OKX to change funding fee collection mechanism for remaining group of perpetual futures
To provide you with better services, OKX will gradually change the funding fee collection mechanism for the remaining group of perpetual futures from cross-period collection to current-period collection. Perpetual futures that have already changed to the current-period collection mechanism are listed in the following announcement: https://www.okx.com/help/okx-to-change-funding-fee-collection-mechanism
Before the change:
Formerly, funding fee calculations were based on the funding rate of the previous funding period (cross-period collection). For example, when the funding fee is collected every 8 hours, funding fee calculations at 8:00 am UTC today use the funding rate determined by the premium index from 4:00 pm UTC yesterday to 12:00 am UTC today, resulting in a fixed value from 12:00 am UTC to 8:00 am UTC.
After the change:
Funding fee calculations will be based on the funding rate of the current funding period (current-period collection).For example, funding fee calculations at 8:00 am UTC every day will use the funding rate determined by the premium index from 12:00 am UTC to 8:00 am UTC. Note that the funding rate may fluctuate before the funding fee is collected, so you need to dynamically manage your positions according to current conditions.
Affected futures:
Date and time: January 31, 2024, 4:00 pm UTC
145 USDT-margined perpetual futures:
MATICUSDT | AUCTIONUSDT | CROUSDT | GALAUSDT | KLAYUSDT | MOVRUSDT | SANDUSDT | WAVESUSDT |
DOGEUSDT | AVAXUSDT | CRVUSDT | GALUSDT | KNCUSDT | NEARUSDT | SHIBUSDT | WAXPUSDT |
SATSUSDT | AXSUSDT | CSPRUSDT | GASUSDT | KSMUSDT | NEOUSDT | SLPUSDT | WOOUSDT |
1INCHUSDT | BADGERUSDT | CTCUSDT | GFTUSDT | LDOUSDT | NFTUSDT | SNXUSDT | WSMUSDT |
AAVEUSDT | BALUSDT | CVCUSDT | GMTUSDT | LINKUSDT | NMRUSDT | SSVUSDT | XCHUSDT |
ACEUSDT | BANDUSDT | DOTUSDT | GMXUSDT | LOOKSUSDT | OMGUSDT | STARLUSDT | XLMUSDT |
ADAUSDT | BATUSDT | DYDXUSDT | GODSUSDT | LPTUSDT | ONTUSDT | STORJUSDT | XTZUSDT |
AGIXUSDT | BICOUSDT | EGLDUSDT | GRTUSDT | LQTYUSDT | ORBSUSDT | STXUSDT | YFIUSDT |
AGLDUSDT | BIGTIMEUSDT | ENSUSDT | HBARUSDT | LRCUSDT | PEPEUSDT | SUSHIUSDT | YFIIUSDT |
AIDOGEUSDT | BNTUSDT | EOSUSDT | ICPUSDT | LTCUSDT | PERPUSDT | SWEATUSDT | YGGUSDT |
ALGOUSDT | BONKUSDT | ETHWUSDT | IDUSDT | LUNAUSDT | PYTHUSDT | THETAUSDT | ZILUSDT |
ALPHAUSDT | BSVUSDT | FETUSDT | IMXUSDT | LUNCUSDT | QTUMUSDT | TONUSDT | ZRXUSDT |
ANTUSDT | CELOUSDT | FILUSDT | INJUSDT | MAGICUSDT | RACAUSDT | TRXUSDT | |
APEUSDT | CELUSDT | FITFIUSDT | IOSTUSDT | MANAUSDT | RDNTUSDT | TURBOUSDT | |
API3USDT | CETUSUSDT | FLMUSDT | IOTAUSDT | MASKUSDT | RENUSDT | UMAUSDT | |
APTUSDT | CFXUSDT | FLOKIUSDT | JOEUSDT | MEMEUSDT | RNDRUSDT | UNIUSDT | |
ARUSDT | CHZUSDT | FRONTUSDT | JSTUSDT | METISUSDT | RONUSDT | USDCUSDT | |
ARBUSDT | COMPUSDT | FTMUSDT | JTOUSDT | MINAUSDT | RSRUSDT | USTCUSDT | |
ATOMUSDT | COREUSDT | FXSUSDT | KISHUUSDT | MKRUSDT | RVNUSDT | VRAUSDT |
25 Crypto-margined perpetual futures:
XRPUSD | AVAXUSD | EOSUSD | LTCUSD | THETAUSD |
1INCHUSD | BCHUSD | ETCUSD | MANAUSD | TRXUSD |
ADAUSD | BSVUSD | GRTUSD | NEOUSD | UNIUSD |
ALGOUSD | CRVUSD | KSMUSD | SANDUSD | XLMUSD |
ATOMUSD | DOTUSD | LINKUSD | SUSHIUSD | YFIUSD |
Funding fee collection before and after the change:
Funding fee collection | Premium index period used for funding rate calculations |
January 31, 2024, 8:00 am UTC | January 30, 2024, 4:00 pm UTC - January 31, 2024, 12:00 am UTC (cross-period collection) |
January 31, 2024, 4:00 pm UTC | January 31, 2024, 8:00 am UTC - January 31, 2024, 4:00 pm UTC (current-period collection) |
February 1, 2024, 12:00 am UTC | January 31, 2024, 4:00 pm UTC - February 1, 2024, 12:00 am UTC (current-period collection) |
February 1, 2024, 8:00 am UTC | February 1, 2024, 12:00 am UTC - February 1, 2024, 8:00 am UTC (current-period collection) The same collection mechanism will be applied moving forward. |
Date and time: February 20, 2024, 4:00 pm UTC
10 USDT-margined perpetual futures:
BTCUSDT |
ETHUSDT |
ORDIUSDT |
SUIUSDT |
TIAUSDT |
BNBUSDT |
BLURUSDT |
OPUSDT |
ETCUSDT |
PEOPLEUSDT |
2 USDC-margined perpetual futures:
BTCUSDC |
ETHUSDC |
5 Crypto-margined perpetual futures:
BTCUSD |
ETHUSD |
FILUSD |
SOLUSD |
DOGEUSD |
Funding fee collection before and after the change:
Funding fee collection | Premium index period used for funding rate calculations |
February 20, 2024, 8:00 am UTC | February 19, 2024, 4:00 pm UTC - February 20, 2024, 12:00 am UTC (cross-period collection) |
February 20, 2024, 4:00 pm UTC | February 20, 2024, 8:00 am UTC - February 20, 2024, 4:00 pm UTC (current-period collection) |
February 21, 2024, 12:00 am UTC | February 20, 2024, 4:00 pm UTC - February 21, 2024, 12:00 am UTC (current-period collection) |
February 21, 2024, 8:00 am UTC | February 21, 2024, 12:00 am UTC - February 21, 2024, 8:00 am UTC (current-period collection) The same collection mechanism will be applied moving forward. |
API changes:
The main changes include additional methods for determining the difference between current-period collection and cross-period collection in the APIs for funding rates and funding rate history. Furthermore, nextFundingRate will return a null value for perpetual futures using current-period collection. The following link provides more details: https://www.okx.com/docs-v5/log_en/#upcoming-changes
Friendly reminders:
These changes may affect your trading strategies. Therefore, based on market trends, you can close your perpetual positions before each collection time to avoid funding fee charges.
The lighting icon will be displayed next to the funding rate of perpetual futures that have changed to current-period collection.
Thank you for your continued support. We appreciate your trust in us and assure you of our best services at all times.
OKX team
January 17, 2024