To provide a better trading experience and improve funding fee payment efficiency, OKX is updating its order cancellation logic during funding fee payments across four phases for all perpetual futures contracts. The funding rate calculation logic remains unchanged.
Key Changes in Funding Fee Mechanism
Platform Funding Fee Collection
| Before Update | After Update | |
|---|---|---|
| Isolated Margin Mode | Funding fees deducted from transferable balance in cross-margin account. Insufficient balance cancels open orders. | Funding fees collected only from isolated position margin balance. No order cancellations; partial/full liquidation if needed. |
| Cross Margin Mode (Single-currency, Multi-currency, Portfolio Margin) | Fees deducted from cross-margin equity. Pending orders reducing adjusted equity get canceled. | Fees collected from cross-margin equity. No order cancellations; liquidation initiated if equity insufficient. |
Platform Funding Fee Distribution
| Before Update | After Update | |
|---|---|---|
| Distribution Amount | Proportional to collectible fees. Lower-than-expected collections reduce user distributions. | Full amount distributed during payment. |
| Credit Method | Added to cross-margin equity regardless of position type. | Isolated positions: added to position margin balance. Cross positions: added to cross-margin equity. |
Implementation Timeline
Phase 1 (June 12, 2024, 13:00 Vietnam Time)
5 perpetual futures contracts:
- LINK-USD, LINK-USDT
- LUNA-USDT, LUNC-USDT
- SHIB-USDT
Phase 2 (June 17, 2024, 13:00 Vietnam Time)
32 contracts including:
- ALPHA-USDT, SUI-USDT
- FIL-USD, FIL-USDT
- DOGE-USD, DOGE-USDT
- [View full list...]
Phase 3 (June 24, 2024, 13:00 Vietnam Time)
103 contracts including:
- AAVE-USDT, ATOM-USDT
- XRP-USD, XRP-USDT
- SOL-USDT, SOL-USD
- [View full list...]
Phase 4 (July 1, 2024, 13:00 Vietnam Time)
87 contracts including:
- BTC-USD, BTC-USDT
- ETH-USD, ETH-USDT
- AVAX-USDT, AVAX-USD
- [View full list...]
👉 Track real-time updates on OKX's funding fee changes
FAQs
Q: Will the funding rate calculation formula change?
A: No. Only the payment collection and distribution logic are updated.
Q: How does this affect my existing positions?
A: Positions remain unaffected unless margin balances become insufficient, triggering liquidation protocols.
Q: Where can I check the new funding fee schedules?
A: Visit OKX's official announcement page or your trading dashboard.
Q: Are newly listed perpetual contracts included?
A: Yes. After July 1, all perpetual contracts follow the updated mechanism.
Q: What happens if my account lacks sufficient margin during fee collection?
A: The system will attempt partial/full liquidation instead of canceling orders.
Conclusion
This upgrade ensures smoother funding fee transactions while maintaining fair distributions. Traders benefit from reduced order cancellations and more predictable fee handling.
👉 Explore OKX's perpetual futures trading today
OKX Team
June 7, 2024