Borrowing on Spot margin: how to open a position, how much you can borrow, and how to repay

Published on Dec 12, 2025Updated on Sep 4, 20265 min read
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How do I open a Spot margin position?

Applies to: Spot margin trading in the order panel on the Spot and margin page.Margin isn't a separate product on OKX — it's part of the Spot trading page.

  1. Go to Trade > Spot and margin.

  2. Check that the mode selector at the top of the order panel is set to Spot, not Futures.

  3. Turn on the Margin toggle in the order panel.

  4. Choose your leverage and place your order.

There's no separate borrow button to press, and no loan application to submit.

Why does a loan appear in my account without a matching order?

Applies to: positions opened with the Margin toggle turned on.On Spot margin the borrow happens automatically, when your order needs more of an asset than you hold. The loan is a side effect of the trade, not a separate transaction, so it's normal to see a borrowed amount in your account with no separate borrow order next to it. The trade itself appears in your order history, and the borrowed amount appears as an outstanding loan on the asset you were short of.

How do I repay a Spot margin loan, and can I repay only part of it?

Applies to: an outstanding Spot margin loan.You can repay part of what you owe. You aren't required to clear the whole loan in one go — partial repayment is provided for in the Spot margin trading agreement. To repay through the order panel, place an order for the amount you want to repay with Auto-repay switched on. The proceeds of that order are applied to the loan, and the standard trading fee for your fee tier applies to that order.There's no fixed repayment date, so nothing closes the loan for you on a set day. Interest keeps accruing until the loan is repaid in full.

Why is my withdrawal blocked or reduced while I have a Spot margin loan?

Applies to: accounts with an outstanding Spot margin loan.A borrowed amount counts against your account equity, so while a loan is outstanding your withdrawable amount can be reduced, and a withdrawal can be blocked. This isn't a review of your account, and it isn't a restriction placed on you. Repay the loan to restore your withdrawal limit.

How is interest on a Spot margin loan charged?

Applies to: any outstanding Spot margin loan.Interest is accrued and deducted on an hourly basis, and it keeps accruing for as long as the loan is outstanding.The rate isn't fixed to the moment you borrowed. It follows the rate published for the asset you borrowed, and that rate moves — so check the current figure rather than the one you saw when you opened the position. Current borrowing rates per asset are published on the margin fees page, and the calculation is explained in How to calculate borrowing interest.

How much can I borrow, and why does my borrow limit change?

Applies to: Spot margin borrowing, per asset.Your borrowing limit isn't one number. Three separate ceilings apply at the same time, and whichever is lowest is what you can actually borrow:

  • the borrow limit for your account tier

  • the position tier limit for the specific asset you're borrowing

  • how much of that asset is currently available in the lending pool

Because the pool balance and the tiers move, your limit can change from one day to the next without anything changing on your side.Your account's current limit is shown in the order panel when you place the order. Published tier limits and rates per asset are on the margin fees page, and the mechanism is described in Introduction of margin.

Does a stop-loss order repay what I borrowed?

Applies to: stop-loss orders placed on a Spot margin position.No. A stop-loss is an order instruction, not a guarantee, and it doesn't settle what you borrowed. It's triggered by price, it doesn't guarantee that your full size fills, and your borrowing stays outstanding — with interest still accruing — until you repay it. Repay the loan as a separate step once a stop-loss has closed your position.

What happens if the market moves against a position I borrowed for?

Applies to: open Spot margin positions with an outstanding loan.In a fast-moving market a margin position can lose more than the equity behind it. If that happens you're left holding a liability to repay, and OKX may liquidate positions or enforce repayment to cover it. This is the central risk of borrowing to trade, and it's the reason to size a borrowed position well below the maximum the order panel will allow.Your obligations and the risks are set out in the Spot margin FAQ and the Spot margin trading agreement.

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