[guided]The exponential series $\exp(x) = \sum_{n=0}^\infty x^n/n!$ involves factorials, and the $p$-adic valuation of $n!$ is the decisive quantity. Unlike the logarithm, where the denominator $n$ has slowly growing valuation, the factorial $n!$ has valuation growing linearly in $n$, creating a race between $v(x^n) = n \cdot v(x)$ and $v(n!)$.
**Legendre's formula.** The $p$-adic valuation of $n!$ is given by
\begin{align*}
v_p(n!) = \sum_{k=1}^\infty \left\lfloor \frac{n}{p^k} \right\rfloor = \frac{n - s_p(n)}{p-1},
\end{align*}
where $s_p(n)$ is the digit sum of $n$ in base $p$. This is a classical result proved by counting the multiples of $p$, $p^2$, $p^3$, etc., up to $n$.
**The critical threshold.** Since $s_p(n) \geq 1$ for $n \geq 1$, we have $v_p(n!) \leq (n-1)/(p-1)$. More usefully, $v_p(n!)/n \to 1/(p-1)$. So the $n$-th term of the exponential has valuation
\begin{align*}
v\!\left(\frac{x^n}{n!}\right) = n \cdot v(x) - \frac{n - s_p(n)}{p-1} = n\!\left(v(x) - \frac{1}{p-1}\right) + \frac{s_p(n)}{p-1}.
\end{align*}
For this to tend to $+\infty$, we need the dominant term $n(v(x) - 1/(p-1))$ to be eventually positive, which requires $v(x) > 1/(p-1)$, i.e., $|x| < p^{-1/(p-1)}$.
**Image in $\mathcal{O}_K$.** When $v(x) > 1/(p-1)$, the entire Witt expansion of each term satisfies $v(x^n/n!) \geq 0$: indeed, $n \cdot v(x) \geq n/(p-1) > (n - s_p(n))/(p-1) = v_p(n!)$ since $s_p(n) \geq 1$. So every partial sum lies in $\mathcal{O}_K$, and the limit $\exp(x)$ lies in $\mathcal{O}_K$.
**Why the radius is $p^{-1/(p-1)}$ and not $1$.** Unlike the logarithm, the exponential's denominator $n!$ has valuation growing as $n/(p-1)$, not sublinearly. The "cost" of dividing by $n!$ is roughly $n/(p-1)$ in valuation, which must be exceeded by the "gain" $n \cdot v(x)$. This forces $v(x) > 1/(p-1)$, a strictly smaller disc than $v(x) > 0$.[/guided]