Key Takeaways
- OKX launches ‘Nitro Spreads’ feature for seamless basis trading on its institutional Liquid Marketplace.
- The feature automates both legs of basis trading into a single click, with a central order book system to eradicate leg risk.
- Nitro Spreads to bolster OKX Liquid Marketplace that surpassed USD1 billion in Q1 2023 trading volume.
OKX, the world’s second-largest cryptocurrency exchange by trading volume and an avant-garde in Web3 technology, has today rolled out its ‘Nitro Spreads’ feature. Unveiled on OKX’s Liquid Marketplace ‘Nitro Spreads’ empowers traders to execute complex basis trades effortlessly with just one click.
Basis trading involves capitalizing on the price discrepancy of an asset across two distinct markets, such as spot versus futures. This strategy can be highly lucrative if adeptly executed.
However, the necessity to simultaneously manage both legs of the trade renders it challenging. OKX’s Nitro Spreads simplifies this convoluted process through automation, harnessing the platform’s exceptional liquidity and minimal latency to optimize user gains.
A distinguishing feature of Nitro Spreads is its deployment of a central order book for executing both legs of the trade. This eliminates leg risk and is a rarity in the crypto sphere.
Moreover, traders can lock in a guaranteed spread prior to execution, safeguarding against unanticipated price slippage. Trades are matched and settled instantaneously.
Lennix Lai, OKX’s Global Chief Commercial Officer, asserted, “In the prevailing multifaceted market landscape, institutions prioritize reliability, calculable returns, and bona fide innovation in selecting a trading venue. Nitro Spreads elevates basis trading efficiency and invites institutional traders to discern how it can refine their strategies and pave the way to triumph.”
https://www.prnewswire.com/news-releases/okx-liquid-marketplace-launches-nitro-spreads-enabling-one-click-basis-trading-for-institutional-clients-301863973.html
OKX’s Liquid Marketplace, already celebrated for providing access to profound institutional liquidity and an array of crypto trading strategies, is set to be bolstered by this development. Back in April, OKX disclosed that the Liquid Marketplace had eclipsed USD1 billion in trading volume within the first quarter of 2023.
Now, Nitro Spreads’ user-friendly interface avails a plethora of basis trading strategies for institutional traders. Strategies such as calendar spreads, future rolls, and funding rate farming can be executed in an order book format.
In near future, the developments in the Crypto Market are set to be enhanced. The influence of Nitro Spread is yet to be seen. What will the future hold? Stay tuned, as we will update you with the latest information.
