Perpetual contracts have revolutionized the way traders engage with cryptocurrency markets, offering unmatched flexibility and profit potential. On platforms like OKX, these derivative instruments allow users to speculate on price movements of major digital assets without owning them directly—profiting from both rising and falling markets. This comprehensive guide walks you through everything you need to know about trading perpetual contracts on OKX via both mobile app and web interface, from account setup to advanced risk management strategies.
Whether you're new to derivatives or refining your strategy, this guide delivers clear, actionable insights while focusing on key concepts like leverage, margin modes, and order execution.
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Understanding Perpetual Contracts on OKX
Perpetual contracts are a type of futures contract that does not have an expiration date, allowing traders to hold positions indefinitely as long as they maintain sufficient margin. Unlike traditional futures, which settle at a fixed date, perpetuals are designed for continuous trading, making them ideal for short-term speculation or longer-term directional bets.
On OKX, perpetual contracts come in two primary forms:
- USDT-margined contracts (linear): Settled in stablecoins like USDT. Profits and losses are denominated in USDT, simplifying value tracking.
- Coin-margined contracts (inverse): Margined and settled in the underlying cryptocurrency (e.g., BTC or ETH). This model appeals to holders who want to avoid converting their crypto into stablecoins.
Both types support high leverage—up to 125x on certain pairs—amplifying both gains and risks. Traders can go long (buy) if they expect prices to rise or short (sell) if they anticipate a decline.
Step-by-Step Setup: Funding Your Trading Account
Before entering any trade, you must transfer funds from your main wallet to your derivatives trading account.
Mobile App: Transfer Funds
- Open the OKX app and navigate to 【Assets】 > 【Fund Transfer】.
- Select the asset (e.g., USDT) you wish to use for trading.
- Choose transfer direction: From [Funding Account] → To [Trading Account].
- Enter the amount and confirm the transfer.
Web Platform: Fund Allocation
- Log in to the OKX website.
- Click 【Wallet】 > 【Fund Transfer】 in the top-right corner.
- Pick your desired coin (e.g., USDT), select source and destination accounts, enter amount, then click 【Confirm】.
This process ensures your trading account has adequate collateral for opening leveraged positions.
Configuring Your Trading Preferences
Optimizing your account settings enhances control over risk and trade execution.
Accessing Account Settings
- App: Tap the icon in the top-left of the trading screen → 【Account Info】 > 【Trading Settings】.
- Web: Click the gear icon in the top-right → 【Trading Settings】.
Key Configuration Options
Account Mode: Toggle between Isolated Margin and Cross Margin.
- Isolated: Only allocated margin is at risk; limits exposure per position.
- Cross: Uses entire account balance as backup; increases liquidation resistance but exposes more capital.
Trading Unit: Choose how you want to display order size:
- For USDT contracts: options include “Coins,” “Contracts,” or “USDT.”
- For coin-margined contracts: “Contracts” or “Coins.”
Selecting the right unit improves precision when placing orders across different market conditions.
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Going Long: How to Open and Close Long Positions
When you believe an asset’s price will rise, you open a long position.
1. Open a Long Position (Buy to Open)
Example: BTC/USDT Perpetual Contract
- Go to 【Trade】 → Tap the pair selector → Search for BTC/USDT.
- Switch to 【Perpetual】 > 【USDT Contracts】 > 【BTCUSDT Perpetual】.
Set:
- Margin mode (Cross/Isolated)
- Leverage (up to 125x)
- Order type (Limit Order recommended)
- Input desired price and quantity.
- Tap 【Buy Open Long】 → 【Confirm】.
⚠️ Higher leverage increases both potential returns and liquidation risk. Always assess volatility before committing.
You can also set take-profit and stop-loss orders during entry under 【Order Confirmation】 to automate risk management.
2. Close a Long Position (Sell to Close)
There are two ways to exit:
- From Trading Page: Tap 【Close】 > 【Limit Order】, input price and quantity → 【Sell Close Long】.
- From Position Tab: Go to 【Positions】, select the open long → Tap 【Close】, choose price or market → Confirm.
For rapid exits during fast-moving markets, use 【Market Close All】 to instantly liquidate the full position.
Monitor Your Position
After opening a trade, check the 【Positions】 tab for critical data:
- Entry price
- Estimated liquidation price
- Initial margin
- PnL (Profit/Loss) in USDT
- Return rate
Understanding these metrics helps you make informed decisions about scaling or exiting.
Going Short: Profiting from Market Downturns
If you expect prices to fall, open a short position.
1. Open a Short Position (Sell to Open)
Follow the same steps as above but:
- Select 【Sell Open Short】
- Ensure sufficient margin is allocated
- Set appropriate leverage and order parameters
Shorting allows profit even in bearish markets—but remember, losses can exceed initial deposits if price moves sharply upward.
2. Close a Short Position (Buy to Close)
To close:
- From Trading Page: Click 【Close】 > 【Limit Order】 → Enter price/amount → 【Buy Close Short】
- From Positions Tab: Select short position → Input details → Tap 【Close】
Use stop-loss and take-profit triggers under 【Position Management】 > 【TP/SL】 to lock in profits or minimize drawdowns automatically.
Managing Orders and Risk
Effective trade management separates successful traders from the rest.
View Active Orders
Navigate to 【Current Orders】 below the trading chart to see pending limit orders. You can:
- Track execution status
- Modify prices
- Cancel unexecuted entries
Use Stop-Loss and Take-Profit Strategically
Under each open position:
- Tap 【Take Profit / Stop Loss】
- Set trigger levels and target prices
- Confirm settings
These tools help enforce discipline and reduce emotional decision-making.
Frequently Asked Questions (FAQ)
Q1: What is the difference between isolated and cross margin?
A: Isolated margin limits risk to a predefined amount assigned to a single position. Cross margin uses your entire account equity as collateral, potentially preventing early liquidation but increasing overall exposure.
Q2: Can I change leverage after opening a position?
A: Yes, on OKX you can adjust leverage dynamically while a position is open—either increasing or decreasing it based on market outlook and risk tolerance.
Q3: Why didn’t my order execute?
A: During high volatility or low liquidity, limit orders may fail if the market doesn’t reach your specified price. Consider using market orders cautiously during such times.
Q4: How is the liquidation price calculated?
A: It depends on entry price, leverage, fees, funding rate, and maintenance margin requirements. The system updates it in real time under the 【Positions】 tab.
Q5: Are perpetual contracts suitable for beginners?
A: While accessible, they involve complex risks due to leverage. Beginners should start with small positions, use conservative leverage (e.g., 5x–10x), and practice on demo accounts first.
Q6: Does OKX offer negative balance protection?
A: Yes, OKX features auto-deleveraging and insurance funds to protect traders from going into negative equity during extreme events.
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Final Thoughts
Trading perpetual contracts on OKX offers powerful opportunities for both bullish and bearish strategies across major cryptocurrencies. By mastering fund transfers, understanding margin modes, utilizing precise entry/exit techniques, and applying disciplined risk controls like stop-losses, traders can navigate volatile markets with greater confidence.
Always remember: with high leverage comes high responsibility. Stay informed, test strategies in simulated environments, and never risk more than you can afford to lose.
Whether using the mobile app or web platform, OKX provides a robust ecosystem for modern crypto traders focused on speed, security, and scalability.
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