To prevent excessive market risk concentration among a small group of traders and deter market manipulation, OKX implements position limits for users' single-contract holdings relative to the platform's total open interest.
Scope & Impact
Applicable Contracts: Perpetual and delivery contracts.
Effect: For any specific contract, if a single user's (including master and sub-accounts) open orders and positions exceed:
- A percentage threshold of the platform’s total open interest, and
- A maximum position value cap,
the system will trigger position limits. New opening orders will be rejected, while closing orders remain unaffected.
Detailed Rules
A user’s unilateral (long/short) position value (USD) must not exceed:
max(Total Open Interest × Position Threshold, Maximum Position Value) Example:
- Position Threshold = 20%
- Maximum Position Value = 250,000 USD
Scenario 1:
- Total Open Interest = 500,000 USD
- Limit = max(500,000 × 20%, 250,000) = 250,000 USD
Scenario 2:
- Total Open Interest = 20,000,000 USD
- Limit = max(20,000,000 × 20%, 250,000) = 4,000,000 USD
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Key Parameters
| Parameter | Scope | Description | Default Value (Varies by Contract) |
|-------------------------|------------|--------------------------------------|------------------------------------|
| Position Threshold | Per Contract | Max allowed user position % of total | 30% |
| Maximum Position Value | Per Contract | Absolute cap in USD | 250,000 USD |
Note:
- Applies to all contract types (USDT/USDC/margin contracts).
- Long/short positions are calculated separately.
FAQs
Q1: Can I increase my position limit?
A: Limits are fixed per contract but scale with total market open interest.
Q2: Do limits apply to closing positions?
A: No. Only new opening orders are restricted.
Q3: How often are thresholds updated?
A: Parameters may adjust with market conditions without prior notice.
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Data and rules are subject to real-time updates based on market conditions.