What are X-Perps? A Guide for European Traders

OKX Learn

Published on Apr 15, 2026

Updated on Aug 15, 2026

FAQs

X-Perps on OKX are available only to eligible traders in the EEA and are offered by OKX Europe Markets Limited. Availability may vary depending on your country of residence and account status.

No. X-Perps are contracts linked to the price of an asset. You do not need to own the underlying asset to open a position, but you do need to have margin deposited in your account.

If you hold an open X-Perps position until the settlement date, it will be cash settled at the settlement price. Most active traders close their positions well before settlement. Check the OKX Help Centre for full details on how settlement works.

OKX’s risk management system is designed to prevent accounts from going into a negative balance. If your margin falls below the maintenance level, your position will be liquidated before your losses exceed your deposited margin. However, losses can still be significant and can happen quickly. Important note: Never trade with funds you cannot afford to lose.

A gain occurs when the market moves in the direction of your position. A loss occurs when it moves against you. Both are amplified by leverage. A 10 percent move in your favour at 10x leverage produces a 100 percent return on margin. The same 10 percent move against you produces a 100 percent loss on margin.

Disclaimer

This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto/digital assets, or (iii) financial, accounting, legal, or tax advice. Crypto/digital asset holdings, including stablecoins, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding crypto/digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein.

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