Introduction
OKX is upgrading its funding fee mechanism for perpetual futures contracts to provide traders with a smoother experience and more efficient fee settlements. This phased rollout will implement new order cancellation logic without altering the core funding rate calculation methodology.
Key Changes to Funding Fee Mechanism
Before vs. After the Update
| Aspect | Previous System | New System |
|---|---|---|
| Platform Fee Collection | Collected up to liquidation threshold (100% margin level) | Full pending funding fees collected regardless of margin level |
| Isolated Margin Mode | Deducted from cross margin transferable balance first | Directly deducted from position margin balance |
| Cross Margin Modes | Orders canceled if insufficient available margin | No order cancellations during collection |
| Fee Distribution | Proportional distribution based on collected amount | Full amount distributed during settlement |
Implementation Timeline
Phase 1: June 12, 2024 (6:00 UTC)
5 perpetual futures:
- LINK-USD
- LINK-USDT
- LUNA-USDT
- LUNC-USDT
- SHIB-USDT
Phase 2: June 17, 2024 (6:00 UTC)
32 perpetual futures including:
| ALPHA-USDT | SUI-USDT | FIL-USDT |
| API3-USDT | METIS-USDT | ETHFI-USDT |
| DOGE-USD | PEPE-USDT | STRK-USDT |
Phase 3: June 24, 2024 (6:00 UTC)
103 perpetual futures including major tokens:
| AAVE-USDT | MATIC-USDT | XRP-USDT |
| ATOM-USDT | INJ-USDT | SOL-USDT |
| BNB-USDT | TRX-USDT | UNI-USDT |
Phase 4: July 1, 2024 (6:00 UTC)
87 perpetual futures covering:
| BTC-USDT | ETH-USDT | AVAX-USDT |
| ADA-USDT | SOL-USD | OP-USDT |
| ARB-USDT | TON-USDT | WLD-USDT |
👉 Discover how OKX's new funding mechanism benefits traders
FAQ Section
Why is OKX changing its funding fee mechanism?
The upgrade improves settlement efficiency and reduces unnecessary order cancellations during funding fee collection periods.
Will this affect my existing positions?
Your positions remain unchanged - only the fee collection process is being optimized for better user experience.
How does the new system benefit traders?
By eliminating precautionary order cancellations, traders maintain their intended positions while the platform handles margin adjustments more intelligently.
When will all perpetual contracts transition?
All perpetual futures (including newly listed ones) will follow the new mechanism after July 1, 2024.
Where can I learn more about margin trading on OKX?
👉 Explore OKX's advanced trading features including isolated and cross margin modes.
Conclusion
This enhancement demonstrates OKX's commitment to optimizing trading infrastructure. The phased implementation ensures smooth transition while maintaining market stability. Traders can expect more reliable funding fee processing with minimal operational disruption.
OKX Trading Team
June 7, 2024