In a strategic move aimed at enhancing market liquidity and strengthening risk management protocols, OKX has implemented key adjustments to the trading parameters of LUNA/USDT, LUNA/UST spot pairs, and the LUNAUSDT and ANCUSDT perpetual contracts. These changes, effective from May 12, 2022, at 12:00 HKT, reflect the exchange’s proactive approach to maintaining platform stability amid volatile market conditions.
This comprehensive update covers multiple aspects of trading mechanics, including price precision, margin tiers, index composition, funding rates, price limits, and order rules—all designed to support smoother trading operations and improved user experience.
👉 Discover how OKX’s advanced trading tools can help you navigate volatile markets with confidence.
Price Precision Enhancements
To allow for more granular price setting and tighter spreads, OKX has increased the price precision for both spot and futures markets:
- LUNA/USDT (Spot): From 0.001 to 0.0001
- LUNA/UST (Spot): From 0.001 to 0.0001
- LUNAUSDT (Perpetual): From 0.001 to 0.0001
These adjustments enable traders to place orders with greater accuracy, particularly beneficial during periods of high volatility.
Important Notes on Existing Orders:
- Open orders placed before the change remain valid.
- The display price will be rounded to the new precision level.
- However, order matching continues using the original precision.
- This rule applies uniformly across both web and API trading interfaces.
This transitional approach ensures continuity in the order book while seamlessly integrating updated precision standards.
Gradient Margin Tier Adjustments
OKX has revised the gradient margin tiers for LUNAUSDT and ANCUSDT perpetual contracts to better align with current market dynamics and position sizes.
LUNAUSDT Margin Tiers
| Tier | Min Contracts | Max Contracts | Maintenance Margin Rate | Initial Margin Rate | Max Leverage |
|---|---|---|---|---|---|
| 1 | 0 | 150,000 | 1.00% | 1.30% | 75x |
| 2 | 150,001 | 300,000 | 1.50% | 2.00% | 50x |
| 3 | 300,001 | 600,000 | 2.00% | 5.00% | 20x |
| 4 | 600,001 | 1,200,000 | 2.50% | 5.50% | 18.18x |
| 5+ | Increases by 600,000 per tier | +0.5% per tier | +0.5% per tier | Decreases accordingly |
ANCUSDT Margin Tiers
| Tier | Min Contracts | Max Contracts | Maintenance Margin Rate | Initial Margin Rate | Max Leverage |
|---|---|---|---|---|---|
| 1 | 0 | 8,000 | 1.00% | 1.30% | 75x |
| 2 | 8,001 | 20,000 | 1.50% | 2.00% | 50x |
| 3 | 20,001 | 80,000 | 2.00% | 5.00% | 20x |
| 4 | 80,001 | 160,000 | 2.50% | 5.50% | 18.18x |
| 5+ | Increases by 80,000 per tier | +0.5% per tier | +0.5% per tier | Decreases accordingly |
These tiered adjustments help maintain adequate collateralization as position size increases, reducing liquidation risks and promoting responsible leverage usage.
Index Composition Updates
To improve price accuracy and reduce dependency on any single exchange, OKX has diversified the index sources for ANC/USD and ANC/USDT indices by adding Binance as a new component.
ANC Index Rebalancing
- Before: Equal weighting (33.3%) among Gate.io, KuCoin, and OKX
- After: Four exchanges with equal 25% weightings — Gate.io, KuCoin, OKX, and Binance
This expansion enhances data robustness and minimizes manipulation risks by incorporating a broader set of market prices.
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Funding Rate Adjustments
Funding rates play a crucial role in aligning perpetual contract prices with spot values. OKX has temporarily adjusted the funding rate caps for LUNAUSDT and ANCUSDT contracts in response to extreme market volatility.
| Period | Lower Bound (a) | Upper Bound (b) |
|---|---|---|
| Before May 11, 16:00 HKT | -0.75% | +0.75% |
| May 11, 16:00 – May 12, 16:00 | -5.0% | +5.0% |
| After May 12, 16:00 | -10.0% | +10.0% |
Formula:Funding Rate = Clamp(MA((Mid Price - Index Price)/Index Price - Interest), a, b)
Where Interest = 0
These dynamic bounds allow for faster price corrections during sharp market swings while protecting traders from excessive funding payments under normal conditions.
Price Limit Rule Modifications
To prevent abnormal price deviations and ensure fair trading, OKX has updated the price capping logic for perpetual contracts.
Updated Parameters
| Contract | Phase | X | Y | Z |
|---|---|---|---|---|
| LUNAUSDT | Before adjustment | 4% | 4% | 8% |
| After adjustment | 6% | 6% | 40% | |
| ANCUSDT | Before adjustment | 6% | 6% | 15% |
| After adjustment | 6% | 6% | 25% |
Interpretation:
- First 10 minutes after listing: Price capped within ±6% of index.
- After 10 minutes: Lower bound is
Max(Min(Index, Index*(1-Y) + premium avg), Index*(1-Z)) - The expanded Z value (especially for LUNAUSDT going from 8% to 40%) allows for wider acceptable trading ranges during high-volatility phases.
This flexibility helps prevent unnecessary forced liquidations due to flash crashes or pump spikes.
Order Size Limit Increases
To accommodate larger traders and institutional participants, OKX has significantly raised the maximum allowable quantities for various order types.
LUNAUSDT Contract
- Previous limit: 14,000 contracts
- New limit: 100,000 contracts
(Applicable to Market Close All, Stop-Loss/Take-Profit, Market Orders, and Plan Orders)
ANCUSDT Contract
- Previous limit: 3,000 contracts
- New limit: 50,000 contracts
(Covers same order types as above)
These increases support deeper market participation and reduce slippage for large-volume traders.
Frequently Asked Questions (FAQ)
Q: Why were these changes implemented?
A: These adjustments were made to enhance market stability, improve liquidity, and manage systemic risks—especially during periods of extreme volatility like those experienced in May 2022.
Q: Do I need to take any action on my open positions?
A: No action is required. Existing orders and positions remain valid and will be processed under the updated rules without disruption.
Q: Will these parameters change again in the future?
A: Yes. OKX reserves the right to adjust trading parameters based on real-time market conditions without prior notice to ensure platform integrity.
Q: How does adding Binance to the index improve fairness?
A: Including Binance diversifies data sources, reduces single-exchange influence, and provides a more representative benchmark price—critical for accurate funding calculations and liquidations.
Q: What happens if funding rates hit ±10%?
A: At these levels, longs pay shorts (or vice versa) at the maximum rate per funding interval. This typically occurs during severe market dislocations but helps pull contract prices back toward fair value.
Q: Are spot trading fees affected by this update?
A: No. This announcement only affects price precision and does not modify fee structures for spot trades.
Final Thoughts
The adjustments to LUNA and ANC trading parameters underscore OKX's commitment to platform resilience and user protection. By refining precision, expanding order limits, recalibrating risk controls, and improving index reliability, OKX ensures traders can operate in a safer, more transparent environment—even during turbulent times.
These updates are part of an ongoing effort to deliver professional-grade tools that meet the demands of both retail and institutional crypto investors.