The cryptocurrency derivatives market continues to expand, and OKX is at the forefront of innovation by introducing new trading opportunities for fast-growing digital assets. Starting October 18, 2024, traders will gain access to coin-margined perpetual futures for two prominent blockchain ecosystems: SUI and TON. This strategic listing enhances trading flexibility, offering users more ways to hedge, speculate, and gain leveraged exposure to these high-potential assets.
The rollout will occur in phases across both web and mobile platforms, as well as through the OKX API, ensuring seamless integration for retail and institutional traders alike.
Launch Schedule for SUI and TON Perpetual Futures
To ensure a smooth market introduction, OKX has staggered the launch times for each contract:
- SUI/USD Perpetual Futures: Trading opens at 7:00 AM UTC
- TON/USD Perpetual Futures: Trading opens at 7:15 AM UTC
Both contracts will be available for immediate trading upon launch, supporting 24/7 market access with competitive pricing and deep liquidity.
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Key Features of SUIUSD Perpetual Futures
The SUI/USD coin-margined perpetual contract is designed for traders seeking direct exposure to the SUI token’s price movements with efficient settlement in-kind.
Contract Specifications:
- Underlying Index: SUI/USD
- Settlement Currency: SUI
- Face Value: 10
- Price Quotation: Based on the USD value of 1 SUI
- Tick Size: 0.0001 USD
- Leverage Range: 0.01x to 20x (adjustable based on risk settings)
- Funding Fee Mechanism:
Calculated using the formula:Clamp(MA[((Best bid + Best ask)/2 – Spot index price) / Spot index price – Interest], -1.5%, 1.5%)
Where Interest = 0. Funding fees are applied per cycle based on current market conditions. - Trading Hours: Available 24 hours a day, 7 days a week
This structure ensures transparency and fairness in pricing, with funding rates designed to minimize basis divergence while protecting traders from extreme volatility during early trading hours.
Key Features of TONUSD Perpetual Futures
The TON/USD perpetual futures contract offers a robust trading vehicle for participants in The Open Network (TON) ecosystem, combining scalability with decentralized infrastructure.
Contract Specifications:
- Underlying Index: TON/USD
- Settlement Currency: TON
- Face Value: 10
- Price Quotation: USD equivalent of 1 TON
- Tick Size: 0.001 USD
- Leverage Range: 0.01x to 20x
- Funding Fee Mechanism:
Same model as SUI:Clamp(MA[((Best bid + Best ask)/2 – Spot index price) / Spot index price – Interest], -1.5%, 1.5%), Interest = 0
Fees are assessed and applied in real-time during each funding interval. - Trading Hours: 24/7
With slightly larger tick size compared to SUI, the TON contract caters to traders who prefer broader price movements and reduced sensitivity to micro-fluctuations—ideal for active swing and momentum strategies.
Index Composition and Weighting Methodology
To ensure accurate and reliable price discovery, OKX uses a multi-exchange index model that aggregates data from leading spot markets.
SUI/USD Index Constituents:
- Binance: 30.76%
- Bybit: 23.07%
- Gate.io: 15.38%
- OKX: 30.76%
This balanced distribution prevents manipulation and reflects true market sentiment across major trading venues.
TON/USD Index Constituents:
- Bybit: 27.27%
- OKX: 36.36%
- KuCoin: 18.18%
- Gate.io: 18.18%
OKX holds the largest weighting in the TON index, reflecting its strong trading volume and depth in this asset class.
Special Funding Fee Rules During Initial Launch Phase
Given the potential for price volatility and funding rate instability during the initial listing phase, OKX has implemented temporary safeguards:
For both SUIUSD and TONUSD contracts, the maximum predicted funding fee will be capped at 0.03% until 4:00 PM UTC on October 18, 2024.
After this period, the cap will revert to the standard limit of 1.50%, aligning with regular market operations. The first actual funding payment will be settled at 12:00 AM UTC on October 19, 2024.
This measure protects traders from unexpectedly high costs during the stabilization phase while encouraging healthy open interest growth.
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Why Trade Coin-Margined Perpetuals?
Coin-margined perpetual futures offer distinct advantages over their USDT-margined counterparts:
- Direct Exposure: Profits and losses are settled in the base cryptocurrency (SUI or TON), allowing holders to accumulate more of the asset they believe in.
- Hedging Utility: Ideal for long-term investors looking to hedge spot positions without converting to stablecoins.
- Tax Efficiency: In some jurisdictions, holding crypto-denominated gains may offer favorable tax treatment compared to stablecoin-based P&L.
- Ecosystem Participation: Accumulating SUI or TON through trading enables participation in staking, governance, or future airdrops.
These contracts appeal to both speculative traders and strategic investors building exposure in next-generation Layer 1 blockchains.
Trading Best Practices and Risk Management
While high leverage (up to 20x) increases profit potential, it also amplifies risk. Traders should:
- Use stop-loss and take-profit orders to manage downside.
- Monitor funding rates closely—especially around peak settlement times.
- Avoid over-leveraging during volatile news events or macroeconomic shifts.
- Stay updated via OKX announcements for any adjustments in margin requirements or fee structures.
OKX provides comprehensive risk controls, including automatic deleveraging prevention (ADL) levels and insurance funds, to safeguard market integrity.
Frequently Asked Questions (FAQ)
Q: What time do SUI and TON perpetual futures go live?
A: SUI/USD opens at 7:00 AM UTC, followed by TON/USD at 7:15 AM UTC on October 18, 2024.
Q: Are these contracts settled in USD or crypto?
A: Both are coin-margined—settlement occurs in SUI and TON respectively, not in stablecoins or fiat.
Q: Can I trade these contracts via API?
A: Yes, full API support is available at launch for algorithmic and high-frequency traders.
Q: Why is there a temporary funding fee cap?
A: To prevent excessive charges during the initial price stabilization phase when premiums may fluctuate widely.
Q: How is the index price calculated?
A: It’s a weighted average from multiple top-tier exchanges, ensuring fair and resistant-to-manipulation pricing.
Q: Is leverage adjustable after opening a position?
A: Yes, users can modify leverage dynamically in the position management section of their account.
Final Thoughts
The addition of SUI and TON coin-margined perpetual futures underscores OKX’s commitment to supporting emerging blockchain projects with strong fundamentals and growing communities. These listings not only expand trading options but also reflect broader market confidence in scalable, high-performance networks.
Whether you're a seasoned derivatives trader or exploring new frontiers in decentralized technology, now is an excellent time to engage with these innovative ecosystems.
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