OKX is a globally recognized digital asset exchange offering a wide array of services, including spot trading, contract trading, ETT portfolio trading, and OTC trading. It supports numerous mainstream cryptocurrencies and is accessible via web, mobile, and PC clients.
This guide details how trading fees for contracts are calculated on the platform, covering formulas, rates, key concepts, and more.
How Contract Trading Fees Are Calculated
OKX classifies users as either Regular or Professional based on their trading volume. Regular users are tiered according to their OKB holdings, while Professional users are categorized by their asset size and trading volume over the past 30 days. Each tier determines the next day's trading fees, which differ for makers (who provide liquidity) and takers (who take liquidity).
When determining the fee tier, the platform considers the user's spot trading volume, perpetual and delivery contract volume (including USDT and USDC margined contracts, as well as coin-margined contracts), options volume, spread strategy volume, and asset size. The user enjoys the highest fee discount among all eligible tiers.
For instance, if a user's 30-day spot volume qualifies them for VIP 2, their contract volume for VIP 3, options for VIP 1, spread strategies for VIP 2, and assets for VIP 4, they will receive the VIP 4 fee discount across all services.
Fee Calculation Formulas
For a user at Level 1, the taker fee is 0.05%, and the maker fee is 0.02%.
For Coin-Margined Contracts:
- Opening Fee = (Contract Face Value × Number of Contracts / Opening Price) × Fee Rate
- Closing Fee = (Contract Face Value × Number of Contracts / Closing Price) × Fee Rate
For USDT-Margined Contracts:
- Opening Fee = (Contract Face Value × Number of Contracts × Opening Price) × Fee Rate
- Closing Fee = (Contract Face Value × Number of Contracts × Closing Price) × Fee Rate
Example 1 (Coin-Margined): Opening a BTC contract with a price of 10,000 for 100 contracts as a taker at Level 1. Fee = 100 × 100 / 10,000 × 0.0005 = 0.0005 BTC.
Example 2 (USDT-Margined): Opening a BTC contract at 10,000 for 100 contracts as a taker at Level 1. Fee = 100 × 0.01 × 10,000 × 0.0005 = 5 USDT.
Fee Rates
Fee rates vary by cryptocurrency and contract type. For perpetual contracts, major coins like BTC, ETH, and LTC have specific maker and taker rates. These rates are periodically updated, so it's essential to 👉 check the latest fee schedule for the most current information.
Key Concepts Explained
Understanding these terms is crucial for accurate fee calculation and account management.
OKB Total Holdings
This refers to the total OKB held across a user's master and sub-accounts, including funding, spot, and margin accounts. Assets in savings products are not included.
Master and Sub-Accounts
The master account's fee level is based on the combined 30-day trading volume of all linked accounts and the total OKB holdings. Sub-accounts inherit the master account's fee level at 24:00 UTC+8 on the day they are created.
30-Day Trading Volume
The platform calculates the 30-day trading volume for contracts by converting all trades into BTC based on their USD value at the time of trade. This BTC amount is then converted to USD using the daily average BTC/USD price (average of open and close). The cumulative volume is updated daily at 00:00 UTC.
Maker vs. Taker
A maker places an order that doesn't immediately match with an existing order, adding it to the order book. If another user matches this order later, the maker pays the maker fee. A taker places an order that matches immediately with an existing order on the book, paying the taker fee.
Liquidation
Liquidation fees are charged at the user's current taker fee rate.
Daily Withdrawal Limit
Withdrawal limits are set based on the user's fee tier and identity verification level. All withdrawals are converted to USD, and the total must not exceed the daily limit for that tier. For example, a basic verified account might have a 300 USD limit. If a user withdraws 250 USDT, 25 USD worth of OMG, and 15 USD worth of XRP, they have used 290 USD of their limit, leaving 10 USD. Attempting to withdraw another 20 USD would be rejected. Higher limits may be requested via customer support.
Historical OKX Contract Fee Structure
Previously, perpetual contract fees on OKX ranged from 0.02% to 0.015% for makers and 0.05% to 0.03% for takers.
Funding fees were charged every 12 hours at 10:00 and 22:00 UTC+8 after settlement, applicable only to positions held at those times. The funding rate was calculated based on the difference between the contract's mark price and the spot index price, clamped between -0.25% and 0.25%.
Realized and Unrealized P&L
Realized P&L is the profit or loss from closed positions.
- For Buy Positions: Realized P&L = (Face Value / Settlement Price – Face Value / Average Closing Price) × Closed Quantity
- For Sell Positions: Realized P&L = (Face Value / Average Closing Price – Face Value / Settlement Price) × Closed Quantity
Unrealized P&L reflects the profit or loss on open positions.
- For Long Positions: Unrealized P&L = (Face Value / Settlement Price – Face Value / Mark Price) × Open Quantity
- For Short Positions: Unrealized P&L = (Face Value / Mark Price – Face Value / Settlement Price) × Open Quantity
OKX Contract Trading Tutorial
- Log in to your OKX account and navigate to 'Trade' > 'Margin & Contract Trading'.
- Transfer funds from your 'Funding Account' to your 'Trading Account'.
- Select your desired currency pair and contract type.
- Choose between cross-margin or isolated margin. Place a buy (long) or sell (short) order.
- Monitor open positions under the 'Positions' tab. Close positions when desired.
- Check your margin ratio in the 'Assets' section while holding a position.
Spot Trading Fee Calculation
Spot trading fees are calculated similarly, based on user tier, OKB holdings, 30-day volume, and asset size.
Key Differences for Spot
- OKB Holdings: Includes OKB in master and sub-accounts' funding, trading, and finance accounts (excluding savings products).
- 30-Day Volume: Calculated by converting all spot trades to BTC, then to USD using the daily average BTC/USD rate.
- Asset Size: Based on the higher value between the 30-day average asset size and the snapshot at 00:00 UTC+8. Assets include those in trading, funding, and finance accounts, excluding borrowed funds.
- Fee Calculation: Spot/Margin Fee = Fee Rate × Quantity of Coin Bought or Sold.
- Negative Maker Fees: Some high-tier users receive rebates for maker orders, effectively negative fees.
24-Hour Withdrawal Limit
Calculated daily at 00:00 UTC+8 based on the fee tier and verification level. All coins are converted to USD against the limit.
Frequently Asked Questions
How often are fee tiers updated?
Fee tiers are typically updated daily between 04:00 and 06:00 UTC+8 based on the previous day's data.
Can I reduce my trading fees?
Yes, by increasing your OKB holdings, 30-day trading volume, or total assets, you can qualify for a higher tier with lower maker/taker fees.
What is the difference between maker and taker fees?
Maker fees are typically lower (or even negative) for adding liquidity to the order book. Taker fees are higher for removing liquidity by matching existing orders.
Are funding fees the same as trading fees?
No. Funding fees are periodic payments between long and short positions to balance the contract price with the spot index. Trading fees are charged per trade.
How is the 30-day trading volume calculated for multiple accounts?
For fee tier purposes, the volume from all master and sub-accounts is combined into a single total.
What happens if I exceed my daily withdrawal limit?
Any withdrawal request that would exceed your USD-converted limit will be rejected. You must wait for the next 24-hour cycle or contact support for a limit increase.