Traders Gain 24/7 MON/USDT Exposure as OKX Upgrades Contract

OKX, one of the world's largest cryptocurrency exchanges, announced on November 24, 2025, that it will convert the MON/USDT pre-market trading contract into a standard perpetual contract. The transition is set to occur between 23:00 and 02:00 UTC+8 on the same day, with the new contract supporting leverage ranging from 0.01x to 50x. This move aligns with OKX's ongoing efforts to enhance trading flexibility and accommodate evolving market demands for derivative products.

The MON/USDT pair, previously offered as a pre-market contract, allowed traders to speculate on the price of Monero (MON) against Tether (USDT) before official market hours. By converting it to a perpetual contract, OKX is removing time constraints, enabling continuous trading and hedging opportunities. Perpetual contracts, unlike traditional futures, do not have an expiration date and are maintained through funding rates, which balance supply and demand in the market. The updated leverage options - from micro-leverage for conservative traders to high-risk, high-reward 50x positions - reflect OKX's aim to cater to a broad spectrum of trading strategies.

The decision follows broader volatility in the crypto derivatives market. Earlier in the week, Bitcoin's price drop below $85,000 triggered over $2 billion in liquidations across exchanges, with OKX accounting for $138.65 million of that total. While the MON/USDT contract conversion is not directly tied to these events, it underscores exchanges' responsiveness to shifting risk profiles and trader behavior. OKX's move to standardize the contract may also simplify user experiences, as perpetual contracts are more commonly traded and understood compared to pre-market alternatives.

In recent months, OKX has introduced several product updates to bolster its derivatives offerings. These include expanded staking rewards, enhanced risk management tools, and partnerships with institutional-grade analytics platforms. The MON/USDT perpetual contract's launch could further solidify OKX's position in the competitive derivatives space, where rivals like Bybit and Hyperliquid have also seen significant trading volumes according to market analysis.

The transition period for the MON/USDT contract is scheduled during late-night hours in the Asia-Pacific region, a time when liquidity tends to be lower. OKX has not disclosed specific reasons for this timing but may aim to minimize market disruption. Traders are advised to monitor order books and funding rates during the switch, as sudden changes in contract structure can temporarily affect price volatility.

As the crypto market continues to mature, exchanges are increasingly adapting their product suites to meet the needs of both retail and institutional clients. OKX's latest update reflects this trend, offering users greater flexibility while navigating a landscape marked by heightened volatility and regulatory scrutiny.