OKX is upgrading its funding fee mechanism for perpetual futures contracts to improve efficiency and user experience. The changes will be implemented in four phases starting June 12, 2024, without altering the core funding rate calculation logic.
Key Changes to Funding Fee Collection
| Aspect | Before Update | After Update |
|---|---|---|
| Platform Fee Collection | Funding fees were deducted only up to the liquidation threshold (100% margin level). Partial/full liquidation followed if needed. | OKX will now deduct the full pending funding fee amount even if it exceeds the liquidation threshold (<100% margin level). Liquidation occurs only if balance remains insufficient. |
| Isolated Margin Mode | Prioritized transferable balance in cross-margin accounts (including auto-loaned crypto if enabled). Canceled isolated position orders if insufficient. | Deducts only from isolated position margin. No order cancellations during collection. |
| Cross Margin Modes | Canceled pending orders (spot/isolated/cross) if available margin was insufficient. | No order cancellations. Deducts directly from cross-margin capital, triggering liquidation only if needed. |
👉 Discover how these changes optimize your trading strategy
Funding Fee Distribution Updates
| Mode | Previous Method | New Method |
|---|---|---|
| Isolated Margin | Added to cross-margin capital regardless of position type. | Now credits directly to the isolated position’s margin balance. |
| Cross Margin | Distributed proportionally if collected fees were below expected. | Full amount distributed during settlement. Added to cross-margin capital. |
Implementation Timeline
Phase 1: June 12, 2024 (5 perpetual futures)
- LINK-USD, LINK-USDT, LUNA-USDT, LUNC-USDT, SHIB-USDT
Phase 2: June 17, 2024 (32 perpetual futures)
Includes:
– DOGE-USD/USDT, DOT-USD/USDT, PEPE-USDT, ETHFI-USDT, STRK-USDT
Phase 3: June 24, 2024 (103 perpetual futures)
Major tokens:
– AAVE-USDT, MATIC-USDT, XRP-USD/USDT, SOL-USDT, ADA-USDT
Phase 4: July 1, 2024 (87 perpetual futures + all remaining)
Covers:
– BTC-USD/USDT, ETH-USD/USDT, SOL-USD, TON-USDT, AVAX-USD/USDT
👉 See the full list of affected futures contracts
FAQ
Q: Will this affect my open positions?
A: Existing positions remain active. Changes only impact how funding fees are collected/distributed.
Q: What happens if my margin is insufficient post-deduction?
A: The system will attempt partial/full liquidation based on remaining collateral.
Q: Are funding rate calculations changing?
A: No, only the collection and distribution mechanics are being optimized.
Q: How does this benefit traders?
A: Reduces unnecessary order cancellations and streamlines margin management across isolated/cross positions.
Q: Where are isolated margin fees credited now?
A: Directly to the specific position’s margin balance instead of cross-margin capital.
The OKX team appreciates your continued trust and is committed to delivering industry-leading trading infrastructure. All perpetual futures (including new listings) will follow the new mechanism after July 1, 2024.