Expiry Futures Trading in Singapore, on OKX: What It Is, How It Works, and What to Know
Expiry Futures are crypto derivatives that let you trade an asset’s future price with a key difference:
They come with a fixed settlement date.
This means your open position will automatically settle at expiration (unless you close it earlier), based on the contract’s terms. These products are designed for traders with clear market outlooks and strategic timeframes, such as institutions or advanced users running hedge strategies.
Feature | Perpetual Swaps | Expiry Futures |
|---|---|---|
Expiry | No expiry. Open/close anytime | Fixed expiry date. Auto-settles if not closed |
Funding Costs | Periodic funding fees | No funding fees |
Best For | Short-term trading, high flexibility | Longer-term positions, hedging strategies |
Liquidation Risk | Margin-based. Positions can close any time | Less volatile for longer-term expiries |
Leverage | Up to 50x | Up to 20x |
Benefits of Expiry Futures
Predictable structure for longer-term positions
No ongoing funding fees like perps
Ideal for hedging exposure or expressing macro market views
Available in weekly, bi-weekly, quarterly contracts
Access up to 20× leverage on supported pairs
In summary, Expiry Futures offer a structured, time-based way to trade or hedge crypto markets.They’re ideal for investors with a clear view on price over time, be it it’s one week out or a full quarter. You get:
Predictable expiry and settlement
No hidden costs from funding rates
The ability to trade up or down, with leverage
Read more about the expiry futures contract generation here.
Understanding margin and liquidation
When you open an Expiry Futures position, you don't need to put up the full value of the trade. Instead, you deposit a smaller amount called "margin" as collateral. This is what makes leveraged trading possible: $1,000 of margin at 10x leverage lets you open a $10,000 position.
How margin works
Only funds in your trading account count as margin. Assets held in your funding or Earn account cannot be used as collateral. Make sure your trading account is funded before and during an open position. When trading derivatives on OKX, your maximum loss is limited to the funds in your trading account.
Initial margin is the minimum amount required to open a position. The higher the leverage, the less margin you need upfront, but the less room your position has to move against you before liquidation occurs.
Maintenance margin is the minimum amount you need to keep your position open. You can track your maintenance margin ratio (MMR) in the trading interface. If MMR falls to 100% or below, liquidation is triggered.
What is liquidation?
If the market moves against your position and your MMR falls to 100% or below, OKX will automatically close part or all of your position. This happens at the prevailing market price, which means the final closing price for your position may differ from what you expect. Liquidation can happen quickly in volatile markets. You will not receive a grace period.
Managing your risk
Set liquidation alerts to get notified when your MMR approaches 100%, and check your MMR regularly, especially in volatile markets. This gives you time to add margin or reduce your position to avoid liquidation.
Set stop-loss orders before entering a trade to limit your downside
Use lower leverage if you're new to derivatives - a smaller position size gives you more margin buffer
Derivatives trading carries significant risk. You can lose all of your collateral. Trade carefully and consider your risk tolerance when sizing your positions.
Expiry Futures trading is available to OKX Singapore users who complete a suitability quiz. Take the quiz now, and gain access to Expiry Futures.
Note: Payment token derivatives and other services (including margin borrowing and structured products) are provided by OKX Financial and are unregulated. OKX Financial is not licensed in any jurisdiction. See OKX Financial Terms of Service and Risk Disclosure.
