Funding fee settlement does not count toward trading volume. Trading volume measures the filled amount when you buy or sell contracts. The funding fee is a cash flow transferred directly between position holders. The platform only matches the fund exchange between long and short sides and does not collect this part as a fee.
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The two are completely different in nature
Trading volume refers to the notional value filled when you open or close a position. For example, if you open a BTC contract worth 10,000 USDT with 10x leverage, that 10,000 USDT is counted toward your trading volume.
Funding fee is a mechanism unique to perpetual contracts. Its purpose is to bring the contract price closer to the spot price. When the funding rate is positive, longs pay shorts. When it is negative, the opposite happens: shorts pay longs. This money is transferred directly between long and short sides. The platform does not take a cut from it, and it is not included in your trading volume.
Why do some people confuse the two?
Because the funding fee does affect your final profit and loss. According to the official explanation from OKX, net profit is affected by three factors: trading fees, funding fees, and execution-related factors. If your position crosses a funding settlement time point, usually every 8 hours, though some contracts settle every 1, 2, or 4 hours, the funding fee will be included in your account profit and loss. But it is not part of trading volume.
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Quick reference table of key differences
| Comparison | Trading fee | Funding fee |
|---|---|---|
| When it occurs | When opening or closing a position | When a position crosses a settlement time point, usually every 8 hours |
| Counted toward trading volume | ✅ Yes, the notional value of opening and closing is counted | ❌ No, it is a cash flow transfer between long and short sides |
| Recipient | Platform | Counterparty, longs pay shorts or vice versa |
| What it affects | Trading cost | Position cost or profit |
If you want to know how much funding fee you have paid in total, you can go to Contracts Account → Transaction Details on OKX and filter by the "Funding Fee" type. That amount is listed separately and will not be mixed with trading fees.
