When borrowing on OKX for the first time, you can see the interest rate directly on the borrowing page. Before placing an order, make sure to check two things: the real-time interest rate and the interest calculation rules.
Step 1: Go to the Borrow Page and View the Current APR
Find the borrowing rate for the coin you want. Open the OKX App, go to the Trade page, switch to the Margin tab, and select your trading pair (e.g. BTC/USDT). Tap the Borrow button in the top right corner. The system will show the current annualized interest rate and estimated daily interest for that coin. You can also hover over the "i" icon next to the rate on the borrow page to see more detailed real-time annualized rate.
Once you can see the live annualized rate for the target coin, you've completed this step.
Case A: The rate is shown as a daily rate (e.g. 0.02%) Multiply the daily rate by 365 to get the annualized rate (simple interest). This makes it easy to compare with other platforms or products.
Case B: The rate is shown as an annualized rate Just read the number, but remember this is simple interest, not compound interest.
Step 2: Confirm the Interest Calculation Rules
Understand how interest is calculated and when it is deducted so you don't face unexpected costs. Read the interest explanation on the borrowing page. OKX margin borrowing charges interest on an hourly basis, deducted at the start of every hour (UTC). The interest is not taken all at once when you borrow.
Here are the key rules:
When interest starts: From the moment your borrowed coins enter your account. If you borrow one minute before an hour (e.g. 22:57 UTC), the interest for that hour is recorded and deducted at 23:00 UTC.
Deduction time: Every hour on the hour (UTC).
Interest currency: Interest is paid in the same coin you borrowed. Borrow BTC, pay interest in BTC; borrow USDT, pay in USDT.
Minimum interest: If a single interest charge is less than 0.0001 units of the coin (e.g. 0.000083 USDT for borrowing 100 USDT), the system waives the interest.
Risk reminder: OKX interest rates are dynamic and updated every hour based on market supply and demand. The rate you see when placing an order may not stay the same throughout your borrowing period. Check the current real-time rate before confirming to avoid cost surprises.
Common Mistakes
Thinking a daily rate is the annualized rate, which underestimates the real cost. A daily rate of 0.02% equals 7.3% annualized.
Not checking your borrowing history after taking a loan, so you don't know when the next interest charge will happen. Interest is deducted on the hour (UTC), not according to the exact time you borrowed.
Assuming interest is calculated precisely by the number of hours you hold the loan. The system counts full hourly intervals; even a few minutes count as one hour. For example, borrowing at 22:55 and interest deducted at 23:00 means that hour is still charged.
Next Steps
On the borrow page, confirm the coin, amount, real-time rate, and estimated interest, then tap Borrow to submit your order. After a successful borrow, go to Margin Account > Borrow History to view your borrow record and subsequent interest deduction details.
