How do I start trading X-Perps on OKX?

This guide explains how to trade X-Perps (Expiry Perps) on OKX.

It covers:

• Placing a trade from the chart

• Placing a trade from the order panel

• Choosing limit vs market

• Setting take-profit / stop-loss (TP/SL)

• Reviewing liquidation price

• Cancelling an order if you change your mind

Before you place an X-Perps order

Please make sure:

• Your appropriateness assessment is completed (required before accessing X-Perps)

• You have selected the correct X-Perps contract

• Your funds are in the correct account path (most setups require a transfer from Funding to Trading)

• Your margin mode is set as intended (consider portfolio margin if you hold spot positions)

• Your leverage is set as intended (up to 10x available)

• You understand the risk of liquidation

• You understand that a funding rate applies and will affect your position over time

Place an order

Method 1: place an order from the chart

On the web

1. Open the X-Perps trading page and hover over the chart.

2. Look for the plus (+) on the right side of the chart.

   

   Select + to place an order from the chart

3. Select Place a new order.

4. Select the order type (for example, a limit sell order).

5. Choose your price and the size of the position you want to open.

6. Submit the order. If you change your mind, hover over the order and click the X to cancel.

   

   Click the X to cancel the order
   

On the app

1. Open the OKX app and go to Trade

2. Select Futures > X-Perps contract you want to trade

3. In the order panel, select the order type (for example, Limit or Market)

4. Enter order details: price (for limit), the Amount you want the position to be, and optional TP/SL

5. Select Buy/Long or Sell/Short

6. Review margin mode, leverage, and order details and Place Order / Confirm.

Method 2: Place an order from the order panel

The order panel is where most users will place the majority of their X-Perps trades.

1. Confirm the order type

Limit is typically selected by default.

• Limit order — gives you more price control, but execution isn't guaranteed if the market never reaches your price

• Market order — aims to execute immediately at the best available price, but the final execution price may differ from the displayed price in fast-moving markets (slippage)

2. Enter your order amount

The Amount field is the size of the position you're opening, not the margin you're putting up. Leverage decides how much margin that position requires: the initial margin is the position value divided by your leverage. If you're using portfolio margin, the margin requirement is calculated against your full account risk unit rather than against that position on its own.

3. Review your leverage

Up to 10x leverage is available for X-Perps. Higher leverage increases your exposure relative to margin, but also increases your liquidation risk if the market moves against your position.

4. Choose your direction: Long or Short

• If you expect the price to rise, choose Buy (Long)

• If you expect the price to fall, choose Sell (Short)

Does the Amount field mean position size or margin?

Applies to X-Perps orders placed from the order panel in Exchange mode.The Amount field is the size of the position you're opening. It isn't the margin you're putting up, and it isn't a fee. Leverage decides the margin: the initial margin is the position value divided by your leverage.When Amount is shown in the quote currency, for example USDC, the figure you enter is the notional size of the position. Enter an Amount of 1,000 USDC at 5x leverage and you open a 1,000 USDC position that requires around 200 USDC of initial margin. It doesn't become a 5,000 USDC position.When Amount is shown in contracts, or in units of the underlying, work out the position value first — multiply the number of contracts by the contract size and the price — and then divide by your leverage. The contract size for each contract is listed on the X-Perps contract specifications page, and the full formulas are in Futures margin calculation rules.The estimated profit shown next to a take-profit level is calculated on the position value, not on the margin. Calculation of contracts' profit and loss shows how that figure is derived.A trading fee is separate from margin. It's charged when the order fills, at the maker or taker rate for your fee tier, and the rates are listed on the CEX fee schedule.

Set TP/SL before placing the order

You can set TP/SL directly in the order flow using percentage-based inputs.Example:

• Take-profit: 10%

• Stop-loss: 5%

Setting TP/SL before entry helps you structure risk upfront, reduce emotional decision-making during volatility, and avoid having to react manually to every price move.

Review liquidation price before submitting

Before you submit your order, review the following in the order panel:

• Estimated liquidation price

• Position size

• Leverage

• Available margin

• Current funding rate

If the price reaches liquidation conditions under platform risk rules, your position may be liquidated. This is one of the most important checks before any X-Perps trade.

Which currency are the amounts on the order panel shown in?

Prices and balances on this screen follow your display currency preference. If they're showing in EUR and you'd rather see USD, you can change that in your preferences — see Preferences FAQ. Changing it affects only how amounts are displayed to you. It doesn't change the currency an X-Perps contract settles in, and it doesn't add a trading pair: each contract still settles in the currency stated in its contract specifications.

After you submit the order

Once your order is placed:

• Limit orders may appear as open orders and remain unfilled until the market reaches your specified price

• Market orders will typically fill immediately

• If a limit order fills, it becomes an active position

• You can cancel an unfilled limit order at any time if you change your mind

Market order vs limit order

Limit order:

• Use when price control matters more than immediate execution

• Trade-off: execution is not guaranteed

Market order:

• Use when you want the position opened immediately

• Trade-off: final execution price may differ from the displayed price (especially in fast-moving markets)

Advanced order types

• Take Profit / Stop Loss

• Trailing Stop

• Advanced Limit

• Trigger

• Scale Limit

If you're new to X-Perps, consider learning order types in this sequence: start with limit and market orders, then learn TP/SL, and then explore trigger and trailing stop orders.

First X-Perps trade checklist

Before placing a trade, confirm:

• Appropriateness assessment completed

• Correct contract selected

• Correct direction (long or short)

• Order type chosen (limit or market)

• Amount entered, and the margin it requires checked

• Leverage set (up to 10x)

• Margin mode confirmed (consider portfolio margin)

• TP/SL set (if using)

• Liquidation price reviewed

• Funding rate noted

• Available margin confirmed

• You're comfortable with the order sitting unfilled (if using a limit order)

Common beginner mistakes for X-Perps

• Placing a limit order and expecting immediate execution

• Forgetting to check liquidation price

• Using leverage without reviewing margin impact

• Not completing the appropriateness assessment before trying to trade

• Not setting any exit plan (TP/SL)

• Confusing open order with an active position

• Choosing the wrong direction (long vs short)

• Ignoring the funding rate on longer-held positions

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