We've Launched the Industry's First 'Hybrid Spreads' Orderbooks for Cross-Currency Arbitrage Trading, Tailored for Market-Neutral Funds
Today, we're happy to announce the launch of our 'Hybrid Spreads' orderbooks, which enable professional traders and asset managers to execute spread trades between legs of different margin currencies from a single orderbook with zero leg risk and margin efficiencies gained from a delta-hedged atomic execution.
This addition to Nitro Spreads, a venue within our Liquid Marketplace for executing basis, futures spreads and funding rate arbitrage strategies, is the first of its kind in the industry and opens up new trading opportunities for institutional traders.
Exclusively available on our Nitro Spreads platform, Hybrid Spreads enables users to execute trades between legs with varying collateral currencies in a single execution, rather than multiple ones. For example, with Hybrid Spreads, users can hold an offsetting long BTC spot position and short BTC crypto-margined perpetual futures to accumulate funding payments in Bitcoin.
The innovative Hybrid Spreads unlocks advanced yield harvesting and arbitrage strategies, such as cross-margin funding rate arbitrage and basis trading, between major crypto perpetual futures. Additionally, implementing this functionality through Nitro Spreads enhances the marketplace experience - for both market makers and asset managers - by:
Eliminating leg risk through atomic execution
Reducing slippage with spread price limit orders
Offering greater liquidity due to portfolio margin efficiencies realized via spread orders versus individual orders
These benefits come without sacrificing execution certainty, pricing or composability of a portfolio, making Nitro Spreads a leading choice for advanced trading strategies.
We offer a range of trading solutions, such as the Liquid Marketplace platform, which includes Nitro Spreads, providing unmatched liquidity and adaptability for institutions. Moreover, we're continuously broadening our suite of institutional offerings and features. For example, we recently introduced a new 'Quick Trading' mode on Nitro Spreads, enabling users to instantly select the 'Top of Book' on any spread/side through a double-click, thereby eliminating the need to manually open order books or enter details.
This announcement follows the launch of our inaugural 'Institutional Basis Trading Report.' The report analyzes the institutional basis trading landscape and strategies, as well as drivers behind the nearly 30% Ethereum (ETH) and Bitcoin (BTC) annualized basis observed towards the end of March 2024.
For more information, please visit the Support Center.
© 2025 OKX. Bài viết này có thể được sao chép hoặc phân phối toàn bộ, hoặc trích dẫn các đoạn không quá 100 từ, miễn là không sử dụng cho mục đích thương mại. Mọi bản sao hoặc phân phối toàn bộ bài viết phải ghi rõ: “Bài viết này thuộc bản quyền © 2025 OKX và được sử dụng có sự cho phép.” Nếu trích dẫn, vui lòng ghi tên bài viết và nguồn tham khảo, ví dụ: “Tên bài viết, [tên tác giả nếu có], © 2025 OKX.” Một số nội dung có thể được tạo ra hoặc hỗ trợ bởi công cụ trí tuệ nhân tạo (AI). Nghiêm cấm các tác phẩm phái sinh hoặc hình thức sử dụng khác đối với bài viết này.
Bài viết liên quan
Xem thêm
