The OKX Trading Competition presents an exciting opportunity for traders to showcase their skills and compete for significant rewards. This event is designed to test your trading strategies in a dynamic market environment. Understanding the structure, rules, and participation criteria is essential for anyone looking to engage in this competitive trading arena.
This guide provides a comprehensive overview of the competition's mechanics, eligibility requirements, and key calculation methods to help you prepare effectively.
Competition Timeline and Reward Distribution
The competition runs from 26 August at 00:00 UTC to 15 September at 23:59 UTC. This period allows participants ample time to execute their trading strategies and climb the leaderboard.
Following the competition's conclusion, the calculation and distribution of rewards will be completed within 30 business days. This ensures that all participant data is accurately verified and prizes are allocated fairly to the top performers.
How to Enter the Competition
Participating in the competition requires a specific action to ensure your registration is valid.
- You must click the "Join Now" button on the competition page.
- After clicking, verify that the button's status changes to "Joined".
- Only upon this confirmation will your participation be considered officially registered.
Failing to complete this step will void your entry, so double-check your registration status before the competition begins.
Eligibility and Trading Requirements
To maintain a fair and competitive environment, OKX has established clear eligibility criteria focused on account assets and trading activity.
Minimum Asset Threshold
Your main trading account balance must reach at least 100 USDT at any point during the competition period. The clock for calculating your profit and loss (P&L) starts from the moment you first meet this asset qualification and continues until the competition ends. This timeframe is officially referred to as your "P&L Period."
Trading Volume Requirement
Your trading activity must meet a minimum threshold to qualify for the leaderboard. Your USDT perpetual contract trading volume must be greater than or equal to 5,000 USDT. This volume is used to calculate your final P&L percentage. Any participant failing to meet this trading volume requirement will have their score deemed invalid and will be excluded from the final rankings.
Please note: All data displayed on the competition leaderboard page is not in real-time and will have a certain delay. For the most current information, refresh the page periodically.
Understanding the Profit and Loss Calculation
Your ranking in the competition is determined by your P&L percentage (P&L%), calculated using a specific formula.
P&L% = P&L / (Initial Equity + Total Deposit Amount) * 100%
To understand this fully, let's break down the components of this equation.
Key Components Defined
- P&L: This figure represents your total profit and loss and is calculated as: [Unrealised P&L + Realised P&L - Initial Unrealised P&L].
- Initial Equity: This is the USDT balance in your main trading account measured during the first five minutes of your P&L Period. Withdrawals or subsequent losses do not affect this initial snapshot.
Total Deposit Amount: This is the sum of:
- Any USDT transferred from your non-trading OKX accounts (e.g., funding account) to your main trading account during your P&L Period.
- Any USDT obtained from spot trades within your main trading account during this period.
- Any USDT obtained from contract vouchers.
- Initial Unrealised P&L: This is the value of your open USDT perpetual swap positions at the very beginning of your P&L Period.
How Transfers Impact Your Calculation
Movements of funds between your accounts can directly impact your P&L% calculation.
- Transferring USDT into your trading account from a funding account counts as a deposit.
- Withdrawing USDT out of your trading account and then transferring it back later will also be counted as a new deposit when the funds return.
Managing your capital movements strategically is crucial for an accurate and favorable P&L calculation. 👉 Explore more strategies on effective capital management during trading competitions.
Eligible Trading Products
The competition focuses solely on a specific derivative product.
- Only USDT perpetual swap trading pairs are eligible for this event.
- Trading volume is calculated strictly from trades executed using your own funds.
- The use of most platform rewards, such as rebate cards and contract experience coupons, is not counted towards your qualifying volume. The exception is trading bonus rewards, like futures credit, received from successful account registration during the campaign period.
Frequently Asked Questions
What happens if I forget to click "Join Now"?
If you do not click the "Join Now" button and confirm it changes to "Joined," your participation will be considered invalid, even if you meet all other trading and asset criteria. Always verify your registration status.
How often is the leaderboard updated?
The leaderboard data is not real-time and is updated with a delay. For the most accurate reflection of your standing, refresh the competition page periodically to see the latest data.
Do trades in all futures contracts count toward the volume?
No, only trades in USDT perpetual swap contracts contribute to your qualifying trading volume. Trades in other derivatives, like coin-margined swaps or futures, will not count.
Why did my P&L% change after I transferred funds?
Your P&L% is calculated using your Initial Equity plus your Total Deposit Amount. Transferring funds into your trading account increases your Total Deposit Amount, which can alter the denominator in the P&L% formula and thus change your percentage.
What is the difference between realised and unrealised P&L?
Realised P&L refers to the profit or loss from positions that have already been closed. Unrealised P&L refers to the profit or loss on positions that are still open and fluctuating with the market price.
When will I receive my reward if I win?
Rewards will be calculated and distributed to winners within 30 business days after the competition ends on September 15. This processing time allows for a thorough review of all trades to ensure fairness.