币界网报道：There are significant differences between OKX and Binance in the perpetual contract trading mechanism. OKX uses the middle price of buy 1 sell 1 as the mark price benchmark, with a relatively coarse price accuracy (0.0001), resulting in higher volatility and greater risk of liquidation, which is suitable for short-term high-frequency trading; while Binance calculates the mark price by taking the median of the spot index, the market price and the transaction price, with an accuracy of 0.000001, and introduces order book depth considerations to make the price more stable. In terms of funding rates, OKX only refers to the market price difference and sets the lending rate to zero, while Binance includes the lending cost (0.01%) and the impact price mechanism. This difference in the underlying algorithm makes OKX more suitable for high-volatility new currency contract transactions, while Binance's robust mechanism makes it more advantageous in large-scale fund management and new currency listing. The different design concepts of the two major exchanges reflect the philosophical divisions between the behavioral finance school and the quantitative finance school.