Important Update: Revision of the Funding Rate Formula for OKX Perpetual Futures

Dear OKX users,

To better align the per-period funding cost of perpetual futures with each contract's actual settlement cycle, OKX will introduce an 8/N interval factor into the funding rate formula. The change will apply to all listed perpetual futures simultaneously. Contracts that settle every 8 hours will see no change in their per-period funding rate; contracts that settle every 4, 2 or 1 hour will see a proportionally smaller per-period rate.

What is Changing

Current formula:

• Funding rate = clamp [ Average premium index + clamp ( Interest rate − Average premium index, 0.05%, −0.05% ), Funding rate cap, Funding rate floor ]

• Interest rate = 0.03% / ( 24 / Settlement interval )

Updated formula:

• Funding rate = clamp [ ( Average premium index + clamp ( Interest rate − Average premium index, 0.05%, −0.05% ) ) / ( 8 / N ), Funding rate cap, Funding rate floor ]

• Interest rate = 0.01% (fixed)

• N = funding settlement interval in hours, where N ∈ {1, 2, 4, 8}

Effect by Settlement Cycle

• 8h cycle (N=8): divisor = ÷ 1 (identical to current formula, no change)

• 4h cycle (N=4): divisor = ÷ 2 (halved per period)

• 2h cycle (N=2): divisor = ÷ 4 (quartered per period)

• 1h cycle (N=1): divisor = ÷ 8 (roughly 1/8 per period)

Worked Example — 1-Hour Cycle Contract

Assume a 1-hour-cycle perpetual contract with an average premium index of 0.10% in the latest settlement window.Under the current formula:

• Interest rate = 0.03% / (24 /1) = 0.00125%

• Interest − Premium = 0.00125% − 0.10% = −0.09875% → clamped to −0.05%

• Funding rate = 0.10% + (−0.05%) = 0.05% per 1-hour period

• Daily-equivalent ≈ 0.05% × 24 = 1.20%

Under the updated formula:

• Interest rate = 0.01% (fixed)

• Interest − Premium = 0.01% − 0.10% = −0.09% → clamped to −0.05%

• Pre-divisor rate = 0.10% + (−0.05%) = 0.05%

• Funding rate = 0.05% / (8 / 1) = 0.05% / 8 = 0.00625% per 1-hour period

• Daily-equivalent ≈ 0.00625% × 24 = 0.15%

Launch Plan

Product documentation: https://www.okx.com/help/perps-funding-fee-mechanism

For any questions, please contact OKX Customer Support or your dedicated relationship manager.

Thank you for your continued support, and we hope these updates will improve your overall trading experience.

OKX team
29 May, 2026