> For the complete documentation index, see [llms.txt](https://ocx.gitbook.io/ocx-doc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ocx.gitbook.io/ocx-doc/ocx/product/overview.md). # overview OCX is a derivatives exchange that brings four product families under one collateral pool and one cross-margin system. ## The four products ### Spot Buy and sell the underlying asset directly. Spot pairs settle instantly in your portfolio and serve as the reference book that OCX uses to anchor perpetual quotes, preventing self-arbitrage between spot and perp. Examples: `BTC-USDC-SPOT`, `XAUT-USDC-SPOT`, `WTIOIL-USDC-SPOT`. ### Perpetuals A continuously quoted derivative with no expiry. Unlike most crypto perpetuals, OCX perps are **anchored to the futures curve**, not spot. Funding is exchanged every five minutes, capped at 25 bps per period. Examples: `BTC-PERP`, `XAUT-USDC-PERP`, `WTIOIL-PERP`. ### Quarterly Futures Cash-settled futures with fixed expiry dates. OCX typically lists two contracts at a time — a front month (F1) and a back month (F2). The perpetual index rolls between them over a five-day window ending at options expiry. Examples: `BTC-USDC-2026-06-26` (F1), `BTC-USDC-2026-09-25` (F2). ### Options European-style options priced with Black-76 on each expiry's matching futures forward. Calls and puts across multiple expiries, cash-settled. ## Unified collateral Every product trades against the same USDC balance. When you open a BTC-PERP long and a BTC option position, the margin system nets them against each other. When you hold a BTC position and an ETH position, correlation credits reduce the combined requirement. ## Single login, full portfolio Sign in with your Ethereum wallet (SIWE). Your balance, open orders, positions, PnL, and trade history are consolidated in one portfolio view. Transfers between buckets (wallet, perps, options, spot) are instant. ## Programmable access Every account can mint scoped API keys: * **Read keys** — for analytics, dashboards, or monitoring. Data only. * **Trade keys** — for bots and execution systems. Data + order placement, cancellation, and transfers. Both key types support optional IP allowlisting and configurable expiry, and every use is recorded in a per-key audit trail. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://ocx.gitbook.io/ocx-doc/ocx/product/overview.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.