Contract trading has become a popular way for investors to profit from cryptocurrency market movements—whether prices are rising or falling. While the concept may seem complex at first, understanding how to use tools like perpetual, delivery, and options contracts can significantly enhance your trading strategy. This guide walks you through everything you need to know about contract trading on OKX, including step-by-step instructions, key features, and best practices to manage risk effectively.
👉 Discover how to start contract trading with confidence and access powerful tools today.
Understanding Contract Trading
At its core, contract trading allows you to speculate on the future price of digital assets without owning them directly. It's a double-edged sword: when used wisely, it can amplify gains and hedge against market volatility; misused, it can lead to significant losses. The key lies in understanding the mechanics and applying sound risk management.
OKX offers three main types of contracts:
- Perpetual Contracts
- Delivery Contracts
- Options Contracts
Each supports both long (buy) and short (sell) positions, enabling traders to benefit from upward and downward price trends.
These products come in two settlement forms: USDT-margined and coin-margined contracts. Most beginners prefer USDT-margined contracts due to their stable valuation and ease of use.
Getting Started: Fund Transfers & Account Setup
Before placing any trades, you’ll need to complete two essential steps: fund transfer and account configuration.
1. Transfer Funds to Your Trading Account
To begin:
- Open the OKX app and go to [Assets] > [Fund Transfer]
- Select a currency (e.g., USDT)
- Choose transfer direction: from Funding Account to Trading Account
- Enter the amount and confirm
This process ensures your funds are available in the correct wallet for contract trading.
2. Configure Your Trading Settings
Navigate to the trading interface:
- Tap the icon in the top-left corner and select [Account Info]
Under [Trading Settings], adjust:
- Account Mode (isolated or cross margin)
- Trading Unit (number of contracts or notional value)
- Order Mode (switch between "Buy/Sell" and "Open/Close" formats)
These settings allow you to customize your trading experience based on your strategy and risk tolerance.
Perpetual Contracts: Trade Without Expiry
Perpetual contracts are among the most widely used derivatives because they have no expiration date, allowing traders to hold positions indefinitely (subject to funding fees).
Going Long: Buy (Open Long) / Sell (Close Long)
If you believe Bitcoin’s price will rise:
- Go to the [Trade] page
- Tap the trading pair field → select BTC/USDT
- Choose [Perpetual] > [USDT-Margined] > [BTCUSDT Perpetual]
Set:
- Margin mode (Isolated or Cross)
- Order type (Limit)
- Leverage (adjust using the slider)
- Enter price and quantity
- Click [Buy (Long)] → Confirm
To close the position later:
- Go to [Positions]
- Select the open long → tap [Close]
- Choose limit price or market price
- Enter quantity → Confirm
You can also set take-profit and stop-loss orders under [TP/SL] to automate exit strategies.
For fast exits, use [Market Close All] to liquidate the entire position instantly.
⚠️ Note: During high volatility, slippage or failed executions may occur. Always monitor open orders closely.
Going Short: Sell (Open Short) / Buy (Close Short)
When anticipating a price drop, follow the same steps—but click [Sell (Short)] instead. Closing requires buying back the same amount at a lower price to realize profit.
Delivery Contracts: Fixed-Term Futures
Unlike perpetuals, delivery contracts have a fixed expiry—such as weekly, bi-weekly, quarterly—and are settled automatically at maturity.
For example, trading BTCUSDT0806 Weekly-USDT Contract follows this flow:
- Navigate to [Delivery] > [USDT-Margined] > [BTC Weekly Contract]
- Choose leverage, order type, price, and size
- Click [Buy (Long)] or [Sell (Short)]
Closing works identically to perpetuals via the [Positions] tab. These contracts are ideal for timed market predictions and hedging short-term exposure.
👉 Learn how professional traders use delivery contracts to time market swings.
Options Contracts: Flexibility with Limited Risk
Options give you the right—but not the obligation—to buy or sell an asset at a set price before a specific date.
OKX supports options for major assets like BTC and ETH, offering both call (bullish) and put (bearish) options.
Buying a Call Option (Bullish Outlook)
Experienced users can access the full range via:
- [Trade] > [Options] > [Professional Mode]
- Select underlying asset (BTC)
- Filter by expiration → choose strike price → pick Call (C) options
Each contract is labeled clearly: BTCUSD – 20250625 – 30000 – C
→ BTC/USDT option expiring June 25, 2025, strike $30,000, call type
Set order parameters:
- Margin mode
- Limit price
- Quantity → Click [Buy]
New traders can use [Simple Mode] for guided selection:
- Tap [BTC Simple Option]
- Pick expiry date → press [Call]
- Browse available strikes → review P&L preview → Confirm purchase
Selling & Closing Options
To exit a long option position:
- Go to [Positions] > [Options]
- Select contract → tap [Close]
- Enter price and amount → Confirm
Note:
- OKX uses European-style options: exercisable only at expiry (16:00 HKT)
- In-the-money contracts are auto-exercised; out-of-the-money ones expire worthless
- You can close early anytime before expiry
Put Options (Bearish Strategy)
Identical setup—just select Put (P) instead of Call. Use these when expecting price declines.
Frequently Asked Questions (FAQ)
Q: What is the difference between isolated and cross margin?
A: Isolated margin limits risk to a set amount allocated per trade. Cross margin uses your entire balance as collateral, reducing liquidation risk but exposing more funds.
Q: Are there fees for contract trading?
A: Yes, taker and maker fees apply. OKX offers competitive rates, often reduced for higher trading volumes or VIP tiers.
Q: Can I trade contracts on mobile?
A: Absolutely. The OKX mobile app supports full contract functionality across perpetuals, delivery, and options.
Q: How do funding rates work in perpetual contracts?
A: Funding is exchanged between longs and shorts every 8 hours to keep prices aligned with spot markets. You only pay/receive if holding a position during settlement.
Q: Is options trading suitable for beginners?
A: While complex, OKX’s Simple Mode makes entry easier. Start small and learn Greeks (delta, gamma) over time.
Q: What happens if my position gets liquidated?
A: If losses exceed your margin, the system closes the trade automatically. Use stop-losses and conservative leverage to avoid this.
👉 Maximize your potential with advanced contract tools designed for all experience levels.