How to close OKX contracts

Closing contracts on OKX involves selecting the contract, choosing the closure type (long or short), entering the closing price, setting leverage, and confirming the closure to complete the process.

Nov 21, 2024 at 12:51 am

How to Close OKX Contracts

OKX, one of the world's leading cryptocurrency exchanges, offers a comprehensive suite of trading services, including perpetual contracts. These contracts allow traders to speculate on the future price of an underlying asset, such as Bitcoin or Ethereum, without having to take ownership of the asset itself.

Closing a contract on OKX involves the following steps:

1. Navigate to the Contracts Page

Log in to your OKX account and click on the "Contracts" tab located at the top of the homepage.
This will take you to the contracts page, where you will see a list of all available contracts.

2. Select the Contract You Want to Close

Find the contract you wish to close from the list of available contracts.
Click on the contract's name to open its individual page.

3. Choose the Type of Closure

On the contract's individual page, you will see two options for closing the contract:
- Close Long: This option is used to close a long contract, which means you are betting that the price of the underlying asset will rise.
- Close Short: This option is used to close a short contract, which means you are betting that the price of the underlying asset will fall.

4. Enter the Closing Price

Enter the desired closing price for the contract.
You can also choose to use the "Market Price" option to close the contract at the current market price.

5. Set the Leverage

If you are using leverage, you will need to set the leverage ratio for the contract.
Leverage can increase your potential profits but also your risk.

6. Confirm the Closure

Once you have entered all the necessary information, click on the "Confirm" button to close the contract.
A confirmation message will appear, and the contract will be closed.

Additional Notes:

You can also close a contract by using the "One-Click Close" option, which allows you to instantly close the contract at the current market price.
If you have multiple positions in the same contract, you can close them all at once by using the "Close All" option.
You can view your closed contracts in the "Order History" section of your OKX account.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

FORTH

$5.0430

39.35%

Trade Now
MNT

$0.2693

18.36%

Trade Now
SOS

$0.9680

13.14%

Trade Now
VVV

$5.8066

11.49%

Trade Now
VINE

$0.1474

10.88%

Trade Now
ENJ

$0.1298

9.55%

Trade Now

Latest Crypto News

BlackRock Acquires $276M Worth of Ethereum, Signaling Growing Institutional Interest in the Cryptocurrency
2025-02-06 03:41:02
RWA Sector Surges as Ondo Finance Introduces Platform to Bring Real-World Assets onto the Blockchain
2025-02-06 03:31:01
19,000 ETH Exits Coinbase as New Crypto Whale May Be Entering the Market
2025-02-06 03:31:01
XRP, ADA, UNI Tokens Struggle for Stability, BeerBear Meme Token Gains Momentum Targeting 500x Gains
2025-02-06 03:31:01
Ethereum Price Declines Amid Market Volatility
2025-02-06 03:31:01
Rexas Finance (RXS): A Strong Competitor to Solana (SOL) in the Tokenization Market
2025-02-06 03:31:01

Related knowledge

What are the impacts of different contract leverage multiples?

Dec 16,2024 at 12:46pm

Impacts of Different Contract Leverage MultiplesLeverage, a tool leveraged in the financial realm, amplifies trading activities and enhances potential returns while simultaneously magnifying risks. Understanding the implications of varying leverage multiples is paramount for savvy traders. This article delves into the impacts of different contract lever...

Which is more suitable for novices, contract trading or margin trading on Huobi.com?

Dec 16,2024 at 12:44pm

Which is More Suitable for Novices: Contract Trading or Margin Trading on Huobi.com?As a novice trader venturing into the world of cryptocurrency trading, the choice between contract trading and margin trading on Huobi.com can be a daunting one. Both instruments offer unique advantages and drawbacks, making it crucial to understand their key differences...

What does the leverage ratio of contract trading mean?

Dec 16,2024 at 12:43pm

What does the leverage ratio of contract trading mean?IntroductionLeverage ratio is a key concept in contract trading, allowing traders to gain exposure to a larger position than their initial capital would allow. This can potentially amplify both profits and losses, making it crucial for traders to understand its implications.Understanding Leverage Rat...

What scams exist in leveraged trading of virtual currency contracts?

Dec 16,2024 at 12:42pm

What Scams Exist in Leveraged Trading of Virtual Currency Contracts?Leveraged trading of virtual currency contracts, also known as margin trading, can be a lucrative way to increase your profits. However, it is important to be aware of the various scams that exist in this market so that you can protect yourself from losing your money.Pump-and-dump scams...

What is 20x leverage on Bitcoin contracts?

Dec 16,2024 at 12:40pm

What is 20x Leverage on Bitcoin Contracts?IntroductionLeverage is a powerful tool in the world of trading that can magnify both profits and losses. However, it's essential to understand the risks involved before using leverage, especially when trading volatile assets like Bitcoin. In this comprehensive guide, we will delve into the concept of 20x levera...

What is the difference between Huobi’s margin trading and contract trading?

Dec 16,2024 at 12:39pm

Understanding the Distinctions between Huobi Margin Trading and Contract TradingIntroductionHuobi, a leading cryptocurrency exchange, offers diverse trading options to cater to traders' varying risk tolerance and investment goals. Among these options are Margin Trading and Contract Trading, each with distinct features and trading mechanisms. This compre...