How to Convert Between 'Contracts' and 'Coins' on OKX?

OKX

24 October 2026

The key to conversion is not the "contract" itself, but the contract face value. OKX defines face value completely differently for USDT-margined and coin-margined contracts. Each USDT-margined BTCUSDT perpetual contract represents 0.01 BTC, while each coin-margined BTCUSD perpetual contract represents 100 USD in value. So if you say "I opened 10 contracts," that means 0.1 BTC under USDT-margined contracts, but 1,000 USD in notional value under coin-margined contracts. These two cannot be directly compared.

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USDT-Margined Contracts: Number of Contracts × 0.01 = BTC Amount

The face value of USDT-margined contracts is quoted in the underlying coin. For BTCUSDT perpetual contracts, OKX officially states that each contract represents 0.01 BTC. The conversion formula is simple:

BTC Amount = Number of Contracts × 0.01

Example (hypothetical scenario): You open 50 BTCUSDT perpetual contracts, which equals 50 × 0.01 = 0.5 BTC in notional position. If BTC price is 60,000 USDT, the notional value of this position is 0.5 × 60,000 = 30,000 USDT. Margin is calculated separately based on leverage; here we only calculate notional exposure.

Different USDT-margined pairs have different face values. BTCUSDT is 0.01 BTC, but other coins may differ. The most direct way to check the pair you are trading is to click the "more" icon in the top right corner of the contract trading page, then go to Market Information → Trading Rules and look at the "Contract Face Value" field.

Coin-Margined Contracts: Number of Contracts × 100 USD = USD Notional Value

The face value of coin-margined (inverse) contracts is quoted in USD. Each BTCUSD perpetual and delivery contract represents 100 USD worth of BTC. The conversion logic is:

USD Notional Value = Number of Contracts × 100 Corresponding BTC Amount = Number of Contracts × 100 ÷ BTC Price

Example (hypothetical scenario): BTC price is 60,000 USD, and you open 10 BTCUSD perpetual contracts. The notional value is 10 × 100 = 1,000 USD. Converted to BTC amount, it is 1,000 ÷ 60,000 ≈ 0.01667 BTC. Note that profits, losses, and margin for coin-margined contracts are all settled in BTC, not USDT. You need BTC in your account, not USDT.

Why These Two Numbers Cannot Be Directly Converted

Many people get stuck because they are used to "number of contracts × 0.01" under USDT-margined contracts, and then apply the same thinking to coin-margined contracts. The result is off by 100 times or more.

The two face values are anchored to different things. USDT-margined face value is anchored to coin quantity (0.01 BTC per contract), while coin-margined face value is anchored to USD value (100 USD per contract). Under coin-margined contracts, when the number of contracts is fixed, the corresponding BTC amount changes with price: when price rises, each 100 USD contract corresponds to less BTC; when price falls, it corresponds to more BTC. Therefore, the "contract to coin" conversion for coin-margined contracts must include the current price; it is not a fixed coefficient.

Additionally, one search result mentioned that "BTC/USDT face value is 0.001 BTC," which is inconsistent with the 0.01 BTC repeatedly appearing on OKX's official help pages and official posts. Trust the official help pages and official posts: BTCUSDT perpetual face value is 0.01 BTC. If you are trading other pairs, use the number shown in the "Trading Rules" section on the trading page. Do not apply the BTC coefficient to other pairs.

How to Use This When Placing Orders

If you prefer to think in terms of "coins" and do not want to calculate contract numbers every time, you can switch the quantity unit to "coin" in the order panel. Under USDT-margined contracts, after switching, you can directly enter how much BTC you want to open. Under coin-margined contracts, after switching, you can directly enter how much BTC or other underlying coin you want to open. But note: under coin-margined contracts, when you enter a BTC amount, the system converts it to contract numbers based on the current price. Since each contract has a fixed USD value of 100 USD, the actual number of contracts filled may differ slightly from your mental calculation due to rounding.

If you place orders by "contracts," remember to multiply by 0.01 for USDT-margined BTCUSDT, and multiply by 100 then divide by price for coin-margined BTCUSD. If you are unsure about the face value, check the trading rules page first. That is better than making a mistake from memory.