OKX, the second-largest crypto exchange by trading volume, has unveiled a groundbreaking feature on its institutional Liquid Marketplace called ‘Nitro Spreads.’
This new feature aims to simplify basis trading for institutional clients by allowing them to execute complex trades with just one click.
Basis trading involves profiting from the price difference between an asset on two separate markets, such as spot and futures. While it can be a profitable strategy, managing both legs of the trade simultaneously can be challenging.
Nitro Spreads automates this process, streamlining basis trading and leveraging the exchange’s extensive liquidity and low latency for optimal user experience.
What sets Nitro Spreads apart in the crypto market is that it executes both legs of the trade through a central order book, effectively eliminating leg risk between markets.
Traders can also select a guaranteed spread to mitigate price slippage before trading. The trades are matched and settled instantly, providing efficiency and precision in basis trading.
Lennix Lai, OKX Global Chief Commercial Officer, emphasized the importance of reliability, predictable returns, and genuine innovation for institutions in today’s complex market environment.
Nitro Spreads sets a new standard for efficient basis trading and invites institutional traders worldwide to explore its potential to enhance their strategies and contribute to their success.
Institutional traders using Nitro Spreads can execute various basis trading strategies through the user-friendly interface. Popular deltas one spread strategies like calendar spreads, future rolls, and funding rate farming can be seamlessly implemented in an order book format.
The OKX Liquid Marketplace offers access to deep institutional liquidity and supports various crypto trading strategies, including futures spreads, large options block trades, and spot OTC.
In the first three months of 2023, the Liquid Marketplace recorded an impressive trading volume surpassing USD 1 billion.
OKX Wallet Extends Partnership With CertiK
In addition to the Nitro Spreads launch, OKX Wallet has extended its partnership with CertiK, a renowned Web3 security platform. CertiK completed a successful security audit for OKX Wallet’s BRC-20 token contracts, confirming their reliability and robustness.
OKX Wallet, the first multi-chain wallet supporting BRC-20 and Bitcoin NFT trading, plans to introduce more capabilities, such as staking BRC-20 tokens and Bitcoin.
OKX’s collaboration with CertiK aims to enhance security and transparency within the DeFi space. By integrating CertiK’s Skynet security scoring system, OKX’s Web3 Earn DeFi aggregator users can evaluate the security standing of protocols and make informed decisions.
However, by prioritizing security, the exchange strives to provide users with confidence and contribute to the overall security of the DeFi ecosystem.
Related Reading | Bitcoin: Cathie Wood’s Ark Invest Might Be The First To Earn Approval For Spot ETF