To enhance service quality and improve funding fee efficiency, OKX will implement adjustments to the order cancellation logic during funding fee collection across all perpetual contracts. These changes will be rolled out in four batches, while the calculation methodology for funding rates remains unaffected.
Key Changes in Funding Fee Mechanism
| Previous Logic | Updated Logic | |
|---|---|---|
| Platform Collects Funding Fees | Partial collection with potential order cancellations when margin insufficient | Full collection without order cancellations |
| Platform Distributes Funding Fees | Variable distribution based on counterparty deductions | Full distribution to respective accounts |
Detailed Breakdown
For Platform Fee Collection:
- Isolated Margin Mode: Fees now deducted directly from isolated position margin without order cancellations
- Cross Margin Modes (Spot/Contracts, Multi-Ccy, Portfolio Margin): Fees deducted from currency equity in cross account without order cancellations
For Fee Distribution:
- Isolated Margin: Fees credited to position margin
- Cross Margin Modes: Fees credited to currency equity in cross account
Implementation Schedule
👉 Track all perpetual contract updates live
Batch 1 (June 12, 2024 UTC+8)
| Contracts | |
|---|---|
| LINK-USD \ | LINK-USDT |
| LUNA-USDT \ | LUNC-USDT |
| SHIB-USDT |
Batch 2 (June 17, 2024 UTC+8)
| ALPHA-USDT | SUI-USDT | FIL-USDT | DYDX-USDT |
| API3-USDT | SWEAT-USDT | ETHFI-USDT | STRK-USDT |
(32 contracts total - see full list in original announcement)
Batch 3 (June 24, 2024 UTC+8)
103 contracts including:
- Major tokens: AAVE, ATOM, BCH, BNB
- Trending assets: BONK, PEPE, WIF
- Layer 2 tokens: ARB, OP, STRK
Batch 4 (July 1, 2024 UTC+8)
87 contracts covering:
- Bluechips: BTC, ETH, SOL
- Altcoins: AVAX, MATIC, XRP
- Meme coins: DOGE, SHIB
Transition Completion
After July 1, all perpetual contracts (including newly listed ones) will default to the new funding fee logic.
FAQ Section
Why is OKX changing the funding fee mechanism?
The update simplifies operations by removing conditional order cancellations during fee collection, creating a more predictable trading environment.
How will this affect my margin requirements?
While funding fees will still impact margin levels, the elimination of surprise order cancellations provides better position management clarity.
Where can I check my historical funding fees?
👉 Access funding fee records in your account dashboard
Key Benefits
- Reduced operational complexity
- More transparent fee accounting
- Elimination of unexpected order cancellations
- Consistent behavior across all perpetual contracts
OKX Team
June 7, 2024