Cryptocurrency trading has evolved beyond simple spot transactions, and one of the most powerful tools available to modern traders is futures trading. Platforms like OKX offer both beginner-friendly interfaces and advanced features for experienced users, making it a top choice for those looking to dive into derivatives. This comprehensive guide will walk you through everything you need to know about how to trade futures on OKX, from account setup to executing your first contract—safely and confidently.
Whether you're interested in USDT-margined perpetual contracts or coin-margined delivery contracts, this step-by-step tutorial ensures you build a solid foundation in futures trading while understanding key risks and strategies.
Step 1: Account Registration and Verification
Before engaging in any form of trading, you must create and verify your account.
- Visit the official OKX website and click “Sign Up” on the homepage.
- Enter your email address and complete verification using the 6-digit code sent to your inbox (valid for 10 minutes).
- Proceed with phone number verification by entering the SMS code received (also valid for 10 minutes).
🔐 If you encounter issues receiving SMS codes, you can request assistance via the “Didn’t receive the code?” option during login, or contact support by sending a clear photo of both sides of your ID to [email protected], specifying the phone number you wish to unbind.
- After logging in, go to your profile (top-left corner) and select Identity Verification.
- Follow the prompts to complete KYC (Know Your Customer) verification—this is required for higher trading limits and access to advanced features.
Once verified, your account will be fully enabled for futures trading.
👉 Start your futures trading journey today with a secure, feature-rich platform.
Step 2: Configure Your Trading Account Settings
To begin trading futures, you’ll need to adjust your account mode and preferences:
- Navigate to the Futures Trading section.
Choose between:
- Single-currency margin mode: Margin is isolated within each currency.
- Multi-currency margin mode: Allows cross-use of multiple assets as collateral.
You can also customize:
- Trading units (e.g., number of contracts or size in USD)
- Order types (limit, market, stop-limit, etc.)
These settings help tailor the trading experience based on your strategy and risk tolerance.
Step 3: Understand the Types of Contracts Available
OKX offers two main types of futures contracts: Perpetual Contracts and Delivery Contracts.
What Are Futures Contracts?
Futures allow traders to speculate on the future price of an asset without owning it. You can profit from both rising and falling markets:
- Go long (buy) if you expect prices to rise.
- Go short (sell) if you expect prices to fall.
This flexibility makes futures a powerful tool compared to traditional spot trading.
Trading USDT-Margined Perpetual Contracts
Perpetual contracts do not have an expiration date and are settled in stablecoins like USDT.
Step-by-Step Process:
- Transfer Funds: Move assets from your funding account to your trading account. If already done, skip this step.
- On the trading page, click the dropdown next to the trading pair.
- Search for your desired cryptocurrency (e.g., BTC, ETH).
- Under "Margin Trading," select Perpetual, then choose the USDT-margined version of the contract.
- Set your leverage (adjustable based on risk appetite).
- Choose your order type (limit or market), enter price and quantity.
Click:
- Buy Open Long if you’re bullish
- Sell Open Short if you’re bearish
- Unfilled orders can be canceled with a single click.
After execution, view your position in the Positions tab, where you’ll see:
- Initial margin
- Profit and loss (PnL)
- Return on equity (ROE)
- Estimated liquidation price
- Use Take Profit / Stop Loss orders to manage risk automatically.
To exit:
- Enter a close order manually
- Or use Market Close All for instant liquidation
👉 Maximize your market opportunities with advanced trading tools designed for all experience levels.
Trading Coin-Margined Delivery Contracts
Unlike perpetuals, delivery contracts have a fixed expiry date—commonly weekly or quarterly.
Example: Weekly Coin-Margined Contract
- Transfer necessary assets (e.g., BTC) from funding to trading account.
- On the trade interface, select Delivery under margin trading.
Choose your contract type:
- This week
- Next week
- This quarter
- Next quarter
- Select the coin-margined version (e.g., BTCUSDW for BTC/USD weekly contract).
- Adjust leverage and place your order—same process as above.
- Positions are automatically settled at expiration based on the average index price over the last hour.
Because these contracts expire, timing is crucial—always monitor settlement dates to avoid unexpected closures.
Key Concepts Every Beginner Should Know
1. Leverage
Leverage amplifies both gains and losses. While 10x or 20x may seem attractive, high leverage increases liquidation risk—especially in volatile markets.
2. Liquidation Price
This is the price at which your position gets automatically closed due to insufficient margin. Always keep an eye on this value and maintain a safe distance.
3. Funding Rate (Perpetual Contracts Only)
Since perpetuals never expire, funding rates help align contract prices with spot prices:
- If rate is positive, longs pay shorts
- If rate is negative, shorts pay longs
Check the rate before opening a long-term position.
Frequently Asked Questions (FAQ)
Q: What’s the difference between spot and futures trading?
A: Spot trading involves buying actual crypto assets, while futures let you speculate on price movements without ownership—enabling profits in both rising and falling markets.
Q: Is futures trading suitable for beginners?
A: Yes, but start small. Use low leverage, practice with testnet environments if available, and focus on learning risk management first.
Q: Can I lose more than I deposit in futures trading?
A: No—OKX uses a clawback protection mechanism. Your maximum loss is limited to your invested margin.
Q: How often are funding fees charged?
A: Typically every 8 hours (at 04:00, 12:00, and 20:00 UTC). You only pay or receive when holding a position at those times.
Q: What happens if my position isn’t closed before delivery?
A: For delivery contracts, open positions are automatically settled at expiry using the final index price.
Q: Are there fees for trading futures?
A: Yes—taker and maker fees apply. Fees vary based on your 30-day trading volume and OKB holdings.
Final Tips for Success
- Start with small positions to get comfortable with mechanics.
- Always set stop-loss orders—even experienced traders use them.
- Monitor market volatility and news events that impact crypto prices.
- Consider using demo accounts or paper trading features if offered.
- Stay updated with OKX’s official announcements for new tools or rule changes.
Trading futures can significantly enhance your earning potential—but only when approached responsibly.
👉 Access real-time data, powerful charts, and deep liquidity—all in one trusted environment.
By following this guide, you now have a clear understanding of how to trade futures on OKX—from registration to closing your first contract. With practice, discipline, and proper risk control, you can make informed decisions and grow your crypto trading skills over time.
Remember: Knowledge is your greatest asset in volatile markets. Trade smart, stay safe, and keep learning.