As part of its ongoing efforts to streamline user experience and enhance transparency in crypto savings products, OKX has announced that the “Market Rate” option in its Savings (formerly known as "Yu Bibao") service will be officially retired. Starting February 17, 2025, at 14:00 HKT, only the “Custom Rate” option will remain available for users wishing to lend their idle digital assets.
This change aims to give users greater control over their lending strategies while simplifying the interface and improving predictability in interest income. Whether you're a seasoned crypto saver or new to passive income in digital assets, understanding this update is essential for maximizing returns.
👉 Discover how to start earning with flexible crypto savings on OKX today.
Key Changes and What They Mean for Users
The removal of the Market Rate option marks a strategic shift toward user-driven interest rate settings. Here's what you need to know about the transition:
1. Automatic Migration for Existing Market Rate Users
Users who had previously subscribed under the Market Rate model before February 17, 2025, 14:00 HKT, will be automatically migrated to the Custom Rate system. Their funds will be listed at a default annualized rate of 1%, which can be adjusted at any time without penalty.
This ensures continuity of service—your assets won’t stop earning—but also empowers you to actively manage your yield based on current market conditions.
Note: Users already using Custom Rate are unaffected. Your existing rate settings remain unchanged and continue to apply normally.
2. Priority Based on Subscription Time
When multiple users set the same interest rate for the same cryptocurrency, subscription time determines lending priority. The earlier you subscribe, the higher your chances of being matched with borrowers.
For example:
- If User A and User B both set a 5% rate for USDT,
- But User A subscribed at 10:00 AM, and User B at 10:30 AM,
- Then User A gets priority in lending allocation.
If borrowing demand is limited, later subscribers may not get fully matched—or matched at all—until the next cycle.
Also important: if you make multiple subscriptions for the same asset, only the timestamp of your latest subscription counts for queue positioning. So avoid unnecessary resubmissions unless adjusting your rate.
How the Custom Interest Rate Auction Works
Under the revised system, OKX runs an hourly auction to match lenders and borrowers using a transparent, time- and rate-based algorithm.
Here’s how it works:
Each hour, OKX assesses total borrowing demand across leveraged trading and other services. It then matches lenders based on two factors:
- The minimum annualized rate they’re willing to accept (their “floor” rate)
- Their subscription time
Lenders submit their desired minimum rate. The system then sorts all offers from lowest to highest. The highest accepted rate needed to fulfill all borrowing demand becomes the Current Lending Rate for that hour.
Outcomes Based on Your Rate Setting
| Your Minimum Rate vs. Current Lending Rate | Result |
|---|---|
| Lower than current | Fully matched; earn interest at the current (higher) rate |
| Equal to current | May be partially or fully matched, depending on queue position |
| Higher than current | No match; no interest earned this hour |
Let’s illustrate this with a real-world example:
Suppose total borrowing demand is 200 BTC in a given hour. Three users participate:
- User A: Offers 100 BTC at 10% (earliest subscription)
- User B: Offers 200 BTC at 20%
- User C: Offers 100 BTC at 20% (latest subscription)
The system accepts lower rates first. User A’s 10% offer is accepted in full. That fulfills 100 BTC of demand. The remaining 100 BTC is covered by User B at 20%, which sets the Current Lending Rate at 20%.
Even though User C also offered at 20%, their later subscription means they’re last in line—and since demand is already met, they receive no match this hour.
👉 See how hourly interest auctions work and start optimizing your lending strategy now.
Interest Settlement and Earnings Timing
Timing matters—not just for matching, but for payouts.
When you successfully lend during an hourly auction:
- Interest is calculated immediately
- Payout occurs for the full T to T+1 hour period
- For example: A successful match at 3:00 PM earns interest from 3:00 PM to 4:00 PM
Borrowers pay interest hourly on the dot, ensuring fast and predictable returns for lenders.
All earnings are credited directly to your account in the lent asset—no delays, no complex compounding schedules.
How to Access Savings on OKX
Navigating to the Savings page is simple:
On Web:
- Go to the top navigation bar
- Click Finance > Earn
- Select Savings and choose your preferred cryptocurrency
On Mobile App:
- Open the app homepage
- Tap Savings (usually under “Earn” or “Wealth” section)
- Choose your asset and set your custom rate
You can adjust your rate anytime based on market trends—such as increased leverage activity or volatility spikes—which often drive up borrowing demand and potential yields.
Why This Change Benefits Savers
While removing the Market Rate option may seem like a reduction in choice, it actually enhances clarity and control.
Previously, Market Rate users had no visibility into when or how much they’d earn—it was fully automated and opaque. Now, with Custom Rate:
- You decide your minimum acceptable return
- You can react quickly to market shifts
- You understand exactly why a match succeeded or failed
This promotes more informed decision-making and aligns with OKX’s mission to build a transparent, user-first financial ecosystem.
Moreover, during high-demand periods (like volatile markets or major price moves), setting a competitive yet reasonable rate can ensure consistent matching—and steady income.
Frequently Asked Questions (FAQ)
Q: Why is OKX removing the Market Rate option?
A: To simplify the user experience and provide greater transparency and control over lending rates. The Custom Rate model allows users to make informed decisions based on real-time market conditions.
Q: Will my funds stop earning after the change?
A: No. If you were using Market Rate, your funds will automatically be listed at 1% under Custom Rate and continue earning. You can adjust this rate anytime.
Q: How often does the lending rate change?
A: The Current Lending Rate is recalculated every hour based on borrowing demand and lender submissions.
Q: Can I increase my chances of being matched?
A: Yes. Set a competitive rate and subscribe early. Avoid resubscribing frequently, as only your latest subscription time counts.
Q: What happens if I’m not matched in an hour?
A: Your order remains active and automatically rolls into the next hourly auction. No action is needed.
Q: Are there fees for using Savings with Custom Rate?
A: No. OKX does not charge any fees for participating in the Savings program.
Final Thoughts
The shift to Custom Rate only in OKX Savings reflects a broader trend in crypto finance: empowering users with transparency, predictability, and control. By retiring the opaque Market Rate model, OKX enables savers to take charge of their yield strategies—making passive income more active, informed, and rewarding.
Whether you’re holding BTC, ETH, USDT, or other major assets, leveraging idle balances through hourly auctions can generate meaningful returns with minimal effort.
👉 Start earning hourly interest on your crypto with OKX Savings now.
As always, monitor market conditions, adjust your rates proactively, and use timing to your advantage. With the right approach, even small balances can grow steadily over time through disciplined participation.
Remember: Crypto markets are volatile. While Savings products are low-risk compared to trading, always do your own research and never invest more than you can afford to lose.