx to roll out full support.

Cryptocurrencies remain as volatile as ever — even more now, at the time of massive rallies and strong corrections. This is why timing is crucial for traders to be efficient and make money, whether they work with derivatives or coins themselves. To help them make the most of the situation, OKEx spot and derivatives exchange announced the soon launch of real-time settlements.

OKEx to bring real-time settlements to its platform

According to the platform’s recent press release, the real-time settlements will be available for all futures, options contracts, as well as perpetual swaps. OKEx expects that the new feature will offer a much better trading experience for its users, and improve the capital efficiency of their funds.

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On top of that, it will also enable greater cross-exchange arbitrage opportunities.

The exchange announced that real-time settlements will officially begin on Tuesday, December 29th, at 8 am UTC, with the popular ADAUSD perpetual contract.

While the function will start with Cardano (ADA), it will spread to other major crypto pairs, as well as additional financial instruments that the platform has to offer. However, traders might have to wait for a few more months to see full support on the platform.

Details about the new feature

The real-time settlements will have a major impact on the fund utilization, allowing the users to withdraw profits at any time, instead of having to wait for 4 pm settlements. Their fund utilization will improve immensely as a result.

OKEx’s head of financial markets, Lennix Lai, stated that “This is hugely beneficial to traders carrying out cross-exchange arbitrage, as they need to settle their profit in real-time across exchanges. It will also enhance capital management across the OKEx platform.

Once the settlements begin, anyone holding an ADAUSD perpetual contract will receive the average open price of the position change to the last settlement of the contract. Any profit or loss that traders achieve will be transferred to their perpetual account balance for this pair.

From there, the profit will be recalculated in accordance with the new opening average price from 8 am on that same day. The feature will be available on the exchange’s mobile app, web version, and API alike.

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