OKX is enhancing its perpetual contracts by transitioning from cross-period to current-period funding fee collection. This update aims to provide traders with a more transparent and responsive fee structure.
Key Changes in Funding Fee Mechanism
Previous System (Cross-Period Collection)
- Funding fees were calculated based on the funding rate from the previous collection period
- Example: The 8:00 AM (UTC+8) fee used rates from 4:00 PM (UTC+8) to 12:00 AM (UTC+8) of the prior day
New System (Current-Period Collection)
👉 Discover how OKX's new funding system benefits traders
- Fees now reflect real-time market conditions using rates from the current collection window
- Example: 8:00 AM (UTC+8) fees use rates from 12:00 AM (UTC+8) to 8:00 AM (UTC+8) of the same day
- Rates remain variable until the collection time, allowing for more dynamic position management
Implementation Timeline
The update will occur in phases, with the final batch scheduled for February 21, 2024 (00:00 UTC+8).
Affected Contracts
USDT-Margined Perpetual Contracts (10)
- BTCUSDT
- ETHUSDT
- ORDIUSDT
- SUIUSDT
- TIAUSDT
- BNBUSDT
- BLURUSDT
- OPUSDT
- ETCUSDT
- PEOPLEUSDT
Coin-Margined Perpetual Contracts (5)
- BTCUSD
- ETHUSD
- FILUSD
- SOLUSD
- DOGEUSD
Technical Transition Details
| Collection Time (UTC+8) | Premium Calculation Period | Fee Type |
|---|---|---|
| Feb 20, 4:00 PM | Feb 20, 12:00 AM - 8:00 AM | Cross-period |
| Feb 21, 12:00 AM | Feb 20, 4:00 PM - Feb 21, 12:00 AM | Current-period |
| Feb 21, 8:00 AM | Feb 21, 12:00 AM - 8:00 AM | Current-period |
| Feb 21, 4:00 PM | Feb 21, 8:00 AM - 4:00 PM | Current-period |
API Updates
👉 Learn about OKX's developer-friendly API changes
The funding rate interfaces now include:
- New fields identifying collection methods
- Modified behavior for
nextFundingRate(returns null for current-period contracts)
Trading Considerations
- Strategy Impact: The change may affect funding-rate-dependent strategies
- Rate Indicators: Current-period contracts will display a lightning bolt icon
- Fee Avoidance: Close positions before funding windows to skip fee payments
FAQ
Q: Why is OKX changing the funding fee system?
A: The update provides more accurate pricing by reflecting real-time market conditions rather than delayed rates.
Q: How will this affect my existing positions?
A: All positions will automatically transition to the new system—no action required unless adjusting strategies.
Q: Where can I see which contracts have changed?
A: Check the official OKX announcement page or look for the lightning bolt icon in your contract list.
Q: Are there any API documentation updates?
A: Yes, developers should review the updated API documentation at OKX's developer portal.
Q: Will the funding fee payment times change?
A: No, the 8-hour collection intervals remain unchanged—only the rate calculation method differs.
Q: How can I optimize my strategy for the new system?
A: Monitor rate fluctuations more closely and consider position timing relative to funding windows.