OKX launched “Nitro spreads,” an option on its institutional liquid over-the counter (OTC), which allows traders to execute complex basis trades with just one click.

Basis trading is the act of trading the price difference between two markets to try to make a profit. For example, trading a difference in the spot market versus the futures market. OKX’s Nitro Spread automates the trade with just one click. The company said that traders can use this feature on any combination of futures, perpetual contracts and spot contracts listed at the exchange.

Lennix lai, chief commercial officer of OKX, said that in the current market environment, trading venues must offer institutions reliability, predictability and innovation. This is particularly true in basis-trading, where flawless execution and precision are essential,” he said.

According to a press release, Nitro Spread is the only crypto basis trading tool where two legs are executed through a central orderbook. Traders can choose a fixed spread before making a trade to reduce price slippage.

Lai said that traders can place orders for resting with a fixed margin – and not worry about an immediate execution. “If the spread actually moves against their chosen one, their orders remain passive and will not be executed,” said Lai.

He continued, “Spread book prices are more stable than outright order books because the instruments are delta-neutral.” “We work with a range of liquidity providers to make sure that our users are able to trade effectively and benefit from spreads.”

The press release stated that traders can also implement popular delta-one spread strategies such as calendar spreads and future rolls, or funding rate farming.

In May, the exchange launched Nitro Spreads as a Preview.

Stephen Alpher edited the book.