OKX is enhancing its perpetual futures trading experience by introducing an updated funding rate formula. This change will be implemented in three phases starting April 10, 2025, ensuring a smooth transition for traders. Here’s everything you need to know about the update.
Key Dates for the Transition
The new funding rate formula will roll out in live trading across three batches:
- First Batch: April 10, 2025, 12:01 AM UTC
- Second Batch: April 17, 2025, 12:01 AM UTC
- Third Batch: April 24, 2025, 12:01 AM UTC
👉 Learn more about perpetual futures trading
Settlement Intervals and Implementation
The updated formula will affect perpetual futures contracts based on their settlement intervals:
8-Hour Settlement Interval
- Effective: 12:01 AM UTC
- First Funding Fee Update: 8:00 AM UTC
4-Hour Settlement Interval
- Effective: 12:01 AM UTC
- First Funding Fee Update: 4:00 AM UTC
2-Hour Settlement Interval
- Effective: 12:01 AM UTC
- First Funding Fee Update: 2:00 AM UTC
Note: Demo trading will adopt the new formula earlier, by March 19, 2025, 8:01 AM UTC.
Formula Changes Explained
The table below outlines the key differences between the original and new funding rate formulas:
| Parameter | Original Formula | New Formula |
|---|---|---|
| Funding Rate Formula | Clamp [MA (Premium index – Interest rate), Funding rate cap, Funding rate floor] | Clamp [Average premium index + Clamp (Interest rate – Average premium index, 0.05%, -0.05%), Funding rate cap, Funding rate floor] |
| Interest Rate | 0 | 0.03% / (24 / Settlement interval) |
| Premium Index | [(Best bid + Best ask) / 2 - Index price] / Index price | [Max (0, Impact bid price – Index price) – Max(0, Index price – Impact ask price)] / Index Price |
For a deeper dive into these changes, refer to OKX’s official documentation.
Affected Perpetual Futures
First Batch (April 10, 2025)
- LINKUSD
- LINKUSDT
- SHIBUSDT
- LUNAUSDT
- LUNCUSDT
Second Batch (April 17, 2025)
40 perpetual futures, including:
- TONUSD
- GRTUSDT
- SUSHIUSDT
- SANDUSDT
👉 Explore the full list of affected contracts
Third Batch (April 24, 2025)
232 perpetual futures, covering major tokens like:
- BTCUSDT
- ETHUSDT
- SOLUSDT
- XRPUSDT
After April 24, all perpetual futures (including newly listed ones) will follow the new formula.
FAQ Section
1. Why is OKX changing the funding rate formula?
The update aims to improve accuracy and fairness in funding fee calculations, aligning with market conditions and trader feedback.
2. Will demo trading be affected earlier?
Yes, demo trading will transition to the new formula by March 19, 2025.
3. How does the new interest rate work?
The interest rate is now 0.03% / (24 / Settlement interval). For example, an 8-hour interval translates to 0.01%.
4. Are all perpetual futures included?
Yes, after the third batch, all contracts (including future listings) will use the new formula.
5. Where can I find detailed documentation?
Visit OKX’s help center for comprehensive guides.
Final Notes
OKX remains committed to providing a seamless trading experience. These updates reflect our dedication to innovation and transparency. For further assistance, contact OKX support or join community discussions.
Last updated: March 14, 2025
OKX Team
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