OKX is excited to announce the launch of pre-market trading for HYPE (Hyperliquid), providing traders with an advanced opportunity to engage with this new asset before its official spot market listing. This guide covers everything you need to know about participating in HYPE pre-market trading, including key details, trading mechanisms, and risk management.
What is HYPE (Hyperliquid)?
Hyperliquid is a high-performance Layer 1 (L1) blockchain built from the ground up to optimize decentralized finance (DeFi). Its vision is to create a fully on-chain, open financial system. The flagship native application is a fully on-chain order book perpetual exchange known as the Hyperliquid DEX.
- Full Name: Hyperliquid
- Ticker Symbol: HYPE
- Type: Layer 1 blockchain and decentralized exchange (DEX)
Understanding Pre-Market Trading
Pre-market trading on OKX allows users to trade futures contracts for cryptocurrencies that have not yet been officially listed on the spot market. These are USDT-margined futures contracts that are typically settled before or around the time the new token is listed on the exchange’s spot trading platform.
This innovative feature offers a secure and reliable platform for price discovery, enabling traders to speculate on and respond to early market sentiment.
Key Features of HYPE Pre-Market Contracts
- Underlying Asset: HYPE/USDT Index (based on the contract’s latest transaction price)
- Settlement Currency: USDT
- Contract Face Value: 0.1 HYPE
- Price Quotation: USDT price per 1 HYPE
- Minimum Price Movement (Tick Size): 0.001
- Leverage: 0.01x to 5x
- Trading Hours: 24/7
- Contract Type: Futures contract
- Settlement Time: To be announced. Settlement usually occurs around the time of the token’s official spot market listing.
Trading Rules and Position Tiers
Pre-market trading follows specific position tier rules and user limits. Below are the key configurations:
1. Tiered Position Limits
| Tier | Max Open Position (Contracts) | Maintenance Margin Rate | Initial Margin Rate | Max Leverage |
|---|---|---|---|---|
| 1 | 1,000 | 5.00% | 20.00% | 5x |
| 2 | 8,000 | 15.00% | 25.00% | 4x |
| 3 | 15,000 | 19.00% | 33.33% | 3x |
| 4 | 20,000 | 20.00% | 33.33% | 3x |
| 5 | 30,000 | 21.00% | 33.33% | 3x |
| 6 | 40,000 | 22.00% | 33.33% | 3x |
| 7 | 50,000 | 23.00% | 33.33% | 3x |
| 8 | 60,000 | 24.00% | 33.33% | 3x |
| 9 | 70,000 | 25.00% | 33.33% | 3x |
| 10 | 80,000 | 26.00% | 33.33% | 3x |
| 11 | 90,000 | 27.00% | 33.33% | 3x |
| 12 | 100,000 | 28.00% | 33.33% | 3x |
2. User Position Limits
| User Type | Position Limit (Contracts) |
|---|---|
| USDT-Market Maker (DMM) Users | 100,000 |
| Non-USDT-Market Maker (DMM) Users | 8,000 |
How to Prepare for Trading
To participate in HYPE pre-market trading, ensure you have sufficient USDT in your trading account. You can deposit USDT through the funding section of your account dashboard.
👉 Deposit USDT to start trading
Risk Disclaimer
- Pre-market trading prices are determined by market activity between buyers and sellers. These prices may not accurately reflect the final listing price of the token once it is officially launched.
- OKX does not guarantee that tokens available in pre-market trading will eventually be listed on the spot market. Always refer to official OKX listing announcements for confirmation.
- OKX reserves the right to suspend pre-market contract trading at any time at its sole discretion.
Traders are encouraged to review OKX’s terms of service and risk disclosure documents for further clarity.
Frequently Asked Questions
What is pre-market trading in crypto?
Pre-market trading allows users to trade futures contracts of a cryptocurrency before it is officially listed on the spot market. It helps in early price discovery and offers exposure to new assets ahead of their public launch.
How is settlement handled in pre-market contracts?
Settlement typically occurs around the time of the token’s official spot market listing. The exact settlement date is announced by OKX prior to the event.
Can I use leverage in pre-market trading?
Yes, leverage is available ranging from 0.01x up to 5x, depending on your position tier and risk level.
What are the trading hours for pre-market contracts?
Pre-market trading is available 24 hours a day, 7 days a week, including weekends.
Is pre-market trading available worldwide?
Availability may depend on local regulations. Users should ensure that their jurisdiction permits trading futures contracts on cryptocurrencies.
What happens if the token isn’t listed?
If the token does not get listed on the spot market, the pre-market contract will be settled based on the last available price or as per the exchange’s contingency protocols.
OKX remains committed to offering innovative trading products and a secure, user-friendly experience. We wish you a successful trading journey with HYPE pre-market contracts.