In a strategic move to enhance market liquidity and strengthen risk management, OKX has implemented key adjustments to the trading parameters for LUNA and ANC spot and perpetual contracts. These changes, effective from May 12, 2022, at 12:00 HKT, include updates to price precision, tiered margin rules, index composition, funding rates, price limits, and order placement thresholds.
This comprehensive update reflects OKX’s commitment to maintaining a stable, secure, and efficient trading environment—especially during periods of high market volatility.
👉 Discover how top-tier exchanges manage volatility with dynamic trading parameters.
Enhanced Price Precision for Greater Market Efficiency
To support finer price discovery and tighter spreads, OKX has increased the price precision for select LUNA and ANC trading pairs.
Updated Price Precision
- 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 adjustments allow traders to place orders with greater granularity, improving execution accuracy and enabling more sophisticated trading strategies.
Important Notes on Existing Orders
- Existing orders will not be canceled due to this change.
- Orders placed before the adjustment will continue to be matched based on their original price precision.
- Historical and open orders will be displayed using the new precision format.
- API traders are subject to the same rules—no disruptions or forced cancellations.
This seamless transition ensures minimal impact on active positions while paving the way for improved market depth.
Refined Tiered Margin Rules for Risk Control
To better align margin requirements with position size and market risk, OKX has updated the tiered margin system for both LUNAUSDT and ANCUSDT perpetual contracts.
LUNAUSDT Tiered Margin Structure
| Tier | Position Size (Contracts) | Maintenance Margin Rate | Initial Margin Rate | 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% | 18.18x |
| 5+ | Increases by 600,000 | +0.5% per tier | +0.5% per tier | Scales down |
ANCUSDT Tiered Margin Structure
| Tier | Position Size (Contracts) | Maintenance Margin Rate | Initial Margin Rate | 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% | 18.18x |
| 5+ | Increases by 80,000 | +0.5% per tier | +0.5% per tier | Scales down |
Higher tiers now require proportionally higher margin rates to mitigate systemic risk during extreme price movements—a critical safeguard in volatile markets.
👉 Learn how advanced margin systems protect traders during market swings.
Updated Index Composition for Accurate Pricing
To ensure fair and representative pricing, OKX has revised the index components used to calculate mark prices for LUNA and ANC derivatives.
Key Changes in Index Weighting
- ANC Index (ANC/USD & ANC/USDT): Previously sourced from Gate.io, KuCoin, and OKX with equal weighting (33.3%), now includes Binance as a fourth contributor.
- New weighting: 25% each from Gate.io, KuCoin, OKX, and Binance—improving decentralization and data reliability.
- LUNA Index Series (BTC & USD pairs): Removed Coinbase’s WLUNA/USD pair due to representational concerns; replaced with FTX’s LUNA/USD data.
This rebalancing enhances index resilience against manipulation and ensures more accurate funding rate calculations and liquidation triggers.
Expanded Funding Rate Bounds for Market Stability
Funding rates play a crucial role in aligning perpetual contract prices with spot markets. OKX has adjusted the funding rate caps to accommodate heightened volatility.
Funding Rate Formula
Funding Rate = Clamp(MA((Mid Price - Index Price) / Index Price - Interest), a, b)Where Interest = 0.
Updated Funding Rate Limits (LUNAUSDT & ANCUSDT)
| Period | Lower Bound (a) | Upper Bound (b) |
|---|---|---|
| Before May 11, 16:00 HKT | -0.75% | +0.75% |
| May 11 – May 12, 16:00 HKT | -5.0% | +5.0% |
| After May 12, 16:00 HKT | -10% | +10% |
These expanded bounds allow the market to absorb extreme imbalances between long and short positions without artificial pressure—critical during black swan events.
Adjusted Price Limit Rules for Smoother Trading
To prevent flash crashes or spikes from triggering cascading liquidations, OKX has updated its price capping logic.
New Price Limit Parameters
| Contract | Adjustment Phase | X | Y | Z |
|---|---|---|---|---|
| LUNAUSDT | Before | 4% | 4% | 8% |
| After | 6% | 6% | 35% | |
| ANCUSDT | Before | 6% | 6% | 15% |
| After | 6% | 6% | 25% |
Where:
- X: Cap during first 10 minutes after contract launch
- Y: Base deviation factor after first 10 minutes
- Z: Maximum allowable deviation from index price
The significant increase in Z for LUNAUSDT (from 8% to 35%) provides much-needed breathing room during volatile launches or news-driven surges.
Increased Order Size Limits for Better Liquidity Access
To support larger traders and institutions, OKX has raised maximum order sizes for market-type orders.
Updated Order Limits
| Contract | Order Type | Old Limit (Contracts) | New Limit (Contracts) |
|---|---|---|---|
| LUNAUSDT | Market Close All | 14,000 | 100,000 |
| Market Take-Profit/Stop-Loss | 14,000 | 100,000 | |
| Market Order | 14,000 | 100,000 | |
| Market Plan Order | 14,000 | 100,000 | |
| ANCUSDT | Market Close All | 3,000 | 50,000 |
| Market Take-Profit/Stop-Loss | 3,000 | 50,000 | |
| Market Order | 3,0, | 59, |
These increases allow faster execution of large positions without fragmenting trades—reducing slippage and improving user experience.
Frequently Asked Questions (FAQ)
Q: Why were these changes made?
A: The adjustments aim to improve market stability, increase liquidity depth, and reduce systemic risk—especially during periods of high volatility like those seen with LUNA and ANC in early May 2992.
Q: Were users notified in advance?
A: Yes, these updates were announced prior to implementation. However, OKX reserves the right to make emergency adjustments under extreme market conditions without prior notice.
Q: Do these changes affect open positions?
A: No. Open positions are not automatically liquidated or modified. Existing orders remain valid under pre-adjustment rules until executed or canceled.
Q: How does the new index composition improve fairness?
A: By adding Binance as a data source and removing less representative pairs like WLUNA/USD, the index becomes more reflective of true market value across major exchanges.
Q: What happens if funding rates hit ±19%?
A: At those levels, longs pay shorts heavily (or vice versa), which incentivizes traders to close imbalanced positions and bring the contract price back in line with the spot market.
Q: Will these parameters stay fixed?
A: No. OKX monitors market conditions continuously and may adjust these settings dynamically based on volatility, trading volume, and risk exposure.
👉 See how real-time risk engines adapt to changing crypto markets.
Conclusion
OKX’s recent updates to LUNA and ANC trading parameters demonstrate a proactive approach to exchange risk management. From refined margin tiers to expanded funding rate caps and improved index sourcing, every change is designed to protect traders and maintain orderly markets—even under stress.
As the crypto ecosystem evolves, platforms must balance innovation with stability—and OKX’s actions set a benchmark for responsive governance in digital asset trading.
Note: All parameters are subject to further adjustment based on market conditions without advance notice.