In a strategic move to enhance market liquidity and strengthen risk management protocols, OKX implemented significant adjustments to key trading parameters for LUNA and ANC perpetual contracts and spot pairs on May 12, 2022. These changes affect price precision, margin tiers, index composition, funding rates, price limits, and order rules—critical components that shape trading dynamics and user experience.
This article provides a comprehensive breakdown of the updates, explains their implications for traders, and offers insights into how such adjustments support more stable and efficient markets during periods of volatility.
Enhanced Price Precision for Greater Market Granularity
To allow for finer price movements and improved order book depth, OKX adjusted the price precision for several LUNA and ANC trading instruments:
- LUNA/USDT (Spot): From 0.001 to 0.0001
- LUNA/UST (Spot): From 0.001 to 0.0001
- LUNAUSDT (Perpetual Contract): From 0.001 to 0.0001
These enhancements enable traders to place orders with greater accuracy, particularly beneficial in fast-moving or low-volatility environments where small price differentials matter.
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Notably, existing open orders were not canceled due to this change. While they continue to be processed under the original precision in the matching engine, all displayed prices reflect the new standard. API traders are subject to the same handling logic, ensuring consistency across platforms.
Refined Gradient Tier Rules for Risk-Controlled Leverage
OKX revised the gradient tier system for both LUNAUSDT and ANCUSDT perpetual contracts. This tiered structure determines maintenance margin requirements, initial margin rates, and maximum leverage based on position size.
LUNAUSDT Tier Updates
| Tier | Position Size (Contracts) | Maintenance Margin | Initial Margin | 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% | ~18x |
| 5+ | Increases by 600k per tier | +0.5% per tier | +0.5% per tier | Scales down |
ANCUSDT Tier Updates
| Tier | Position Size (Contracts) | Maintenance Margin | Initial Margin | 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% | ~18x |
| 5+ | Increases by 80k per tier | +0.5% per tier | +0.5% per tier | Scales down |
These refinements help prevent excessive leverage at larger position sizes and promote responsible risk-taking across the platform.
Updated Index Composition for More Accurate Benchmarking
To ensure fair valuation and reduce manipulation risks, OKX expanded the number of contributing exchanges in the index calculation for ANC and LUNA derivatives.
For ANC/USD and ANC/USDT, Binance was added as a new component exchange, reducing each participant’s weight from ~33.3% to 25% across Gate.io, KuCoin, OKX, and Binance.
Similarly, for LUNA-BTC and LUNA-USD indices:
- Coinbase's WLUNA/USD pair was replaced with FTX’s LUNA/USD
- Other components (Binance, Huobi, OKX) remained unchanged with equal weighting
This shift improves data reliability by incorporating broader market signals and adapting to evolving exchange liquidity landscapes.
Adjusted Funding Rates to Reflect Market Volatility
Funding rates play a crucial role in aligning perpetual contract prices with spot values. The formula remains:
Funding Rate = Clamp(MA((Mid Price - Index Price)/Index Price), a, b), with interest rate set at zero.However, the clamping bounds (a, b) were temporarily increased:
| Period | Funding Rate Cap (a/b) |
|---|---|
| Before May 11, 16:00 HKT | ±0.75% |
| May 11 – May 12, 16:00 HKT | ±5% |
| After May 12, 16:00 HKT | ±10% |
This flexibility allows the market to absorb extreme imbalances between long and short positions during high-volatility phases without causing cascading liquidations.
Expanded Price Limit Bands for Smoother Trading
To accommodate rapid price swings while maintaining orderly markets, OKX widened the price limit bands used to prevent erroneous trades.
LUNAUSDT Adjustments
- X: Remained at 6% (first 10 minutes)
- Y: Increased from 4% to 6%
- Z: Significantly expanded from 8% to 35%
ANCUSDT Adjustments
- X: Held at 6%
- Y: Maintained at 6%
- Z: Raised from 15% to 25%
These changes allow wider acceptable price ranges after the initial listing phase, especially important when spot prices fluctuate sharply.
Increased Market Order Size Limits
To support larger traders and institutional participants, OKX raised maximum allowable quantities for various types of market orders:
| Contract | Order Type | Old Limit | New Limit |
|---|---|---|---|
| LUNAUSDT | Market Close / Stop-Loss / Take-Profit / Plan Orders | 14,000 | 100,000 |
| ANCUSDT | Same order types | 3,000 | 50,000 |
This expansion enhances execution efficiency and reduces slippage risks for large-volume traders.
👉 Learn how higher order limits can benefit your trading performance during volatile conditions.
Frequently Asked Questions (FAQ)
Q: Why did OKX adjust these trading parameters?
A: These adjustments aim to improve market stability, increase liquidity depth, and manage systemic risk—especially during periods of high volatility like those seen with LUNA and ANC.
Q: Were users notified in advance?
A: Yes, the changes were announced effective May 12, 2022. However, OKX reserves the right to make future adjustments without prior notice based on market conditions.
Q: Do these changes affect spot and futures trading equally?
A: While both spot price precision and perpetual contract parameters were updated, the most extensive modifications apply to perpetual contracts—including margin tiers, funding rates, and order limits.
Q: How do wider price bands help traders?
A: Wider bands reduce the chance of rejected or failed orders during sudden price moves, allowing better trade execution even in turbulent markets.
Q: Is the addition of Binance in the index a permanent change?
A: Index compositions are dynamic. Exchanges may be added or removed based on liquidity, reliability, and market relevance over time.
Q: Can I still use high leverage after these changes?
A: High leverage is still available—but only for smaller positions. As position size increases across tiers, maximum leverage decreases to promote risk control.
Core Keywords
- LUNA trading parameters
- ANC perpetual contract rules
- OKX price precision update
- funding rate adjustment
- gradient margin tiers
- index composition change
- market order limit increase
All trading parameters remain subject to further refinement based on real-time market behavior. Traders are encouraged to monitor official announcements and adapt strategies accordingly.
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