Dear OKX Users,
To enhance your trading experience and reduce trading costs, OKX will adjust the minimum order quantity and order quantity precision for select perpetual and futures contracts on March 14, 2024, from 2:00 PM to 6:00 PM (UTC+8). Below are the key details:
Key Adjustments
| Contract Type | Symbol | Previous Minimum Order Quantity & Precision (Contracts) | Updated Minimum Order Quantity & Precision (Contracts) |
|---|---|---|---|
| Futures Contract | LTCUSDT | 1 | 0.1 |
| Perpetual Swap | LTCUSDT | 1 | 0.1 |
| Perpetual Swap | SHIBUSDT | 1 | 0.1 |
👉 Learn more about trading rules
Note: These adjustments will not affect ongoing trades, fund transfers, or leverage modifications.
Understanding Order Quantity Precision & Minimum Order Quantity
1. Definitions
- Order Quantity Precision: The smallest incremental change allowed for order sizes.
Example: If ETHUSDT perpetual swaps have a precision of 0.1 contracts (0.01 ETH), orders must increment by 0.1 contracts (e.g., 1.1, 1.2). - Minimum Order Quantity: The smallest allowable order size, always a multiple of the precision.
Example: For ETHUSDT with a 1-contract minimum, orders must be ≥1 contract but can increase by 0.1-contract increments.
2. Display Rules for Positions & Orders
After adjustments, positions and open orders may display fractional quantities (e.g., 10.5 contracts for SHIBUSDT). This applies to:
- Unfilled/partially filled orders
- API, algorithmic, and copy trading
3. Order Submission Rules
New or modified orders must:
- Be multiples of the updated precision
- Meet the revised minimum quantity
Example: SHIBUSDT orders must now be in 0.1-contract increments (100,000 SHIB), with a minimum of 0.1 contracts.
FAQ Section
Q1: Will this affect my existing positions?
A1: No. Adjustments only apply to new/modified orders post-update.
Q2: How does fractional contract display work?
A2: Positions like 1.5 contracts (1,500,000 SHIB) will now show decimals where precision is <1.
Q3: Are API endpoints changing?
A3: Yes. The lotSz (precision) and minSz (minimum size) fields in API/WebSocket responses will reflect new values.
We apologize for any inconvenience and appreciate your understanding. OKX remains committed to delivering exceptional products and services.
OKX Team
January 12, 2024