OKX, a leading cryptocurrency exchange, has announced a new funding fee collection method as part of its efforts to expand globally. The platform will be implementing this change for the remaining group of perpetual futures it owns. The move is aimed at providing users with improved services. Previously, the funding fee calculations were based on the funding rate of the previous funding period, but now they will be based on the funding rate of the current period.
Perpetual futures, also known as perpetual swaps, are derivative contracts that allow traders to make predictions about the future price of an asset without worrying about expiration. They are widely used in the cryptocurrency trading world for speculating on assets like Bitcoin and Ethereum. Compared to spot markets, perpetual futures offer higher leverage and increased liquidity.
OKX’s decision to change its funding fee collection mechanism aligns with its focus on expanding its client base globally. The exchange recently obtained a regulatory license in Dubai, enabling it to provide bitcoin services to retail customers. To further attract users, OKX has signed agreements with prominent sports teams like the Australian Olympic Team, McLaren, and Manchester City. However, due to regulatory concerns, the exchange is currently unable to accept users from the United States.