How to Trade on OKX Block RFQ? Pricing, Execution, and Settlement

OKX

05 October 2026

OKX block RFQ trading is centered around using a Request for Quote (RFQ) to ask market makers for prices, rather than placing orders on the order book. After you send an RFQ, market makers will give you quotes. You accept the quote you like and the trade executes at that price. It is all-or-nothing, meaning there is no partial fill. The entire process stays off the public order book, so it leaves no trace on the candlestick chart and your large order will not push the market price down.

OKX Exchange
A leading global cryptocurrency platform,suitable for both beginners and experienced traders.
New user benefit: 20% off trading fees upon registration!！

Eligibility: You Need $100,000 in Your Account

To use OKX's block trading feature, your account needs to meet two conditions: complete KYC Level 2 verification, and have an account asset value of $100,000 or more. If you have completed identity verification and your assets exceed $100,000, you will see the "Liquid Marketplace" entry after going to OKX's "Trade" menu.

If your account assets are below $100,000, the system will prompt you to deposit more assets. This threshold limits block trading to high-net-worth individuals and institutions. Regular retail accounts usually cannot use it directly.

The Actual RFQ and Quoting Process

After entering the Liquid Marketplace, you will create an RFQ on the RFQ Builder page. The specific steps are as follows:

Step 1: Select the asset and instrument. Choose the cryptocurrency you want to trade from the list by searching its name or ticker. Then select the instrument type — spot, perpetual, futures, or options can all be executed through block trading. After that, use the "B" (Buy) or "S" (Sell) button to indicate whether you want to buy or sell, and enter the quantity.

Step 2: Set up a multi-leg strategy (optional). Block trading supports setting multiple "legs" in a single RFQ. For example, if you want to create a hedge strategy, you can add both "Buy BTC Perpetual" and "Sell BTC Futures" as two legs. Each leg can be edited individually for quantity, direction, or instrument type, with a maximum of 15 legs. The benefit is that all legs are executed at the agreed price at the same time, so you will not end up with only half of the position filled and unexpected exposure.

Step 3: Choose counterparties. You can specify which market makers to send this RFQ to. By default, all available market makers are selected, but you can also manually check specific counterparties. A single RFQ can select up to 15 counterparties. If a market maker does not provide quotes for a product included in your RFQ, they will be automatically removed from the selection list.

Step 4: Decide whether to stay anonymous. At the end of the RFQ, there is an "Anonymous" toggle. When turned on, your identity will not be visible to any counterparty, but OKX and customer support can still see it. Anonymity may provide better price protection for highly volatile coins, because counterparties cannot adjust their quotes based on your identity.

Step 5: Send the RFQ and receive quotes. After clicking "Send RFQ", the selected market makers will receive a notification and start quoting. A general trading RFQ is valid for 2 minutes, while options RFQs are valid for 10 minutes. The validity period of a market maker's quote is controlled by the market maker. You will see the quotes you receive on the RFQ Board and can freely choose which one to accept. Once you accept a quote, the trade is executed immediately in full.

How Pricing and Fees Work

The "Combo Price" shown on the RFQ Builder is calculated based on the latest best bid and ask midpoint on the order book. It is only a reference. The actual quote you receive from a market maker may not match the order book price, because block trades are negotiated privately outside the order book. The final price you pay or receive is the quote you accept, with no slippage.

Fees are charged according to your regular trading fee tier, but the role determines the fee type: the RFQ sender (Taker) pays the taker fee, while the quote provider (Maker) pays the maker fee. This means the fee logic for block trades is the same as spot market trading, except the execution method is private negotiation.

Block trade prices do not appear on the candlestick chart and do not enter market depth. This is a key advantage for large traders who do not want to reveal their trading intentions — the market will not react in advance because it sees your large order.

Settlement and Risks

Once a block trade is executed, all legs immediately become corresponding positions or assets, and then follow the platform's regular settlement and risk control rules.

Margin and liquidation rules still apply. If your block trade involves contracts or leveraged products, the platform's margin rate will be calculated after execution. When the margin rate is at or below 100%, forced deleveraging will be triggered. Block trading itself does not make you "immune" to liquidation risk.

Regarding the minimum trade amount, there are differences between official sources. OKX's Chinese FAQ shows a minimum of $10,000 for spot-only RFQs and $50,000 for other RFQs. However, the English FAQ and RFQ Builder documentation state a minimum notional value of $1,000. This difference may be related to region, account tier, or product type. The actual requirement shown in the RFQ Builder in your account should be used as the standard.

If you need to use block trading frequently, or want to become a quote provider (market maker), the requirements are higher. To apply as a quote provider, you need $200,000 in assets in your account and must submit an application to OKX by email for review by an account manager.