Post
Topic
Board Exchanges
Re: OKEx Suspends Withdrawls
by
oriolpont
on 26/10/2020, 11:33:34 UTC
I don't think getting paid something like 80 cents on the dollar is worth it. Why don't traders just open another account at another leverage exchange like Binance Futures or Bitmex. Then go 100x their account when they think BTC is going to go up and basically try to get liquidated on OKex and get the entire sum on the other account minus fees on both exchanges.

Wat? Even at the lowest margin tier (which is $50k max, i.e., at 100x salvages $500 max), liquidation costs amount to 0.5% which, at 100x, would take 50% of the margin. Add an additional 0.06% -> 6% and whatever the fees at the other exchange. A ruinous strategy.