via QuoteInspector.com

Hong Kong-based OKEx has announced that Ethereum (ETH) perpetual swaps are now available on its trading platform.

According to the announcement, the perpetual swaps, which are virtual derivative products that are settled in ETH, launched on December 26. The swaps differ from OKEx futures contracts mainly in their delivery, funding, mark price and daily settlement, which occurs once every 12 hours at 3:00 AM and 3:00 PM (CET, UTC+1).

The swaps currently allow for up to 40x leverage and include equal weight constituents of ETH/USD and ETH/BTC trading pairs from major exchanges including Bitstamp, OKEx, Bitfinex, GDAX and Gemini.

In addition to the ETH product, OKEx revealed that it plans to launch perpetual swaps for LTC, ETC, XRP, BCH, and BSV in the near future.

ETH is currently down 6.8% on the day to $117.50, giving the third-largest cryptocurrency a $12.2 billion market cap.

More: ETH Perpetual Swap Available
Related: OKEx Now Lets Users Earn Daily Interest by Lending Their Crypto

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.