Futures trading has become one of the most popular ways for crypto investors to profit from both rising and falling market prices. Unlike spot trading, which only allows gains when prices go up, futures contracts enable traders to benefit from downward movements by taking short positions. Platforms like OKX (formerly OKEx) offer powerful tools and flexible options to help both new and experienced traders navigate the volatile cryptocurrency markets.
In this comprehensive guide, we’ll walk you through everything you need to know about futures trading on OKX — from understanding contract types to executing your first trade with confidence.
What Is Futures Trading?
Futures trading allows investors to speculate on the future price of an asset without actually owning it. You can either buy long (go long) if you expect the price to rise, or sell short (go short) if you anticipate a decline.
For example:
- If you’re bullish on Bitcoin (BTC), you can open a long position. If BTC’s price increases, you make a profit.
- If you’re bearish, you can open a short position. In this case, falling BTC prices generate gains.
This flexibility means that even during market downturns, skilled traders can still earn returns — a major advantage over traditional spot trading.
OKX offers two main types of futures contracts:
1. Delivery Contracts
These have a fixed expiration date. If your position remains open at expiry, it will be automatically settled based on the average index price over the final hour before expiration.
Delivery contracts are categorized by their settlement periods:
- Weekly (this week, next week)
- Quarterly (this quarter, next quarter)
2. Perpetual Contracts
As the name suggests, these contracts do not expire. They’re designed to track the spot price closely through a mechanism called funding rates.
Here’s how funding works:
- When more traders are long (bullish), longs pay shorts a funding fee.
- When more traders are short (bearish), shorts pay longs.
This incentivizes balance in the market and prevents excessive deviation from the underlying asset’s actual value.
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Contract Types Based on Margin
Within both delivery and perpetual contracts, OKX further categorizes products by margin type, giving users greater control over risk and exposure.
1. USDT-Margined Contracts
- Profits and losses are denominated in USDT (a stablecoin).
- Ideal for traders who want to avoid volatility in their margin value.
- Easier to calculate P&L due to stable pricing.
2. Coin-Margined Contracts
- The margin is posted in the base cryptocurrency (e.g., BTC, ETH).
- P&L is calculated in the same coin.
- Suited for holders who believe in long-term appreciation of the asset and prefer not to convert to stablecoins.
This dual-margin system empowers traders to choose based on their strategy, risk tolerance, and market outlook.
How to Start Trading Futures on OKX
Now that you understand the basics, let’s walk through the step-by-step process of opening and managing a futures position on OKX.
Step 1: Set Up Your Account Mode
Before trading, ensure your account is configured correctly:
- Go to Account Settings.
Choose between Single-Currency Margin Mode or Multi-Currency Margin Mode.
- Single-Currency: Only the selected coin backs its respective positions.
- Multi-Currency: Uses multiple assets as collateral, increasing capital efficiency.
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Step 2: Transfer Funds to Your Trading Account
Move funds from your funding account to your derivatives trading account:
- Navigate to “Assets” > “Transfer”.
- Select the asset (e.g., USDT or BTC).
- Choose “From: Funding Account” → “To: Derivatives Account”.
- Enter amount and confirm.
Once transferred, your balance will be available for margin use.
Step 3: Open a Delivery Contract Position
Let’s use a coin-margined weekly delivery contract as an example:
- On the trading page, click the dropdown next to the trading pair.
- Search for your desired cryptocurrency (e.g., BTC).
- Under "Margin Trading," select Delivery.
- Choose the contract type: Weekly, Bi-weekly, Quarterly, etc., under Coin-Margined Contracts.
- Select your order type (limit/market), enter price and quantity.
- Click Buy Open Long (if bullish) or Sell Open Short (if bearish).
After execution, your active position appears in the Positions tab.
Step 4: Open a Perpetual Contract Position
Using a USDT-margined perpetual contract as an example:
- Follow the same fund transfer steps above.
- On the trading interface, select Perpetual under "Margin Trading."
- Pick the USDT-Margined Perpetual contract for your chosen asset.
- Choose leverage (adjustable based on risk appetite).
- Place a limit or market order to open your position.
Your position details — including margin, unrealized P&L, ROI, and estimated liquidation price — will be visible in real time.
Step 5: Manage Your Position
After opening a trade, proactive management is key:
✅ Set Stop-Loss & Take-Profit
- Prevent large losses with stop-loss orders.
- Lock in profits automatically using take-profit levels.
- Accessible directly from the Positions panel.
✅ Close Your Position
You can exit manually by:
- Entering a specific close price.
- Using Market Close All for instant full liquidation.
Always monitor funding rates in perpetual contracts — they can impact profitability over time.
Frequently Asked Questions (FAQ)
Q: What is the difference between USDT-margined and coin-margined contracts?
A: USDT-margined contracts settle profits and losses in USDT, making them more predictable. Coin-margined contracts use the crypto itself as margin and settle in that coin, exposing you to additional price volatility but appealing to long-term holders.
Q: How does leverage work in futures trading?
A: Leverage allows you to control a larger position with less capital. For example, 10x leverage means you only need 10% of the total position value as margin. However, higher leverage increases both potential gains and risks of liquidation.
Q: What happens if my position gets liquidated?
A: If losses exceed your margin balance, the system automatically closes your position to prevent further debt. The "estimated liquidation price" shown in your dashboard helps you avoid this scenario.
Q: Can I trade futures without prior experience?
A: While possible, beginners should start with small positions and use demo accounts or paper trading tools to practice risk management before committing real funds.
Q: Are perpetual contracts riskier than delivery contracts?
A: Not inherently — both carry similar market risks. However, perpetual contracts involve ongoing funding payments, which can accumulate over time and affect net returns.
Q: Is OKX safe for futures trading?
A: OKX is one of the world’s leading crypto exchanges, known for robust security measures, high liquidity, and regulatory compliance across multiple jurisdictions.
Final Tips for Successful Futures Trading
- Start with low leverage until you’re comfortable with margin mechanics.
- Always use stop-loss orders to protect against sudden market swings.
- Monitor funding rates regularly when holding perpetual positions.
- Diversify strategies — don’t rely solely on directional bets.
- Stay updated on macroeconomic news affecting crypto markets.
With its intuitive interface, deep liquidity, and wide range of contract options, OKX provides everything modern traders need to succeed in the fast-moving world of digital assets.
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Whether you're hedging spot holdings or actively speculating on price moves, mastering futures on OKX opens new doors for profit — regardless of market direction.