OKX Lists WAL, NIL, and PLUME Perpetual Futures Contracts

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We are excited to announce that OKX will list USDT-margined perpetual futures contracts for WAL, NIL, and PLUME. Trading for these new instruments will commence on May 8, 2025, between 7:00 am and 7:30 am UTC.

These additions will be accessible across all platforms, including the OKX web interface, mobile application, and API, providing traders with flexible options to engage with these new markets.

Detailed Listing Schedule

The launch will be staggered to ensure a smooth rollout for each new trading pair. The specific start times are as follows:

Overview of New Perpetual Futures

Perpetual futures are a popular derivative product that allows traders to speculate on the future price of an asset without an expiry date. These new contracts are margined and settled in USDT, offering a stable valuation base.

WAL Perpetual Futures

Walrus (WAL) is the native token of a decentralized data storage network designed for storing rich media content, including large text files, videos, images, and audio.

NIL Perpetual Futures

Nillion (NIL) powers a permissionless network focused on securing decentralized data storage and computation, particularly for AI and blockchain applications.

PLUME Perpetual Futures

Plume (PLUME) is the native token of an EVM-compatible blockchain specifically optimized for the integration and adoption of real-world assets (RWA) into the digital economy.

Important Trading Considerations

For all three contracts, the standard price limit rules apply, consistent with other perpetual futures listed on the platform. Traders should familiarize themselves with these mechanisms to manage risk effectively.

A special funding rate cap will be in effect initially to protect users from extreme volatility typical of new listings. Until 4:00 pm UTC on May 8, 2025, the maximum funding rate will be capped at 0.5%. After this time, the cap will revert to the standard maximum of 1.5%. The first funding fee under the new cap will be settled at 8:00 pm UTC on the same day.

It is important to note that the platform reserves the right to adjust these limits based on prevailing market conditions to ensure fairness and stability. For a comprehensive understanding of how funding rates are calculated, you can review the detailed product documentation.

Frequently Asked Questions

What are perpetual futures contracts?
Perpetual futures are derivative contracts that allow you to speculate on an asset's price direction without an expiration date. They use a funding fee mechanism to tether the contract price to the spot market index.

How does leverage work with these new contracts?
Leverage allows you to open a larger position with a smaller amount of capital. For example, WAL and PLUME offer up to 20x leverage, while NIL offers up to 50x. It amplifies both gains and losses, so it must be used cautiously.

Why is there a temporary funding rate cap?
A temporary cap is implemented for new listings to prevent excessively high funding fees caused by initial price volatility and premium fluctuations, protecting traders during the initial market discovery phase.

Where can I trade these new perpetual futures?
These USDT-margined contracts are available for trading on the OKX platform. You can access them via the website, the official mobile app, or through the API for automated trading strategies. 👉 Explore advanced trading strategies

What are the risks involved in trading perpetual futures?
Key risks include high volatility, liquidation if your margin balance becomes insufficient, and funding costs. It is crucial to use risk management tools like stop-loss orders and never invest more than you can afford to lose.

How often are funding fees paid?
Funding fees for these contracts are exchanged between long and short position holders every four hours. The rate can be positive or negative, depending on market conditions.