Perpetual contracts have become one of the most popular tools in the cryptocurrency trading space, offering traders flexibility, high leverage, and continuous exposure to digital asset price movements. As a beginner or even an experienced trader, understanding how fees work—especially on major platforms like OKX—is crucial for maximizing profitability and managing costs effectively. This article dives into the mechanics of perpetual contracts, explains how trading fees are calculated on OKX, and answers the key question: How much does it cost to trade perpetual contracts on OKX per day?
We’ll also walk through the full trading process on OKX, highlight risk management strategies, and offer practical tips for new users.
What Is a Perpetual Contract?
A perpetual contract is a type of futures contract that doesn’t have an expiration date. Unlike traditional futures, which require settlement on a specific date, perpetual contracts allow traders to hold positions indefinitely—until they decide to close them.
This makes them ideal for both short-term speculators and long-term investors who want to maintain exposure to crypto markets without worrying about rollover or expiry.
Key Features of Perpetual Contracts
- No Expiry Date: Positions can be held as long as margin requirements are met.
- Leverage Trading: Traders can open larger positions with less capital (e.g., 10x, 25x, up to 125x on OKX).
- Funding Rate Mechanism: To keep the contract price aligned with the underlying spot price, a funding fee is exchanged between long and short positions every 8 hours.
👉 Discover how low-fee perpetual trading works on a top global exchange.
Understanding OKX Perpetual Contract Fees
When evaluating daily costs, two types of fees matter most:
- Trading Fees (Taker and Maker)
- Funding Fees (paid every 8 hours)
Let’s break each down.
1. Trading Fees: Opening and Closing Positions
Every time you place an order—whether opening or closing a position—you incur a trading fee. These are split into:
- Maker Fee: Charged when you place a limit order that adds liquidity to the order book.
- Taker Fee: Charged when you place a market order (or aggressive limit order) that removes liquidity.
On OKX, standard fees are:
- Maker Fee: 0.02%
- Taker Fee: 0.05%
However, these can be reduced based on:
- Your 30-day trading volume
- Your OKB holdings (OKX’s native token)
- VIP tier status
For example, VIP users can enjoy maker fees as low as 0.00% and taker fees from 0.02%.
👉 See how trading volume impacts your fee rate on a leading crypto platform.
2. Funding Fees: The Hidden Daily Cost
Since perpetual contracts don’t expire, the platform uses a funding rate mechanism to tether the contract price to the spot market.
Every 8 hours, funding is exchanged between long and short holders:
- If funding rate > 0: Longs pay shorts
- If funding rate < 0: Shorts pay longs
Funding rates typically range from 0.01% to 0.05% per session, depending on market conditions.
Daily Funding Cost Example:
Assume you hold a $10,000 long position in BTC/USDT perpetual contract with a funding rate of 0.01% per session:
- Cost per session = $10,000 × 0.01% = $1
- Daily cost (3 sessions) = $3
So, your daily funding cost is just $3—not charged directly but deducted from your margin balance.
⚠️ Note: You only pay or receive funding if you hold a position at the settlement times: UTC 00:00, 08:00, and 16:00.
How to Trade Perpetual Contracts on OKX – Step-by-Step
OKX is one of the world’s top cryptocurrency exchanges, known for its robust security, deep liquidity, and user-friendly interface. Here’s how to get started:
Step 1: Register and Log In
Download the OKX app or visit the official website to create an account using your email or phone number. Complete verification to enhance account security and unlock higher withdrawal limits.
Step 2: Complete KYC Verification
To access advanced features like derivatives trading, complete identity verification by uploading government-issued ID documents. This process usually takes just minutes.
Step 3: Deposit Funds
Transfer USDT, BTC, ETH, or other supported assets into your OKX account via:
- Bank transfer
- Crypto deposit
- P2P trading
Once confirmed, funds appear in your "Assets" dashboard.
Step 4: Navigate to Perpetual Contracts
Go to the “Trade” section → Select “Derivatives” → Choose “USD-M Futures” (for USDT-margined contracts). Pick your preferred pair (e.g., BTC/USDT, ETH/USDT).
Step 5: Set Leverage
Choose leverage between 1x and 125x. Higher leverage increases both profit potential and liquidation risk. Beginners should start with 3x–5x.
Step 6: Open a Position
Decide your market outlook:
- Click “Buy / Long” if you expect prices to rise
- Click “Sell / Short” if you expect prices to fall
Enter the contract quantity and confirm the order.
Step 7: Set Stop-Loss and Take-Profit
Protect your capital by setting automatic exit points:
- Stop-loss: Minimizes losses during adverse moves
- Take-profit: Locks in gains at target prices
Use conditional orders to automate risk management.
Step 8: Monitor Funding and Close Position
Check the funding countdown in the trading interface. If holding overnight, anticipate recurring funding payments or receipts.
To exit, click “Close Position” or manually place an opposite trade.
Frequently Asked Questions (FAQ)
Q1: Are there any hidden fees when trading perpetual contracts on OKX?
No. All fees—including maker/taker fees and funding rates—are transparently displayed on the platform. There are no account maintenance or withdrawal fees for most cryptocurrencies.
Q2: Do I pay fees even if I don’t trade every day?
You only pay trading fees when placing orders. However, if you hold a position during funding settlements (every 8 hours), you may pay or receive funding fees—even without active trading.
Q3: Can I reduce my trading fees on OKX?
Yes. You can lower fees by:
- Increasing your monthly trading volume
- Holding OKB tokens (up to 20% discount)
- Upgrading to VIP status through OKX’s tiered system
Q4: What happens if I forget to close my position?
Your position remains open until manually closed or until liquidation occurs due to insufficient margin. You’ll continue paying or receiving funding every 8 hours.
Q5: Is perpetual contract trading suitable for beginners?
Yes—but with caution. Start with small positions, low leverage, and use stop-loss tools. Practice with OKX’s demo trading mode before going live.
Q6: How often is funding charged on OKX?
Funding is settled three times daily at UTC 00:00, 08:00, and 16:00. Only traders with open positions at those moments are affected.
Tips for New Traders
- ✅ Start Small: Begin with minimal capital to learn platform mechanics.
- ✅ Use Low Leverage Initially: Avoid overexposure; build confidence gradually.
- ✅ Always Set Stop-Loss: Protect against sudden market swings.
- ✅ Monitor Funding Rates: Avoid entering longs during periods of extremely high positive funding.
- ✅ Stay Informed: Follow market news and technical analysis to make informed decisions.
Final Thoughts
Trading perpetual contracts on OKX offers powerful tools for profiting from crypto volatility—but understanding daily costs is essential. While trading fees are minimal (as low as 0.02% for makers), the real recurring cost comes from funding fees, which average around 0.01%–0.05% every 8 hours.
With smart risk management, proper use of leverage, and awareness of fee structures, both new and experienced traders can navigate the perpetual contract market efficiently.
Whether you're looking to hedge spot holdings or speculate on price moves, OKX provides a secure, feature-rich environment designed for performance and transparency.
👉 Start trading perpetual contracts with competitive fees and strong security protections today.