Starting from July 18, 2025, OKX will implement key adjustments to its perpetual swap funding rate mechanism to enhance trading transparency, improve risk control, and empower users with more accurate cost forecasting. These changes are designed to support both novice and experienced traders in making informed decisions by providing clearer insights into funding cost calculations and future rate predictions.
The updated framework focuses on two major improvements: shifting when the applicable funding rate is determined and expanding real-time data access for users across platforms. These refinements align with industry best practices and reflect OKX’s ongoing commitment to building a fair, transparent, and user-centric trading environment.
Key Changes to Funding Rate Calculation Timing
One of the most significant updates involves when the funding rate used for settlement is locked in.
Current Rule (Prior to July 18, 2025)
Under the existing system, the funding rate applied at each settlement time is based on the rate calculated one minute before that exact moment.
For example:
- At 12:00 HKT, the platform uses the funding rate computed at 11:59 HKT.
- This means traders only know the final rate moments before it's charged.
While functional, this approach offers limited time for users to anticipate or react to potential funding costs.
Updated Rule (Effective July 18, 2025)
To increase predictability and planning accuracy, OKX will now use the funding rate determined at the end of the previous funding interval — significantly earlier than before.
For instance:
- The settlement at 12:00 HKT will apply the rate calculated at 03:59 HKT, which was locked in during the prior cycle.
- This change allows traders to see and plan around the active funding rate well in advance.
👉 Discover how predictable funding rates can enhance your trading strategy
This shift ensures greater consistency in cost expectations and reduces last-minute surprises, especially during volatile market conditions.
Real-Time Access to Current and Predicted Funding Rates
To further boost transparency, OKX will now provide users with dual visibility into both current and upcoming funding rates through its web, mobile app, and public API.
What Are “Current” and “Predicted” Funding Rates?
- Current Funding Rate (funding_rate)
This is the rate that will be applied at the next immediate settlement. It is derived from data in the previous settlement cycle and remains fixed throughout the current period. - Predicted Funding Rate (estimated_rate)
This reflects the projected rate for the second upcoming settlement. It is dynamically updated every minute based on real-time market data within the current cycle and stabilizes in the final minute before the next settlement.
Example Scenario (at 11:30 HKT):
| Settlement Time | Rate Type | Source Time |
|---|---|---|
| 12:00 HKT | Current | Based on 03:59 HKT calculation |
| 20:00 HKT | Predicted | Updated continuously until 11:59 HKT |
This dual-data model enables traders to:
- Accurately calculate holding costs for open positions
- Anticipate potential long-term funding exposure
- Adjust strategies ahead of significant rate shifts
API Enhancements for Developers and Algorithmic Traders
OKX has upgraded its API endpoints to support seamless integration of these new features, ensuring developers and algorithmic traders can leverage enhanced data streams.
RESTful API Update
Endpoint: GET /api/swap/v3/instruments/
New parameters added:
funding_rate: The current funding rate (to be applied at next settlement)estimated_rate: The predicted funding rate (for the following settlement after that)
These fields allow automated systems to monitor, analyze, and trigger actions based on both confirmed and forecasted funding conditions.
WebSocket Channel Update
Channel: swap/funding_rate
Now includes:
estimated_rate: Real-time streaming updates of the predicted funding rate
Additionally:
- The existing
funding_ratefield now explicitly refers to the current applicable rate, not just "the latest calculated rate", improving clarity for all API consumers.
These enhancements ensure high-frequency traders, bots, and third-party analytics tools can operate with more precise and forward-looking information.
👉 Access real-time funding data to power your trading algorithms
Funding Rate Formula Remains Unchanged
The mathematical foundation for calculating the funding rate stays consistent, ensuring stability and continuity in pricing mechanics.
Funding Rate Formula:
Funding Rate = Clamp(MA(((Best Bid + Best Ask)/2 - Spot Index Price)/Spot Index Price - Interest), a, b)Where:
Interest= 0% (currently)MA= Moving average over a specified windowClamp(x, a, b)= Ensures the result stays within minimum (a) and maximum (b) bounds
Applicable Clamp Ranges:
For major perpetual contracts including BTC, ETH, EOS, XRP, BCH, BSV, ETC, LTC, and TRX:
- Lower bound (a) = -0.3%
- Upper bound (b) = +0.3%
This formula prevents extreme rates while reflecting true market demand between longs and shorts. For full details, refer to the official Funding Fee Rules.
Frequently Asked Questions (FAQ)
Q: When will these changes take effect?
A: The updated rules will go live after the 12:00 HKT settlement on July 18, 2025. Any delays due to unforeseen circumstances will be announced separately.
Q: Why is OKX changing the funding rate timing?
A: The update improves predictability. By locking in rates earlier, users gain more time to assess risks and manage positions without being blindsided by last-minute fluctuations.
Q: Can I see both current and predicted rates on the trading interface?
A: Yes. Both values are displayed in real time on OKX’s web and mobile apps under the perpetual swap trading page.
Q: Does this affect how often funding is charged?
A: No. Settlement frequency remains unchanged — typically every 8 hours depending on the contract. Only the timing of rate determination has shifted.
Q: Is there a risk of arbitrage due to early rate locking?
A: Minimal. Since the rate is still based on verifiable market data from prior intervals, manipulation opportunities remain extremely low.
Q: How can I provide feedback on these changes?
A: We welcome user input. Please email your suggestions to [email protected].
Final Thoughts: Building a More Transparent Trading Ecosystem
By decoupling the timing of rate calculation from settlement execution and offering forward-looking data, OKX reinforces its position as a leader in transparent digital asset trading. These updates empower users with better tools to manage risk, forecast costs, and optimize their perpetual swap strategies.
Whether you're holding a short-term position or managing long-term exposure, having access to reliable, timely funding rate information makes all the difference.
👉 Start using advanced funding insights to refine your trading approach today