Interest is calculated hourly and charged once at the top of each hour (for example, 08:00, 09:00, 10:00). If you repay before the top of the hour, that full hour's interest is waived. If you repay after the top of the hour, that hour's interest has already been charged and will not be refunded.
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How Is Interest Calculated and Charged?
OKX margin interest is calculated hourly and charged hourly.
Interest calculation and deduction rules:
Recording time: OKX records your liability once every hour at the top of the hour (for example, 23:00).
Deduction time: Interest is deducted right after recording, and the whole process is completed within 3 minutes.
Liability used for interest: Interest = liability above the interest-free limit × daily interest rate of the coin / 24.
Key rule: if you repay before the top of the hour, no interest is charged.
Example: You borrow 10,000 USDT at 22:55. The system does not record interest at 22:55. At 23:00, if the system sees that you still have the liability, it calculates the interest and deducts it around 23:01. If you repay at 22:57, this loan will not generate any interest.
Important risk: Do not focus only on the exact top of the hour. The system needs about 10 minutes to calculate interest. If you repay at 22:58, but the system has already counted your liability between 22:55 and 23:00, the interest may still appear in your bill. The safest approach is to repay a few minutes early instead of waiting until the last minute.
Interest-Free Limit in the General Account
In cross-currency cross-margin mode, unrealized losses from futures trading have an interest-free limit. For example, the USDT interest-free limit is 20,000 USDT + Max(0, USDC cross-margin equity). Liabilities within the interest-free limit do not accrue interest. Only the part above the limit is charged according to the rules above. Spot margin and isolated margin modes do not have an interest-free limit, so interest starts as soon as you borrow.
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What Should You Pay Attention to When Repaying?
Repayment order: When closing a position or repaying manually, interest is repaid first, and principal is repaid second.
Cross-currency repayment: If the liability is not in a stablecoin, you can buy or transfer the required liability coin directly to repay.
