Perpetual Swaps on OKX: What It Is, How It Works, and What to Know
Perpetual Swaps - or Perps, are a type of derivative that lets you trade on the future price direction of crypto assets without owning them and without any expiry date. Think of it like making a call on where the market is headed, up or down, and profiting from that move when you close the trade.
Unlike traditional futures contracts, Perpetual Swaps don’t expire. That means you can:
Hold your position as long as you want
Set your own target to close in profit or cut losses
Trade both directions: long or short
Use up to 50× leverage, depending on the pair
It’s a flexible, high-precision way to express your market view, whether you're riding a trend or hedging risk.
How It Works:
Let’s say you believe BTC/USDT will rise. You can go long on BTC Perpetual, and profit if the price goes up. If you think it's going to drop, you can go short and profit as it falls. You don’t need to own BTC. You’re simply trading on the price movement.
Key Features:
No expiry: Stay in the trade as long as you like
Leverage: Control a larger position of up to 50x, with a smaller initial margin
Instant control: Close your trade any time.
Funding fees: Longs and shorts pay or receive funding periodically to keep perp prices aligned with the spot market
Perpetual Swaps trading is currently available only to Accredited Investors in Singapore. Verify as an Accredited Investor now, and gain access to Spot Margin
Note: Payment token derivatives and other services (including margin borrowing and structured products) are provided by OKX Financial and are unregulated. OKX Financial is not licensed in any jurisdiction. See OKX Financial Terms of Service and Risk Disclosure.
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