What Are Perpetual Futures?
Perpetual futures are derivatives that track the price of an underlying asset, similar to expiry futures and options. Unlike traditional futures, perpetual futures have no expiration date, allowing buyers and sellers to hold positions indefinitely—provided their account maintains sufficient margin.
Key features of perpetual futures include:
- No expiration date: Positions can remain open indefinitely.
- Funding rate mechanism: Ensures price convergence with the underlying asset's spot price by exchanging fees between long and short parties every 8 hours.
- Settlement in digital assets: OKX perpetual futures are settled in cryptocurrencies like BTC or stablecoins like USDT (for crypto- and USDT-margined contracts, respectively).
Step-by-Step Guide to Trading Perpetual Futures
1. Navigate to the Perpetual Futures Section
- Web: On the OKX homepage, select Trade > Perpetual Futures from the top menu.
- Mobile App: Tap Trade in the bottom navigation, then select Perpetual.
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2. Fund Your Trading Account
Transfer funds from your OKX funding account to your trading account:
- Go to Assets > Transfer.
- Select the currency (e.g., USDT) and amount.
- Confirm the transfer.
3. Select a Contract
- Margin Type: Choose between Crypto-Margined (settled in crypto) or USDT-Margined (settled in USDT).
- Trading Pair: Filter by category (e.g., Top, DeFi, Alts) or search for specific assets (e.g., BTCUSDT Perp).
4. Set Leverage and Margin Mode
- Isolated Margin: Uses only designated funds as collateral.
- Cross Margin: Uses your entire account balance as collateral.
- Adjust leverage (e.g., 10x–100x) based on risk tolerance.
5. Place an Order
- Select Order Type (Limit, Market, Stop-Loss, etc.).
- Enter Price and Amount.
- Click Buy (Long) or Sell (Short).
- Optional: Set Take-Profit (TP) or Stop-Loss (SL).
6. Monitor and Close Positions
- View open positions under Positions.
- Close a position manually by entering a price/amount or using MKT Close All for instant exit.
Key Features of OKX Perpetual Futures
- Real-time Data: Track funding rates, liquidation history, and position tiers via the Information dashboard.
- Low Fees: Competitive taker/maker fees; discounts for high-volume traders.
- Multi-Currency Support: Trade BTC, ETH, SOL, and 100+ other pairs.
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FAQs
1. What’s the difference between perpetual and expiry futures?
Perpetual futures lack an expiration date and use funding rates to align with spot prices, while expiry futures settle on a fixed date.
2. How often is the funding rate applied?
Every 8 hours, based on market conditions.
3. Can I trade perpetual futures with USDT?
Yes. OKX offers USDT-margined contracts settled in USDT.
4. What’s the minimum leverage for perpetual futures?
Leverage starts at 1x (varies by trading pair).
5. How do I avoid liquidation?
Monitor margin levels and use stop-loss orders.
6. Are perpetual futures suitable for beginners?
Yes, but start with low leverage and practice risk management.
Pro Tips
- Use limit orders to reduce trading fees.
- Cross-margin mode minimizes liquidation risk during volatility.
- Leverage OKX’s demo trading to test strategies risk-free.
Ready to dive in? 👉 Trade perpetual futures on OKX