OKX Announces Upcoming Adjustments to Minimum Order Quantities for Futures Contracts
As a leading cryptocurrency exchange, OKX has recently revealed plans to implement changes to the minimum order quantities for several perpetual and expiry futures contracts. This update, set to be rolled out between 6:00 am and 8:00 am UTC on June 6, 2024, aims to enhance the trading experience for users on their platform. In addition to adjustments in minimum order quantities, corresponding modifications to step size will also be introduced.
What to Expect from the Adjustments
The upcoming changes will impact a variety of trading pairs, including FET/USDT, SOL/USDT, STX/USDT, and THETA/USDT. The table below illustrates the adjustments that will be made:
| Instrument | Trading Pair | Min Order Qty (contracts) (Before) | Min Order Qty (coins) (Before) | Min Order Qty (contracts) (After) | Min Order Qty (coins) (After) |
|---|---|---|---|---|---|
| Perpetual | FET/USDT | 1 | 10 | 0.1 | 1 |
| Perpetual | SOL/USDT | 0.1 | 0.1 | 0.01 | 0.01 |
| Perpetual | STX/USDT | 1 | 10 | 0.1 | 1 |
| Perpetual | THETA/USDT | 1 | 10 | 0.1 | 1 |
Understanding Step Size and Minimum Order Quantity
Step size and minimum order quantity play crucial roles in the trading of perpetual and expiry futures contracts. Step size refers to the smallest increment or decrement in the number of contracts placed, while minimum order quantity represents the smallest permissible number of contracts for an order. These parameters ensure efficient and accurate trading execution on the platform.
Enhancements in Display and Order Processing Rules
With the upcoming adjustments, traders can expect to see more detailed and accurate information displayed for open positions and orders. The platform will now showcase position contract sizes and order quantities in decimals when the step size is less than 1. Additionally, order processing rules will require traders to place orders that are integral multiples of the step size and meet the minimum order quantity criteria.
API Interface Updates for Seamless Trading
API users will notice improvements in the API endpoint and WebSocket channel, reflecting the updated values for step size and minimum order quantity post-adjustment. These changes are designed to enhance the overall trading efficiency for all users, including API users, bot traders, and copy traders.
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