Understanding OKX Perpetual Contracts
OKX (formerly OKEx) offers advanced cryptocurrency derivatives trading through its perpetual contracts system. Unlike traditional futures with expiration dates, perpetual contracts allow traders to hold positions indefinitely while paying or receiving periodic funding fees.
Core Features of OKX Contracts:
- 24/7 trading availability
- Competitive fee structure (0.015%-0.05%)
- Multiple settlement options
- Real-time profit/loss tracking
👉 Start trading perpetual contracts on OKX today
Step-by-Step Trading Process
1. Account Setup
First, create and verify your OKX account. The platform requires basic KYC verification for security purposes.
2. Fund Transfer
Navigate to the "Assets" section and transfer funds between your:
- Main wallet (storage)
- Trading account (active positions)
3. Selecting Your Contract
- Access the trading interface via [Trade] > [Leverage Contracts]
- Search for your desired cryptocurrency pair (e.g., BTC-USDT)
Choose between:
- Inverse contracts (collateral in crypto)
- Linear contracts (collateral in stablecoins)
4. Placing Orders
When ready to trade:
- Select Buy/Long (bullish) or Sell/Short (bearish)
- Choose order type (Market/Limit/Stop)
- Set your position size and leverage (up to 125x)
- Confirm the trade
5. Position Management
Monitor open positions in the [Positions] tab, where you can:
- View unrealized P&L
- Adjust take-profit/stop-loss
- Close positions manually
Trading Costs Breakdown
Fee Structure
| Order Type | Maker Fee | Taker Fee |
|---|---|---|
| Standard | 0.02% | 0.05% |
| VIP 1 | 0.015% | 0.03% |
Funding Rates
Calculated every 8 hours (04:00, 12:00, 20:00 UTC):
- Paid between long/short positions
- Typically ±0.01% but can reach ±0.375%
- Formula: Funding Rate = Clamp(MA((Premium Index)), -0.375%, +0.375%)
👉 Calculate your potential trading costs
Profit Calculation Methods
Realized P&L
For Long Positions:
= (Contract Size / Entry Price) - (Contract Size / Exit Price) × Position Size
For Short Positions:
= (Contract Size / Exit Price) - (Contract Size / Entry Price) × Position Size
Unrealized P&L
Updates continuously based on current mark price:
Long: (Contract Value / Entry) - (Contract Value / Current Price)
Short: (Contract Value / Current Price) - (Contract Value / Entry)
Minimum Investment Requirements
OKX doesn't enforce strict minimums, but practical limits apply:
- BTC Contracts: ~$10 equivalent
- Altcoin Contracts: As low as $1
Actual minimum depends on:
- Contract specifications
- Current asset prices
- Selected leverage
FAQ Section
Q: What's the difference between perpetual and quarterly contracts?
A: Perpetuals have no expiry but require funding payments, while quarterly contracts settle on specific dates without funding fees.
Q: How does leverage affect my position?
A: Higher leverage amplifies both profits and losses while reducing the margin required to open positions.
Q: When are funding payments exchanged?
A: Every 8 hours at 04:00, 12:00, and 20:00 UTC for perpetual contracts only.
Q: Can I trade contracts without KYC?
A: OKX requires basic identity verification for contract trading to comply with global regulations.
Q: What happens if my position gets liquidated?
A: The exchange automatically closes your position when maintenance margin isn't met, with possible partial loss beyond your initial margin.
Q: How do I reduce trading fees?
A: Hold OKB tokens, achieve VIP status through trading volume, or consistently provide liquidity (maker orders).