NASSAU, the Bahamas, Oct. 09, 2023 (GLOBE NEWSWIRE) -- OKX, a leading crypto exchange and Web3 technology company, has issued updates for October 9, 2023.
OKX Nitro Spreads Surpasses 2 Billion USDT in Cumulative Trading Volume Since July 2023 Launch
OKX today announced that Nitro Spreads, a venue for institutional traders to execute basis, futures spreads, funding rate arbitrage and rolling delta strategies, has surpassed a cumulative trading volume of 2 billion USDT since its launch on OKX's Liquid Marketplace – a spot OTC, futures spreads and options liquidity network.
The milestone solidifies Nitro Spread's position as a leading trading venue for institutional traders seeking efficient and intuitive tools to pursue their trading strategies. With its unrivalled liquidity, comprehensive spread offerings, advanced trading tools and dedicated 24/7 support, OKX continues to demonstrate its commitment to providing a seamless experience for all types of users, including the important institutional segment.
Since its launch in July 2023, OKX has implemented several enhancements to further improve users' experience on Nitro Spreads, including:
- WebSocket trading support, enabling traders to place an order more quickly than most other platforms that only support REST APIs.
- This brings Nitro Spreads in line with the high-frequency trading feature sets, such as WebSocket trading, offered by the main OKX exchange.
- Spreads on the weeklies and quartiles of inverse contracts; spreads on these futures did not exist on OKX before the introduction of Nitro Spreads.
In the coming weeks, Nitro Spreads will welcome further additions. This includes spreads between USDT-margined and crypto-margined futures, which is a first in the crypto industry. In addition to its XRP spot against perpetual futures spread, four more altcoins - SOL, DOGE, LTC and BCH - will also be added to Nitro Spread’s existing range of funding rate arbitrage spreads.
Nitro Spreads is an innovative trading venue available on OKX's Liquid Marketplace, a spot OTC, futures spreads and options liquidity network. With the ability to execute both legs of a trade via a central orderbook, Nitro Spreads minimizes leg risk between markets and provides institutional traders with enhanced capital efficiency. Traders can choose from 20+ custom multi-leg strategies on cryptocurrencies such as ETH, BTC and USDT, as well as altcoins, ensuring flexibility and adaptability to suit their trading strategies.
For further information, please contact:
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform's latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com