Block trading has emerged as a powerful tool for traders looking to execute large cryptocurrency orders without disrupting market prices. On OKX, this functionality is made accessible through the Liquid Marketplace, a sophisticated yet user-friendly platform designed for high-value transactions. Whether you're a seasoned trader or new to institutional-grade features, OKX enables efficient, low-slippage trades at scale.
This guide walks you through the step-by-step process of conducting a block trade on OKX’s Liquid Marketplace, from account requirements to final execution. We’ll also explore key benefits and best practices to help you maximize your trading performance.
What Is Block Trading?
Block trading refers to the private negotiation of large-volume trades outside the public order book. This method minimizes price slippage and avoids signaling market intent—critical advantages when dealing with significant positions in volatile assets like cryptocurrency.
Unlike traditional exchanges where big orders can move the market, block trades occur directly between counterparties, ensuring discretion and better price execution.
👉 Discover how professional traders manage large crypto positions with minimal market impact.
Key Requirements for Using OKX Liquid Marketplace
Before accessing block trading on OKX, users must meet two primary criteria:
- Complete KYC Level 2 verification
- Maintain an account balance of $100,000 or more
While these thresholds may exclude casual traders, they ensure a secure and reliable environment for high-value transactions. Compared to traditional financial platforms that often require institutional affiliations, OKX offers a more inclusive gateway for qualified individuals and crypto-native investors.
Once verified and funded, you gain full access to the Liquid Marketplace and its advanced trading tools.
Step-by-Step Guide to Block Trading on OKX
1. Access the Liquid Marketplace
Log in to your OKX account and navigate to the Trade section from the homepage. Hover over "Trade" and select Liquid Marketplace from the dropdown menu.
Click “Start trading” on the landing page to enter the platform.
Note: If you haven't completed KYC Level 2 or your balance is below $100,000, you’ll receive a prompt guiding you through the necessary steps.
2. Build a Custom Request for Quote (RFQ)
Upon entry, you’ll land on the RFQ Builder page. Click "Build a new custom RFQ" to begin creating your trade request.
Next, choose the underlying asset you wish to trade—such as BTC, ETH, or other supported cryptocurrencies—by searching or scrolling through the list.
You can then select the specific instrument type: spot, perpetual swaps, futures, or options. The available instruments depend on the chosen asset.
Choose whether to buy (B) or sell (S), then enter the desired quantity. After inputting all details, click Done.
3. Manage Your Trade Legs
Your selected trade parameters will appear under the RFQ Builder section. Each entry is called a “leg.” You can:
- Adjust quantities using the Quantity field
- Remove a leg with the trash icon
- Clear all legs using Clear All
- Add multiple legs via Add/Edit Legs for complex strategies
This flexibility allows you to construct multi-instrument trades—ideal for hedging or deploying advanced arbitrage tactics.
👉 Learn how to build multi-leg crypto strategies for smarter risk management.
4. Select Counterparties and Send RFQ
After configuring your trade legs, choose which counterparties will receive your Request for Quote (RFQ) by checking their names in the list. You can send requests to up to 15 counterparties simultaneously, or use Select All for maximum exposure.
For enhanced privacy, check the box to submit your RFQ anonymously. This prevents counterparties from identifying your trading behavior patterns.
Double-check all details and click Send RFQ.
5. Review Quotes and Execute Trade
You’ll be redirected to the RFQ Board, where incoming quotes are displayed in real time. Each quote shows:
- Creation time
- Expiry countdown (quotes last 2 minutes)
- Bid and ask prices
- Status updates
Counterparties don’t know your intended trade direction, encouraging competitive pricing. They may quote both buy and sell sides—or just one.
When you find a favorable quote, click Buy or Sell accordingly.
A confirmation pop-up will appear with full order details. Review carefully and click Confirm Execute to finalize the trade.
The transaction executes off-chain, away from public order books, eliminating market impact and preserving your strategy confidentiality.
6. Track Completed Trades
Once executed, your trade status changes to Filled on the RFQ Board. You can review historical transactions in:
- The History tab at the bottom of the RFQ Board
- The Reports Center
- Email trade recaps (if enabled)
This transparency ensures full accountability and helps with performance tracking and tax reporting.
Why Use OKX Liquid Marketplace?
OKX stands out by making institutional-grade tools available to a broader audience. Here’s why traders choose OKX for block trading:
- Reduced slippage: Large orders don’t affect market price.
- Privacy protection: Anonymous RFQs prevent front-running.
- Multi-instrument support: Trade spot, futures, options, and more.
- Fast execution: Quotes expire in 2 minutes, promoting urgency and efficiency.
- User-friendly interface: Intuitive design lowers the learning curve.
These features make OKX ideal for traders managing substantial portfolios or executing time-sensitive strategies.
Frequently Asked Questions (FAQ)
Q: What is the minimum balance required for block trading on OKX?
A: You need an account balance of at least $100,000 to access the Liquid Marketplace.
Q: Do I need institutional status to use block trading?
A: No. While block trading is common among institutions, OKX allows eligible individual traders with KYC Level 2 and sufficient funds to participate.
Q: How long do quotes last on the RFQ Board?
A: All quotes remain active for 2 minutes before expiring automatically.
Q: Can I trade multiple assets in one RFQ?
A: Yes. Use the Add/Edit Legs feature to include multiple instruments and build complex trading strategies.
Q: Are block trades visible on the public order book?
A: No. Block trades are executed off-book, ensuring privacy and minimizing market impact.
Q: Is there a fee difference for block trading vs. regular trading?
A: Fee structures may vary; refer to OKX’s official fee schedule for updated rates based on volume and user tier.
Final Thoughts
Block trading on OKX’s Liquid Marketplace empowers traders to execute large cryptocurrency orders efficiently, privately, and with minimal slippage. With straightforward access requirements and an intuitive interface, it bridges the gap between retail and institutional trading capabilities.
Whether you're adjusting a major position or exploring advanced multileg strategies, OKX provides the tools and infrastructure needed for professional-grade results.
This content is provided for informational purposes only and may cover products not available in your region. It does not constitute investment advice, financial recommendations, or legal/tax guidance. Cryptocurrency holdings involve high risk and price volatility. Please consult a professional advisor before making any decisions. Market data is for general information; OKX assumes no liability for inaccuracies.
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