diff --git a/freqtrade/exchange/binance.py b/freqtrade/exchange/binance.py
index 21baa9124..ef5c65f5b 100644
--- a/freqtrade/exchange/binance.py
+++ b/freqtrade/exchange/binance.py
@@ -93,7 +93,7 @@ class Binance(Exchange):
 
             rate = self.price_to_precision(pair, rate)
 
-            self._lev_prep(pair, leverage)
+            self._lev_prep(pair, leverage, side)
             order = self._api.create_order(
                 symbol=pair,
                 type=ordertype,
diff --git a/freqtrade/exchange/exchange.py b/freqtrade/exchange/exchange.py
index a284780ea..2b35417d3 100644
--- a/freqtrade/exchange/exchange.py
+++ b/freqtrade/exchange/exchange.py
@@ -877,7 +877,12 @@ class Exchange:
 
     # Order handling
 
-    def _lev_prep(self, pair: str, leverage: float):
+    def _lev_prep(
+        self,
+        pair: str,
+        leverage: float,
+        side: str  # buy or sell
+    ):
         if self.trading_mode != TradingMode.SPOT:
             self.set_margin_mode(pair, self.margin_mode)
             self._set_leverage(leverage, pair)
@@ -923,7 +928,7 @@ class Exchange:
             rate_for_order = self.price_to_precision(pair, rate) if needs_price else None
 
             if not reduceOnly:
-                self._lev_prep(pair, leverage)
+                self._lev_prep(pair, leverage, side)
 
             order = self._api.create_order(
                 pair,
@@ -1853,7 +1858,7 @@ class Exchange:
             return
 
         try:
-            self._api.set_leverage(symbol=pair, leverage=round(leverage))
+            self._api.set_leverage(symbol=pair, leverage=leverage)
         except ccxt.DDoSProtection as e:
             raise DDosProtection(e) from e
         except (ccxt.NetworkError, ccxt.ExchangeError) as e:
diff --git a/freqtrade/exchange/ftx.py b/freqtrade/exchange/ftx.py
index 143be73ac..be2e19c66 100644
--- a/freqtrade/exchange/ftx.py
+++ b/freqtrade/exchange/ftx.py
@@ -76,7 +76,7 @@ class Ftx(Exchange):
             params['stopPrice'] = stop_price
             amount = self.amount_to_precision(pair, amount)
 
-            self._lev_prep(pair, leverage)
+            self._lev_prep(pair, leverage, side)
             order = self._api.create_order(symbol=pair, type=ordertype, side=side,
                                            amount=amount, params=params)
             self._log_exchange_response('create_stoploss_order', order)
diff --git a/freqtrade/exchange/okex.py b/freqtrade/exchange/okex.py
index b6252ed1e..3c774cc9a 100644
--- a/freqtrade/exchange/okex.py
+++ b/freqtrade/exchange/okex.py
@@ -3,7 +3,7 @@ from typing import Dict, List, Tuple
 
 from freqtrade.enums import MarginMode, TradingMode
 from freqtrade.exchange import Exchange
-
+from freqtrade.exceptions import OperationalException
 
 logger = logging.getLogger(__name__)
 
@@ -26,3 +26,22 @@ class Okex(Exchange):
         # (TradingMode.FUTURES, MarginMode.CROSS),
         # (TradingMode.FUTURES, MarginMode.ISOLATED)
     ]
+
+    def _lev_prep(
+        self,
+        pair: str,
+        leverage: float,
+        side: str  # buy or sell
+    ):
+        if self.trading_mode != TradingMode.SPOT:
+            if self.margin_mode is None:
+                raise OperationalException(
+                    f"{self.name}.margin_mode must be set for {self.trading_mode.value}"
+                )
+            self._api.set_leverage(
+                leverage,
+                pair,
+                params={
+                    "mgnMode": self.margin_mode.value,
+                    "posSide": "long" if side == "buy" else "short",
+                })