OKX is enhancing its trading services by transitioning from cross-period to current-period funding fee collection for specific perpetual contracts. This update aims to provide greater transparency and real-time accuracy in fee calculations.
Key Changes to Funding Fee Mechanism
Previous Collection Method (Cross-Period)
- Funding fees were calculated using the funding rate from the previous funding period
- Example: An 8:00 am UTC+8 collection used rates based on premium index data from 4:00 pm UTC+8 (previous day) to 12:00 am UTC+8
New Collection Method (Current-Period)
- Funding fees now use the current funding period's rate
- Example: An 8:00 am UTC+8 collection uses data from 12:00 am UTC+8 to 8:00 am UTC+8
- Rates may fluctuate until collection time, requiring dynamic position management
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Implementation Timeline
| Contract Type | Effective Date | Affected Contracts |
|---|---|---|
| USDT Margined | January 4, 2024 | FLOWUSDT |
| USDT Margined | January 10, 2024 | SOLUSDT, TRBUSDT, XRPUSDT, BCHUSDT, WLDUSDT |
Other contracts will transition based on market conditions, with separate announcements.
Funding Fee Collection Comparison
| Collection Time | Rate Calculation Period | Collection Type |
|---|---|---|
| Jan 3, 2024 4:00 pm UTC+8 | Jan 3 12:00 am - 8:00 am UTC+8 | Cross-period |
| Jan 4, 2024 12:00 am UTC+8 | Jan 3 4:00 pm - Jan 4 12:00 am UTC+8 | Current-period |
| Jan 4, 2024 8:00 am UTC+8 | Jan 4 12:00 am - 8:00 am UTC+8 | Current-period |
API Updates
- New methods to differentiate collection types
nextFundingRatereturns null for current-period contracts- Detailed API documentation
Market Monitoring
OKX may adjust collection frequency (from 8 hours to as little as 1 hour) for altcoins with volatile premium indexes, with separate notifications.
Trading Recommendations
- Consider closing positions before funding intervals to avoid charges
- Contracts using current-period collection will display a lighting icon
FAQ
Why is OKX changing the funding fee mechanism?
To provide more accurate, real-time fee calculations that better reflect current market conditions.
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How will this affect my existing positions?
Your positions remain active, but funding costs may change based on current-period calculations rather than historical rates.
Can I opt out of this change for specific contracts?
No, this is a platform-wide update applied contract-by-contract based on the announced schedule.
Where can I see which collection method a contract uses?
Contracts using current-period collection will display a lighting icon next to their funding rate.
Will OKX make further changes to funding intervals?
Yes, the exchange may adjust intervals (1-8 hours) for highly volatile contracts with proper notification.
OKX remains committed to providing transparent, efficient trading services. We appreciate your trust and welcome feedback as we implement these improvements.