The cryptocurrency derivatives market continues to evolve, and OKX remains at the forefront by introducing innovative trading instruments. One of the latest additions is the PENGUUSDT perpetual contract, now live on the platform. This update provides comprehensive details about the launch, contract specifications, and key considerations for traders looking to engage with this new asset.
Whether you're a seasoned trader or exploring new opportunities in the altcoin derivatives space, understanding the mechanics of this offering is essential. Below, we break down everything you need to know in a clear, structured format optimized for both readability and search relevance.
📅 Launch Time and Availability
The PENGUUSDT perpetual contract officially went live on December 17, 2024, at 23:55 UTC+8. It is now available across all major access points:
- Web platform
- Mobile app (iOS and Android)
- API trading interface
This multi-channel availability ensures that traders can execute positions seamlessly, whether through manual trading, algorithmic strategies, or mobile monitoring.
👉 Discover how to start trading PENGUUSDT with advanced tools and real-time data.
🔍 Contract Specifications Overview
Understanding the core parameters of a perpetual contract is crucial for risk management and strategic planning. Here's a detailed breakdown of the PENGU/USDT perpetual contract specifications:
Underlying Asset
- Index: PENGU/USDT
The contract tracks the price of PENGU against the USDT stablecoin via an index mechanism.
Settlement Currency
- Settlement: USDT
All profits, losses, and margin requirements are denominated in USDT, offering stability and wide compatibility across crypto portfolios.
Contract Value
- Face Value: 100
Each contract represents 100 units of the underlying asset (PENGU), which helps standardize position sizing.
Pricing Mechanics
- Quotation Unit: Price of 1 PENGU in USDT
- Tick Size: 0.000001
This ultra-fine price increment allows for precise order placement and tight spreads, especially beneficial in low-latency trading environments.
Leverage Options
- Adjustable Leverage: 0.01x to 50x
Traders can fine-tune their exposure based on risk appetite. While high leverage amplifies potential returns, it also increases liquidation risk—caution is advised, especially during volatile market conditions.
Funding Rate Mechanism
The funding fee is calculated using the following formula:
Funding Fee = Clamp(MA[(Bid + Ask)/2 – Spot Index Price] / Spot Index Price – Interest, -1.5%, 1.5%)Where:
Interest= 0%- Funding is paid/received periodically using a clamp function to prevent extreme rates
- The maximum rate is capped at ±1.5%
⚠️ Important Note: To mitigate unfair funding charges during initial volatility:
- Until December 18, 2024, at 00:00 UTC+8, the funding rate cap was limited to ±0.03%
- After that time, it reverted to the standard ±1.5%
- The first actual funding payment occurred at 08:00 UTC+8 on December 18
This temporary measure protected early participants from exaggerated funding costs due to potential price dislocations at launch.
Trading Hours
- 24/7 Trading: Available every day of the week
Unlike traditional markets, there are no closures—trading continues uninterrupted.
💡 Why Trade PENGUUSDT Perpetual Contracts?
Perpetual contracts have become a cornerstone of crypto derivatives due to their flexibility and continuous settlement model. The PENGUUSDT pair offers several advantages:
- Exposure to Emerging Assets: Gain leveraged exposure to PENGU without holding the physical token.
- Hedging Tool: Useful for portfolio managers managing PENGU spot holdings.
- Speculative Opportunities: Capitalize on both upward and downward price movements.
- Deep Liquidity Integration: Built on OKX’s robust matching engine with consistent order book depth.
👉 Access real-time charts, depth analysis, and one-click trading for PENGUUSDT.
🛠️ Trading Rules and Consistency
The PENGUUSDT perpetual contract follows the same standardized trading rules as other USDT-margined perpetuals on OKX, including:
- Limit order types (Post-only, IOC, FOK)
- Stop-loss and take-profit triggers
- Liquidation and maintenance margin thresholds
- Insurance fund mechanisms
For full technical documentation, refer to the official Perpetual Contract User Guide provided by OKX.
❓ Frequently Asked Questions (FAQ)
Q1: When did the PENGUUSDT perpetual contract go live?
A: The contract launched on December 17, 2024, at 23:55 UTC+8 on all platforms including web, app, and API.
Q2: What is the maximum leverage available?
A: Traders can use up to 50x leverage, adjustable based on position size and account settings.
Q3: Why was the funding rate capped initially?
A: To protect traders from excessive funding fees caused by potential price volatility during the first few hours post-launch. The cap was set at ±0.03% until December 18, 2024, 00:00 UTC+8, after which it returned to ±1.5%.
Q4: How often are funding fees charged?
A: Funding occurs every 8 hours (at 00:00, 08:00, and 16:00 UTC+8). The first charge for PENGUUSDT happened at 08:00 UTC+8 on December 18.
Q5: Can I trade PENGUUSDT via API?
A: Yes. The contract is fully supported on OKX’s API system, enabling algorithmic trading, automated bots, and custom dashboards.
Q6: Is there a minimum trade size?
A: There is no fixed minimum; however, your order must meet the exchange’s minimum notional value requirement (typically equivalent to a few USDT).
🔑 Core Keywords
To ensure optimal visibility and alignment with user search intent, the following keywords have been naturally integrated throughout this article:
- PENGUUSDT perpetual contract
- OKX derivatives launch
- USDT-margined futures
- Crypto leverage trading
- Funding rate mechanism
- 24/7 crypto trading
- Perpetual contract specs
- High-frequency trading crypto
These terms reflect common queries from traders seeking information on new listings, contract details, and platform capabilities.
Final Thoughts
The introduction of the PENGUUSDT perpetual contract underscores OKX’s commitment to expanding its suite of tradable assets while maintaining rigorous standards for fairness and transparency. With competitive tick sizes, flexible leverage, and smart safeguards like temporary funding caps, this product caters to both retail and professional traders.
As always, proper risk management—such as using stop-loss orders and avoiding over-leverage—is critical when engaging with volatile or newly listed assets.
👉 Start trading PENGUUSDT today with institutional-grade tools and deep liquidity.
By combining technical precision with user-centric design, OKX continues to solidify its position as a leading destination for digital asset derivatives trading in 2025 and beyond.