1. Overview
1.1 Service Description
The Expiry Futures Trading Service ("Service") is provided by OKX ("Platform," "we," "our," or "us") and governed by this Agreement.
1.2 Legal Binding Terms
This Agreement ("Terms") is legally binding between you ("User") and OKX. By accessing the Service, you confirm acceptance of all terms, including:
- Amendments made by OKX.
- Liability limitations and User rights clauses.
1.3 Included Documents
These Terms incorporate:
- OKX’s system specifications.
- Related agreements/rules (e.g., Terms of Service).
1.4 Entire Agreement
These Terms and User Agreements constitute the full agreement regarding Service use.
1.5 Superseding Clause
Conflicts between these Terms and OKX’s Terms of Service are resolved in favor of these Terms.
2. Eligibility
2.1 User Acknowledgments
You acknowledge that:
- You comply with OKX’s Terms of Service.
- You understand cryptocurrency risks and have financial maturity.
- Digital Assets in your account are legally sourced.
2.2 Prohibited Activities
You agree NOT to:
- Use the Service for illegal purposes (e.g., money laundering, fraud).
- Engage in market manipulation.
3. Risk Management
3.1 Risk Control Measures
OKX employs:
- Position limits.
- Margin requirements.
- Liquidation protocols.
3.2 Platform Rights
OKX may cancel orders/close positions if User actions pose systemic risks.
4. Using the Service
4.1 Margin Trading
- Deposit Digital Assets/Fiat as collateral ("Margin").
- Borrow assets for Expiry Futures Trading.
4.2 Order Execution
- Orders are irrevocable once filled.
- Real-time position updates provided.
4.3 Interest Calculation
Hourly interest accrues on borrowed assets.
👉 Interest Calculation Details
4.4 Contract Delivery
- Weekly futures auto-closed at 08:00 UTC Friday.
- Settlement price: BTC/USDT 1-hour arithmetic mean.
4.5 Daily Settlement (ETH/BTC Contracts)
- Cross-margin positions settled daily at 8am UTC.
- No fees; position size unchanged.
5. Repayment
5.1 Repayment Flexibility
Repay borrowed assets + interest anytime.
5.2 Margin Release
Full repayment unlocks Margin.
5.3 Service Termination
OKX deducts owed amounts from Margin upon termination.
6. Security Interests
6.1 Margin as Security
Margin secures User obligations.
6.2 First-Priority Lien
OKX holds a lien over Margin assets.
7. User Warranties
7.1 Representations
You warrant:
- Margin is unencumbered.
- No sanctions list involvement.
7.2 Breach Consequences
Losses from breaches are User-liable.
8. Limitation of Liability
8.1 Risk Disclosure
- No warranties: Service provided "AS IS."
- Market risks: Volatility may cause total loss.
8.2 Force Majeure
OKX not liable for:
- Hacks, telecom failures.
- Government actions/terrorism.
9. Indemnification
9.1 User Responsibility
Hold OKX harmless for damages from Service misuse.
9.2 Third-Party Claims
Cover OKX’s legal fees from your breaches.
10. Governing Law
- Jurisdiction: English/Welsh law.
- Disputes: HKIAC mediation → Arbitration (3 arbitrators, Hong Kong seat).
FAQ
Q1: How is interest calculated for Margin Trading?
A1: Accrued hourly based on Interest Calculation rules.
Q2: What happens if my position is liquidated?
A2: OKX sells Margin assets to cover deficits; you bear shortfalls.
Q3: Can OKX amend these Terms?
A3: Yes, with notice via email/website updates.
This Agreement is final as of March 22, 2025. Refer to OKX Terms for updates.