OKX to list Pre-IPO pre-market perpetual futures for SPACEX/USDT, OPENAI/USDT, and ANTHROPIC/USDT
We are pleased to announce that USDT-margined pre-market perpetual futures for SPACEX, OPENAI and ANTHROPIC will be as follows. The updates will cover both the web and app interfaces as well as the API:
Listing Time
SPACEX/USDT pre-market trading opens at 09:00 (UTC) on May 7, 2026
OPENAI/USDT pre-market trading opens at 09:15 (UTC) on May 7, 2026
ANTHROPIC/USDT pre-market trading opens at 09:30 (UTC) on May 7, 2026
Product description
Pre-IPO pre-market perpetual futures are USDT-settled perpetual futures whose underlying companies have not yet completed an IPO, allowing you to trade their valuation changes. You do not hold any equity; you only trade the perpetual futures' price movements. perpetual futures are priced as per-share price × total share count ≈ market cap. Once a company files its S-1 prospectus disclosing the actual share count, a Rebase (proportional adjustment) will be executed to keep your position value unchanged. Once the IPO is completed, the perpetual futures will automatically be converted to a standard stock perpetual contract. For trading rules, please refer to Pre-IPO Pre-Market Trading Product Rules: Pre-IPO perpetual futures
Contract specifications
Features | Details | Details | Details |
Underlying | SPACEX/USDT index | OPENAI/USDT index | ANTHROPIC/USDT index |
Settlement crypto | USDT | USDT | USDT |
Face value | 1 SPACEX | 1 OPENAI | 1 ANTHROPIC |
Price quotation | Quoted in USDT per 1 SPACEX: Before the rebase: 1 SPACEX ≈ 1/1,000,000,000 of the company's market cap After the rebase: 1 SPACEX corresponds to 1 actual share of the company | Quoted in USDT per 1 OPENAI: Before the rebase: 1 OPENAI ≈ 1/1,000,000,000 of the company's market cap After the rebase: 1 OPENAI corresponds to 1 actual share of the company | Quoted in USDT per 1 ANTHROPIC: Before the rebase: 1 ANTHROPIC ≈ 1/1,000,000,000 of the company's market cap After the rebase: 1 ANTHROPIC corresponds to 1 actual share of the company |
Leverage | 0.01 – 5x | 0.01 – 5x | 0.01 – 5x |
Funding rate | Fixed daily rate of 0% | Fixed daily rate of 0% | Fixed daily rate of 0% |
Funding fee settlement interval | Every 8 hours | Every 8 hours | Every 8 hours |
Trading hours | 24/7 | 24/7 | 24/7 |
Contract type | Perpetual futures | Perpetual futures | Perpetual futures |
Estimated share count | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Risk warning
The above perpetual futures have not yet been publicly filed via S-1; actual total share count, valuation, and IPO timing are uncertain. Please assess the associated risks carefully and bear the relevant risks at your own discretion.
The perpetual futures price is determined by market buyers and sellers and may not accurately reflect the above perpetual futures' actual stock prices after IPO.
OKX does not guarantee that the above perpetual futures will ultimately complete an IPO. If an IPO is cancelled, OKX reserves the right to delist or settle the perpetual futures at a price determined at OKX's sole discretion, which may differ materially from your entry price.
The rebase may introduce minor rounding differences; your position value is substantially preserved across the rebase.
Pre-IPO perpetual futures may experience significantly higher short-term volatility than perpetual futures on listed equities. Please assess your risk tolerance carefully.
Post-IPO product conversion — material term changes: upon the completion of the IPO of any of the above perpetual futures, OKX will convert the contract to a standard stock perpetual contract. The Pre-IPO contract price may differ materially from the actual IPO listing price. A separate announcement will be published before conversion. If you do not wish to hold a standard stock perpetual contract, you should close your position before the conversion effective time.
Risk warning: Digital asset holdings involve a high degree of risk and can fluctuate greatly. You should only invest in products you are familiar with and where you understand the associated risks. OKX is not responsible for any losses you may incur from trading digital assets. Investors may lose the entire value of their investment.
OKX may suspend such trading in pre-market conditions at any time and at its sole discretion. Please refer to Terms of Service and Risk & Compliance Disclosure for more details.
OKX team
May 7, 2026