To enhance service quality, OKX will adjust the calculation method of the average premium index in funding rates starting February 1, 2024, at 16:00 (UTC+8). This update does not affect other calculation logic or the final funding fee results.
Funding Rate Calculation Formula
Funding Rate = Clamp[Average Premium Index, Funding Rate Cap, Funding Rate Floor]
Where:
- Average Premium Index = MA (Premium Index – Interest Rate)
- Interest Rate = 0
- Premium Index = [(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price
- MA (Moving Average) is calculated every minute.
Key Changes in Average Premium Index Calculation
Before Adjustment
The average premium index was a rolling average of minute-by-minute premium indices from the start of the current funding fee cycle to the present time.
Example (24-hour format):
| Last Funding Fee Time | Current Time | Premium Index Calculation Window |
|-----------------------|--------------|----------------------------------|
| 16:00 | 16:10 | 16:00 – 16:10 |
| 16:00 | 23:59 | 16:00 – 23:59 |
After Adjustment
The average premium index now uses a rolling average from N hours before the current time (where N is the funding fee collection interval, e.g., N=8 for 8-hour cycles).
Example (8-hour funding intervals):
| Last Funding Fee Time | Current Time | Premium Index Calculation Window |
|-----------------------|--------------|----------------------------------|
| 16:00 | 16:10 | 08:11 – 16:10 |
| 16:00 | 23:59 | 16:00 – 23:59 (unchanged) |
Impact of the Adjustment
- Same-cycle Contracts: No change for fees calculated at 00:00 using the 23:59 rate.
- Cross-cycle Contracts: Affects only predicted funding rates, not current-period calculations.
API and WebSocket Updates
The /api/v5/public/funding-rate API and WebSocket (funding-rate) will reflect these rules:
| Method | Field |
|----------------|--------------------|
| next_period | nextFundingRate |
| current_period | fundingRate |
👉 Learn more about OKX's trading tools
FAQs
Q1: Does this change affect my existing positions?
A: No. Only the method for predicting future funding rates is updated.
Q2: When will the new calculation take effect?
A: February 1, 2024, at 16:00 (UTC+8).
Q3: Are there changes to funding fee payment amounts?
A: The adjustment does not alter the final funding fee results.
👉 Explore OKX's advanced trading features
Note: Traders are advised to review strategies based on the updated rules. We apologize for any inconvenience and remain committed to delivering exceptional service.
OKX Team
January 25, 2024
### Keywords:
- OKX funding rate
- Premium index calculation
- Crypto derivatives
- Trading strategy
- Moving average adjustment