How to Set Up Automated Lending on OKX with LendPace
Start Earning on Your Idle OKX Assets in 5 Minutes
You have USDT or USDC sitting in your OKX account, doing nothing. OKX's Simple Earn Flexible lets you lend those idle funds and earn interest — but doing it manually means constantly checking rates, adjusting your minimum APR, and remembering to subscribe new deposits.
LendPace now supports OKX lending. Set it up once, and the bot runs around the clock — automatically subscribing idle funds, dynamically adjusting your minimum lending rate based on market data, and putting new deposits to work as soon as they arrive.
This guide walks you through the entire setup from scratch.
Before You Start
Make sure you have:
- ✅ An OKX account (identity verification completed)
- ✅ At least 150 USDT or 150 USDC in your account
- ✅ A LendPace account with an active subscription plan
Step 1: Create an API Key on OKX
- Log in to your OKX account
- Click your profile icon → API → Create V5 API Key
- Select "API Trading" mode
- Set a name for the API key (e.g.,
LendPace Bot) - Set a passphrase — this is a required third credential for OKX. Save it securely
- Complete email and two-factor verification
Permission Settings (Critical Step)
You only need to enable one permission:
| Permission | Status | Purpose |
|---|---|---|
| Simple Earn | ✅ Enable | Subscribe, redeem, set lending rate |
| Trading | ❌ Disable | Not needed — LendPace doesn't trade |
| Withdrawal | ❌ Disable | Never enable this |
Important: LendPace never requires withdrawal permissions. Even if your API key is compromised, no one can move funds out of your OKX account.
After creation, you'll receive three pieces of information:
- API Key — your identifier
- Secret Key — your password
- Passphrase — the passphrase you just set
Save all three securely. The Secret Key cannot be viewed again after leaving the page.
Step 2: Connect OKX in LendPace
- Log in to LendPace and go to the Settings page
- In the "API Key" section, select OKX from the dropdown
- Paste your API Key, Secret Key, and Passphrase
- Click "Add"
The system will automatically verify your credentials. A green success message means you're connected.
Step 3: Start the Lending Bot
After connecting, go back to the Dashboard. You'll see an OKX tab with two currencies:
- USDT — the most liquid stablecoin globally
- USDC — exclusively supported on OKX, another major USD-pegged stablecoin
Select the currency you want to lend, choose a strategy, and click "Start."
Strategy Options
| Strategy | Best For | How It Works |
|---|---|---|
| High Yield | Maximizing returns | IBRR algorithm analyzes the market and waits for optimal rate conditions |
| Quick Fill | Keeping funds working | Submits at competitive rates for faster matching |
How OKX Lending Works
OKX lending has a key difference from Bitfinex and KuCoin: you don't place an order and wait for a borrower. Instead, you subscribe funds to Simple Earn Flexible, and OKX's platform automatically matches lenders with borrowers every hour.
The LendPace bot does two things each cycle:
- Subscribe idle funds — if your OKX account has new deposits, the bot automatically puts them into Simple Earn
- Adjust the minimum rate — analyzes market data to set an optimal minimum APR, ensuring you're not matched at below-market rates
You don't need to worry about rate decisions. The bot continuously tracks the market and sets a smart floor for you.
Redeem Anytime
OKX Simple Earn Flexible is a flexible product with no lock-up period. When you stop the LendPace bot, the system automatically redeems all your funds from Simple Earn back to your OKX account.
No manual action needed. No waiting for maturity dates.
FAQ
What's the minimum amount for OKX lending?
150 USDT or 150 USDC. Below this threshold, the bot skips the cycle and waits for sufficient balance.
What kind of rates can I expect?
OKX USDT lending rates typically range between 3-12% APR, depending on market demand. USDC rates are generally slightly lower than USDT.
Does OKX charge fees?
Yes, OKX takes a 15% service fee from lending interest. You receive 85%. The rates shown in LendPace already reflect this.
Can I lend on multiple exchanges at the same time?
Absolutely! LendPace supports managing lending bots across Bitfinex, KuCoin, and OKX simultaneously, all visible from a single Dashboard.
This does not constitute investment advice. Cryptocurrency markets are highly volatile, and past performance does not guarantee future results.
👉 Get Started with LendPace | Compare All Three Exchanges | How IBRR Works
