Stock perpetuals are a class of perpetual products offered by OKX Europe, with the underlying benchmark referring to the prices of TradFi stocks and related tokenised products. These instruments are USDT-margined perpetuals and follow the same rules for margin, funding, and liquidation. They can be traded directly in an OKX trading account, without opening a separate account, in futures mode with multi-currency margins and portfolio margin options.
Index pricing for stock perpetuals is designed to reflect stock prices through an index built from multiple price providers, with certain components potentially smoothed via EMA. OKX applies an index bands protection mechanism, capping the index price within a 10% range of traditional equity prices; when traditional markets are closed on weekends, the last available price is used to limit the index price. The components and protection rules may be adjusted in real time based on market conditions, as documented in the product rules.
The mark price and price limit rules for stock perpetuals align with those of regular perpetual futures. Corporate actions—such as stock splits, mergers, or spin-offs—may trigger contract adjustments in accordance with OKX’s applicable rules, with notices issued when appropriate. Important risk warnings accompany stock perpetuals: they are derivative instruments that do not confer ownership of underlying equities or indices, are not securities, and are subject to regional access restrictions and market risks; users are responsible for understanding the suitability of these products for their financial circumstances.
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