Opening a contract on OKX Exchange involves a straightforward 8-step process designed for both beginners and experienced traders. This guide will walk you through each stage with clarity and precision.
OKX Exchange Contract Trading Tutorial
Prerequisites for Contract Trading
Before starting, ensure you have:
- An active OKX Exchange account
- Sufficient funds in your contract account
- Basic understanding of leverage and risk management
Step-by-Step Process
1. Log In and Transfer Assets
- Access your OKX account through the official website or mobile app
- Navigate to the "Assets" section
Transfer funds from your:
- Spot account, or
- External wallet
👉 Learn how to securely transfer crypto assets
2. Access the Contract Trading Interface
- Locate the main navigation menu
- Select the "Derivatives" tab
- Choose "Futures Trading" from the dropdown options
3. Select Contract Type
OKX offers two primary contract types:
| Contract Type | Characteristics |
|---|---|
| Perpetual | No expiration date |
| Futures | Fixed settlement date |
4. Choose Trading Pair
Popular trading pairs include:
- BTC/USDT
- ETH/USDT
- SOL/USDT
5. Set Leverage Ratio
Key considerations:
- Default leverage varies by pair
- Higher leverage increases both potential profits and risks
- Adjust using the leverage slider
6. Enter Contract Size
- Input your desired position size
- Note: Contracts are denominated in "lots" representing specific asset amounts
7. Select Order Type
Comparison:
| Order Type | Execution | Best For |
|---|---|---|
| Limit | At specified price | Precise entries/exits |
| Market | Immediate execution | Urgent trades |
8. Submit and Monitor Order
- Double-check all parameters
- Click "Confirm Order"
- Monitor positions in the "Open Orders" section
Risk Management Tips
- Always set stop-loss orders
- Never risk more than 1-2% of capital per trade
- Regularly monitor margin levels
👉 Master advanced trading strategies
FAQ Section
Q: What's the minimum contract size on OKX?
A: Minimums vary by pair, typically starting at 0.01 BTC equivalent.
Q: Can I change leverage after opening a position?
A: Yes, but this may affect your margin requirements and liquidation price.
Q: How are funding rates calculated?
A: Rates are determined by market demand and typically occur every 8 hours.
Q: What happens if my position gets liquidated?
A: The exchange automatically closes your position when margin falls below maintenance level.
Q: Are there fees for contract trading?
A: Yes, OKX charges maker-taker fees ranging from 0.02% to 0.05%.
Q: Can I trade contracts on mobile?
A: Absolutely - OKX offers full contract trading functionality on iOS and Android apps.
This comprehensive guide covers all essential aspects of contract trading on OKX Exchange. For optimal results, always combine technical knowledge with disciplined risk management practices.