The cryptocurrency trading landscape continues to evolve, and OKX remains at the forefront by expanding its suite of advanced financial products. Starting December 21, 2020, at 18:00 HKT, OKX officially introduced support for NEAR protocol across three key services: margin trading, Savings (Yu Bibao), and NEARUSDT perpetual contracts. These features are now available on the web platform, mobile app, and via API access, offering users greater flexibility and opportunity in managing their digital asset portfolios.
This strategic addition underscores OKX’s commitment to delivering innovative tools that empower traders with enhanced leverage options, passive income opportunities, and sophisticated derivatives trading—all centered around high-potential blockchain ecosystems like NEAR.
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Margin Trading and Savings Support for NEAR
OKX has integrated NEAR into both its margin trading and savings platforms, enabling users to leverage their holdings or earn yield with ease.
Margin Trading Features
NEAR margin trading supports two primary trading pairs:
- NEAR/USDT
- NEAR/BTC
This dual-pair availability allows traders to take leveraged positions using either a stablecoin or Bitcoin as collateral, increasing strategic versatility. Users can access detailed information about borrowing tiers, including maximum loan amounts and required collateral ratios, directly within the platform after launch.
Leverage is applied dynamically based on account tier and risk profile, ensuring a secure yet flexible trading environment. For full details on margin borrowing rules and position levels, users are encouraged to explore the updated documentation.
Earn with OKX Savings
Holders of idle NEAR tokens can now put them to work through the OKX Savings program—formerly known as Yu Bibao—a flexible savings solution that offers competitive returns on crypto deposits.
By depositing NEAR into the savings pool, users earn daily interest without locking up funds long-term. Interest is calculated based on real-time market demand for borrowed assets and distributed automatically each day.
The exact available quota and APY rates fluctuate depending on supply and demand dynamics but are transparently displayed within the product interface. This makes it easy for users to monitor earning potential and act quickly when favorable conditions arise.
NEARUSDT Perpetual Contract Overview
Derivatives trading just got more powerful with the introduction of the NEARUSDT perpetual contract, designed for traders seeking exposure to NEAR price movements with added leverage and hedging capabilities.
Key Contract Specifications
- Underlying Index: NEAR/USDT
- Settlement Currency: USDT
- Contract Size: 10 NEAR per contract
- Price Quotation: Based on the USDT value of 1 NEAR
- Minimum Price Increment (Tick Size): 0.0001 USDT
- Leverage Range: Up to 75x (adjustable from 0.01x)
- Trading Hours: 24/7, 365 days a year
- Settlement Time: Daily at 16:00 HKT
Funding Rate Mechanism
The funding rate ensures that the perpetual contract price stays closely aligned with the underlying spot index. It is calculated using the following formula:
Clamp(MA(((Bid + Ask)/2 - Spot Index)/Spot Index - Interest), −0.75%, 0.75%)
Where:
- Interest = 0%
- MA = Moving average over a defined period
- Clamp ensures the rate does not exceed ±0.75%
To prevent abnormal funding charges during initial market volatility, a temporary cap was implemented:
- Until December 21, 24:00 HKT, the maximum funding rate was limited to 0.03%
- After that time, it reverted to the standard ±0.75% range
The first actual funding fee collection occurred at 16:00 HKT on December 22, based on the rate calculated post-adjustment.
All other trading rules—including order types, liquidation mechanisms, and risk limits—align with existing USDT-margined perpetual contracts on OKX. Traders familiar with OKX’s derivatives platform will find a seamless experience when entering NEAR positions.
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Zero-Fee Trading Promotion
To celebrate the launch of the NEARUSDT perpetual contract, OKX rolled out a special zero-fee trading promotion lasting one month from listing.
During this promotional period:
- Maker fee: 0.00%
- Taker fee: 0.00%
- Applies to all user tiers, including professional traders
This incentive lowers entry barriers for new traders and boosts cost efficiency for high-frequency strategies. However, trades executed in this zero-fee zone do not count toward transaction volume used in tier determination, meaning they won’t influence VIP level upgrades or downgrades.
This temporary offer encourages exploration of the NEAR market without added friction from transaction costs—ideal for testing strategies or scaling positions during early adoption phases.
Why Trade NEAR on OKX?
NEAR Protocol is a scalable, developer-friendly Layer 1 blockchain known for its sharded architecture and user-centric design. As decentralized applications grow on its network, trading interest in NEAR has surged among both retail and institutional investors.
By integrating NEAR into its core product stack, OKX enables users to:
- Take leveraged long or short positions
- Earn passive income through savings
- Hedge portfolio risk via perpetual swaps
- Benefit from deep liquidity and tight spreads
These tools collectively support a comprehensive approach to digital asset management—one that combines speculation, income generation, and risk mitigation under a single platform.
Frequently Asked Questions (FAQ)
Q: When did NEAR become available for margin trading and perpetual contracts on OKX?
A: NEAR was officially listed on December 21, 2020, at 18:00 HKT across all platforms—web, mobile app, and API.
Q: Can I use BTC as collateral to trade NEAR on margin?
A: Yes. OKX supports both USDT and BTC as margin currencies for NEAR trading pairs.
Q: How is the funding rate applied in NEARUSDT perpetual contracts?
A: The funding rate is exchanged between longs and shorts every 8 hours. It's designed to keep futures prices close to the spot market using a moving average mechanism capped at ±0.75%.
Q: Does the zero-fee promotion affect my VIP level calculation?
A: No. Volume from zero-fee trades does not contribute to your trading volume for VIP tier assessment.
Q: Is there a lock-up period for NEAR deposited in OKX Savings?
A: No. The savings product offers flexible terms—you can withdraw your assets at any time while still earning daily interest.
Q: Where can I find real-time data on NEAR borrowing rates and savings yields?
A: Visit the respective sections on the OKX platform—Margin or Savings—to view live rates updated according to market conditions.
Final Thoughts
With the integration of NEAR margin trading, Savings, and perpetual contracts, OKX reinforces its position as a leading platform for next-generation crypto finance. Whether you're looking to speculate on price action, earn yield on idle assets, or hedge existing exposures, these tools provide robust functionality tailored to modern trader needs.
As blockchain innovation accelerates, platforms like OKX play a crucial role in bridging emerging projects with global markets—offering accessibility, security, and performance where it matters most.