Nitro Spreads is a feature within OKX's Liquid Marketplace that enables traders to execute spread trades efficiently. Spread trading capitalizes on price differences between related assets, typically with the same underlying instrument, across different markets.
Key Features of Nitro Spreads:
- One-Click Trading: Execute spread trades seamlessly without manually managing multiple positions.
- Zero Leg Risk: Orders fill only if both legs match, eliminating partial execution risks.
- Diverse Strategies: Supports funding rate farming, spot-futures carry trades, and calendar rolls.
How Spread Trading Works
Spread trading involves simultaneous long and short positions in correlated instruments to profit from price discrepancies. Common pairings include:
- Spot vs. Perpetual Contracts (e.g., BTC/USDT spot vs. BTC/USDT perpetual).
- Spot vs. Futures (e.g., ETH/USDT spot vs. ETH/USD quarterly future).
- Futures of Different Expiries (e.g., quarterly vs. bi-quarterly LTC/USDT futures).
Delta-Neutral Advantage:
Spreads are delta-neutral, meaning price movements in the underlying asset offset each other, minimizing directional risk. For example, if BTC/USDT spot and futures both rise by 1 USDT, a trader’s combined long-short position remains unchanged in value.
Trading on OKX Nitro Spreads: Step-by-Step
Placing an Order:
- Navigate: Log in to OKX > Trade > Liquid Marketplace > Nitro Spreads.
- Select Market: Choose from BTC/USDT or ETH/USDT.
Choose Spread:
- Buy: Select Ask.
- Sell: Select Bid.
- Enter Details: Specify price and quantity.
- Execute Order: Confirm and submit.
Notes:
- Orders crossing the best price fill immediately; others join the orderbook.
- Open orders expire after 7 days.
Canceling Orders:
Option 1: Click the spread tile with an open-order indicator > Cancel under Open Orders.
Option 2: Directly cancel via the Open Orders section.
Immediate Execution:
Select Send as RFQ to request instant quotes from market makers.
Fee Structure
- VIP Users: 50% lower fees vs. central orderbook legs.
- Regular Users: Standard fees apply per leg.
Nitro Spreads FAQ
Supported Instruments
Currently: BTC, ETH, USDT-margined futures/perpetuals. More tokens coming soon.
Spread Combinations
- Spot vs. Perpetual/Futures.
- Futures vs. Futures (e.g., quarterly vs. bi-quarterly).
Bid/Ask Prices
- Bid: Price received when selling the spread (buy near, sell far).
- Ask: Price paid when buying the spread (sell near, buy far).
BBO Offset
A negative offset indicates better prices on Nitro Spreads vs. central orderbook.
👉 Maximize your spread trading efficiency
Liquidity Sharing?
No—Nitro Spreads liquidity is separate from central orderbooks.
Post-Trade Management
Legs become individual positions tradable in central orderbooks.
Margin Usage
Existing central orderbook positions can collateralize Nitro Spreads trades.
Why Choose Nitro Spreads?
👉 Discover zero-leg-risk trading today
By leveraging Nitro Spreads, traders gain precision, reduced slippage, and streamlined execution—ideal for advanced strategies in volatile markets.