After an auto-borrow order is executed, interest begins to accrue from the next full hour (UTC time) and is deducted once every hour. If you repay before the next full hour, no interest will be charged.
1. When does interest start accruing?
Core rule: Interest is recorded and deducted at each full hour, not at the moment of execution. The system uses 00:00 UTC as the baseline, calculating and deducting interest for the preceding hour at every full hour.
Examples:
Borrow executed at 22:55: No interest is recorded at 22:55. At 23:00, the system calculates and deducts the interest for the 22:00–23:00 hour.
If you repay at 22:57: Since no full hour has passed within this period, no interest is charged for this borrow.
Therefore, interest does not start from the moment of execution, but from the first full hour after execution.
2. Special case: interest-free allowance in cross-currency mode
In cross-currency margin mode, liabilities resulting from unrealised PnL of contracts have an interest-free allowance. The portion within the allowance is not charged interest.
USDT interest-free allowance: 20,000 USDT
BTC interest-free allowance: 1 BTC
For allowances of other currencies, refer to the margin interest rules introduction.
Only the portion exceeding the interest-free allowance incurs interest.
3. How to verify if interest has been deducted correctly
Step 1: Check the borrow time
What to do: Find the borrow record in "Transaction Details" or "Borrow History" on OKX.
How to do it: Note the exact time (down to the minute) when the borrow succeeded. Interest starts accumulating from the next full hour.
Step 2: Check interest deduction records
What to do: Go to Assets → Transaction Details and filter by the "Borrow Interest" type.
How to do it: Compare the timestamps of interest deductions. For example, if you borrowed at 22:55, the first deduction should appear at 23:00, followed by one deduction every 60 minutes.
When it's done: The timing and frequency of deductions match the rules.
Step 3: Calculate single-hour interest
What to do: Use the formula: liability amount × daily interest rate of the currency ÷ 24 to calculate the hourly interest.
How to do it: The daily interest rate can be found under Market Info → Margin Lending at the top right corner of the trading page. Compare the result with the interest deduction record.
When it's done: The deducted amount matches your calculated result.
Prerequisite: You have enabled the OKX auto-borrow function and have an active borrow liability.
Risk reminder: Even if you close your position before a full hour, any interest already incurred within that hour will still be deducted. Interest is only avoided if the entire borrow period does not cross a full hour (e.g., borrow at 22:55, repay at 22:57).
After performing the above checks, how can you confirm the interest is correct?
Open OKX, go to Assets → Transaction Details, list the deduction times and amounts under "Borrow Interest", calculate the single-hour interest using the formula above, and see if the numbers match. If you find an overcharge, contact customer support and provide screenshots of the interest deduction records for the relevant period.
