What is Nitro Spreads?
Nitro Spreads is a spread orderbook within Liquid Marketplace for you to trade spreads and basis. Spread trading is a trading strategy that takes advantage of the price difference, or spread, between the price of related assets on different markets, usually having the same underlying or reference instrument.
Checklist
- How does Spread Trading work on Nitro Spreads?
- How can I trade on OKX Nitro Spreads?
- How do I place an order on Nitro Spreads?
- Select the market you'd like to trade: currently we offer BTC/USDT and ETH/USDT
- In Nitro Spreads, select the available book for the spread that you wish to buy or sell:
- Select Ask, if you'd like to buy the spread
- Select Bid, if you'd like to sell the spread
- Orders that remain open after 7 days will be automatically cancelled.
- How can I cancel a single order on Nitro Spreads?
- Select the tile on the Nitro Spread grid which has a circle with a number indicating how many open orders you have in that particular spread
- Find the tile with a number within a circle to cancel your open order
- Cancel the order you wish to cancel under Open orders
Notes
Spread Trading typically requires traders to manually open positions in two separate orderbooks. With Nitro Spreads, traders can now simply and easily make a spread trade with one-click. All orders in Nitro Spreads are guaranteed to fill in matching quantities for each leg or none at all, thus having zero leg risk and minimized price slippage. It supports various strategies including funding rate farming, spot futures carry trade, and calendar rolls.
Typically, Spread Trading takes the form of Spot versus Perpetual (e.g. BTC/USDT spot vs BTC/USDT perpetual), Spot versus Futures (e.g. ETH/USDT spot vs the ETH/USD quarterly future) , or two futures of different expiry dates (e.g. Quarterly versus Bi-Quarterly Futures on LTC/USDT).
A proficient trader can profit by taking advantage of the price differences (spreads) between the instruments. In this strategy, two positions are opened simultaneously in opposite directions (long and short), with equal amounts for each position. Spreads are constructed to be delta-neutral, meaning that holding a spread strategy involves no delta risk.
Delta refers to how the price of an instrument changes in relation to the reference asset. For instance when the price of BTC/USDT moves up by 1 USDT we would expect the price of a BTC/USDT quarterly future to also move up by about 1 USDT. If both the Spot and the Future price move up by 1, and a trader is long one and short the other, the overall value of their position is unchanged (their delta risk on one is offset by the other, leaving them overall neutral to changes in price). This stability and protection from risk is a key feature and advantage of spread trading.
Details follow the official OKX help article; this page is a learning checklist, not an official mirror.
