The digital asset trading landscape is continuously evolving, and precision in pricing plays a critical role in ensuring smooth, efficient, and fair market operations. To enhance market liquidity and improve user trading experience, OKX will adjust the minimum price precision for select spot and margin trading pairs on December 21, 2023, from 11:30 AM to 12:00 PM (UTC+8).
This update will impact specific cryptocurrency pairs and is designed to align with broader market standards, allowing for tighter spreads, improved order book depth, and more granular price control. All adjustments will be reflected simultaneously across both spot and margin trading platforms for the affected pairs.
Updated Price Precision for Key Trading Pairs
The following changes will take effect during the scheduled maintenance window:
| Trading Type | Trading Pair | Previous Precision | New Precision |
|---|---|---|---|
| Spot | ZEC/USDT | 0.01 | 0.001 |
| Spot | ZEC/USDC | 0.01 | 0.001 |
These updates mean traders will be able to place orders with greater accuracy—down to three decimal places instead of two—allowing for finer control over entry and exit points. This change particularly benefits high-frequency traders, algorithmic systems, and those employing advanced order types such as limit, stop-loss, or take-profit orders.
Risk Advisory During Adjustment Period
During the transition phase, temporary trading restrictions will apply under specific conditions:
Pairs undergoing reduced precision (e.g., from 0.0001 to 0.01) will experience a 2-minute trading suspension. During this time, users cannot:
- Place new orders
- Cancel existing orders
- Add margin
- Transfer funds related to the affected pair
⚠️ Note: Only pairs with downward precision adjustments are affected. All other trading pairs remain fully operational during this period.
In contrast, pairs receiving increased precision (e.g., from 0.01 to 0.001) will not face any trading interruptions, and all existing orders will continue to be processed normally.
Order Handling Rules During Precision Changes
To ensure system integrity and fairness, OKX has established clear rules for managing active orders during precision adjustments.
1. When Precision Decreases (e.g., from 0.0001 → 0.01)
a. Limit Orders
- Orders with a price precision greater than the new standard will be automatically canceled.
- Orders with precision less than or equal to the new standard will remain active.
Example:
An order priced at 130.2442 would be canceled if the new precision only allows two decimal places (0.01). However, an order at 130.24 would remain valid.
b. Strategy Orders
All strategy-based orders follow similar logic:
- If the order’s price exceeds the new precision limit → canceled
- If within limits → retained
However, the impact on automated strategies varies by type:
- Grid and Martingale strategies (including Spot Grid, Futures Grid, Infinite Grid, Dual-Side Grid, Spot Martingale, Futures Martingale):
Cancellation of any grid order leads to termination of the entire strategy. - Other strategies (e.g., Signal Trading, Time-Weighted Average Price, Iceberg Orders, Dollar-Cost Averaging, Arbitrage, Take-Profit/Stop-Loss, Trailing Stop, Conditional Orders):
Strategy remains active. After trading resumes, new orders will be placed using the updated price precision.
2. When Precision Increases (e.g., from 0.01 → 0.001)
- All existing orders—regardless of previous precision—are fully preserved.
- No cancellations occur.
- Users can continue trading seamlessly post-update.
API vs. Web/Mobile User Considerations
It's important to note that API traders enjoy additional flexibility during transitions:
- If an API user submits an order using old precision (e.g., four decimals after a change to two), the system will automatically truncate the price to match the new standard.
- This ensures backward compatibility and reduces disruption for algorithmic trading bots.
In contrast, web and mobile users must manually comply with the new precision rules; attempts to submit orders with outdated formatting will result in rejection.
Historical Data & Position Display Logic
Transparency in historical records is crucial for performance analysis and compliance reporting. Here's how OKX handles display formats post-adjustment:
1. When Precision Is Reduced (e.g., from 0.0001 → 0.01)
Web and Mobile Users: Historical trades and open positions will be displayed using the new precision level, applying the following rounding rules:
- Buy orders: Rounded down (truncated)
- Sell orders: Rounded up (ceiling)
This maintains consistency while preventing misrepresentation due to truncation bias.
- API Users: Continue to access data in original precision, preserving full fidelity for technical analysis and backtesting.
2. When Precision Is Increased (e.g., from 0.01 → 0.001)
- All historical data continues to display at the original precision level.
- New trades reflect the enhanced granularity.
Frequently Asked Questions (FAQ)
Q: Why is OKX adjusting price precision?
A: The adjustment aims to improve market depth, reduce slippage, and support more sophisticated trading strategies by enabling finer price increments where needed.
Q: Will my open positions be liquidated during the adjustment?
A: No. Position values are recalculated using standardized rounding methods. As long as margin requirements are met, positions remain safe.
Q: Do I need to update my trading bots or scripts?
A: For API users, updates are recommended but not mandatory—the system auto-truncates prices. However, updating ensures optimal performance and avoids confusion.
Q: Are futures or perpetual swaps affected by this change?
A: This announcement specifically addresses spot and margin pairs. Any futures-related changes will be communicated separately.
Q: How can I prepare for future precision updates?
A: Regularly check OKX announcements, monitor your active strategies, and consider building flexibility into your trading logic to adapt to format changes.
Q: Is there any fee associated with these adjustments?
A: No fees are charged due to price precision changes. All modifications are part of platform optimization efforts.
Final Notes
Users trading the affected pairs—ZEC/USDT and ZEC/USDC—are encouraged to review their open orders, active strategies, and risk parameters ahead of the maintenance window. While most changes are seamless, proactive preparation minimizes unintended disruptions.
We apologize for any inconvenience caused by temporary suspensions or order cancellations and appreciate your understanding as we work to deliver a more robust and responsive trading environment.
OKX remains committed to innovation, transparency, and user empowerment through continuous product enhancements and responsive service improvements.
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