OKX has launched a public beta for Onchain Spot and Perps inside its app, according to The Defiant. Eligible users can use free XP points to simulate trades tied to stock, index and commodity markets as the exchange prepares for a later rollout of real-money trading.
The paper trading competition shares a 250,000 USDT prize pool with Outcomes Season 3. It runs from 10:00 p.m. Eastern Time on Oct. 14 to 11:00 a.m. Eastern Time on Nov. 14. OKX said XP carries no cash value and cannot be withdrawn, transferred between accounts, or exchanged for financial instruments.
Initial simulated markets
The first simulated markets cover gold, the S&P 500 ETF, and themes linked to SpaceX and Nvidia. Spot and perpetual contracts are listed as separate trading pairs. Participants are testing trading strategies rather than buying shares in those companies.
Eligibility and account setup
OKX said eligible customers are from Southeast Asia, Northeast Asia, the Commonwealth of Independent States, and the Middle East and North Africa. Users must complete identity verification and open a dedicated onchain account with a passkey through their existing OKX account.
Venue structure and settlement
The venue runs on Exchange OS, which is built on X Layer. OKX describes the account as self-custodial. It supports a unified balance across spot, perpetuals and Outcomes, and lets spot and perpetual markets share margin without requiring internal transfers between product accounts.
OKX said real-money trading will open after the competition ends. Users will be able to fund their onchain accounts from their OKX exchange accounts, while spot and perpetual positions will settle onchain in USDS. XP earned during the event and simulated positions will not convert into real-money positions.