As part of its ongoing efforts to enhance market efficiency and ensure index reliability, OKX will update the composition of several key indexes on August 26, 2024, from 09:00 to 12:00 UTC. These adjustments are designed to improve index stability, reflect current market liquidity, and provide traders with more accurate pricing benchmarks.
The revised index values will be calculated using a weighted average of the new component prices, based on their updated weightings across major exchanges. This strategic realignment ensures that OKX indexes remain robust, transparent, and representative of real-time market conditions.
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Overview of Index Component Adjustments
Index composition plays a crucial role in determining the accuracy and responsiveness of digital asset pricing. By rebalancing exchange pairs and their respective weights, OKX aims to minimize price discrepancies and reduce vulnerability to manipulation or temporary illiquidity on any single platform.
Below is a detailed breakdown of the changes being implemented across four primary indexes: BETH-USDT, BETH-ETH, BLUR-USD, and BLUR-USDT.
BETH-USDT Index Update
The BETH-USDT index will see significant changes in both exchange representation and weight distribution. Notably, Binance's ETH/USDT pair will now carry a 23.53% weighting—replacing OKX’s BETH/USDT as the top contributor. OKX’s own ETH/USDT pair also increases its share to match Binance’s weight.
Additionally, Bybit gains a stronger presence at 17.65%, while Bitfinex, Kucoin, and Gate are newly included or adjusted to maintain balanced representation.
This shift reflects a move toward standardizing on widely traded ETH/USDT pairs rather than tokenized derivatives like BETH, improving overall price accuracy.
BETH-ETH Index Realignment
The BETH-ETH index is being simplified and optimized for better alignment with spot market dynamics. The most notable change is the removal of the BETH/ETH trading pair entirely in favor of ETH/USDT pairs across major platforms.
Binance and OKX now each hold a 30.77% weight, Bybit follows at 23.08%, and Kucoin accounts for 15.38%. This consolidation enhances transparency and reduces dependency on less liquid or synthetic instruments.
By focusing on high-volume ETH/USDT pairs, the index becomes more reflective of true market sentiment and less prone to volatility spikes caused by low-liquidity markets.
BLUR-USD and BLUR-USDT Index Enhancements
Both BLUR-USD and BLUR-USDT indexes are undergoing parallel updates to strengthen consistency and reliability. Key changes include:
- Increased weighting for OKX, Binance, and Bybit
- Removal of lower-volume contributors such as Mxc
- Equalized weights between equivalent pairs across exchanges
Specifically, OKX, Binance, and Bybit now hold 26.67%, 26.67%, and 20.00% respectively in both indexes, while Kucoin and Gate maintain stable but smaller allocations at 13.33% each.
These adjustments ensure that the BLUR price feed is anchored by the most liquid and trusted markets, reducing slippage risks during volatile periods.
How Index Prices Are Calculated
Index prices on OKX are determined through a volume-weighted methodology, where each component’s price is multiplied by its assigned weight, then aggregated into a composite average.
For example:
If Exchange A has a 30% weight and reports a price of $1,900, and Exchange B has a 20% weight at $1,910, their combined contribution would be (0.3 × 1900) + (0.2 × 1910) = 570 + 382 = 952, which feeds into the total index value.This system prevents any single exchange from disproportionately influencing the index and helps mitigate risks related to flash crashes or spoofing.
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Why These Changes Matter for Traders
Index adjustments directly affect mark prices, which are used to calculate unrealized P&L, margin requirements, and liquidation levels for perpetual and futures contracts.
When components change:
- Mark prices may experience short-term fluctuations
- Contracts tied to these indexes could see increased margin calls
- Leverage exposure might shift unexpectedly
Therefore, traders should proactively manage their positions ahead of the adjustment window.
Recommended Risk Management Actions
To minimize potential disruptions, OKX advises users to consider the following steps before August 26:
- Reduce open positions to lower exposure
- Increase margin balance to avoid liquidation
- Lower leverage to enhance position resilience
- Close sensitive positions if uncertain about market behavior
These precautions help safeguard capital during transitional periods when pricing models are recalibrated.
Frequently Asked Questions (FAQ)
Why is OKX changing the index components?
OKX updates index compositions to reflect evolving market liquidity, improve price accuracy, and enhance resistance to manipulation. These changes ensure that indexes remain reliable benchmarks for derivatives pricing.
Will this affect my open futures or perpetual positions?
Yes. Since mark prices are derived from index values, any adjustment can influence margin calculations and liquidation thresholds. Monitor your positions closely around the update window.
Are BETH-based pairs being removed completely?
While BETH/USDT and BETH/ETH are being phased out of certain indexes, they may still be supported elsewhere on the platform. The shift prioritizes widely adopted ETH/USDT pairs for greater consistency.
How often are index components reviewed?
Index compositions are evaluated regularly—typically every few months—based on trading volume, liquidity depth, and exchange reliability. Major updates are announced in advance.
Can I still trade BETH or BLUR after these changes?
Absolutely. These adjustments only impact how index prices are calculated; they do not affect the availability of spot or derivative products for BETH or BLUR.
Is there a risk of downtime during the adjustment?
No scheduled downtime is expected. The transition will occur seamlessly in the background, though brief price recalibrations may be observed within the three-hour window.
Final Notes and Risk Reminder
While these updates aim to improve platform integrity and user experience, all digital asset trading involves inherent risk. Prices can be highly volatile, markets may become illiquid without warning, and past performance does not guarantee future results.
OKX does not provide financial advice, nor does it guarantee the completeness or accuracy of any information presented here—some of which may originate from third-party sources. Always conduct independent research and assess your risk tolerance before trading.
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This notice was issued by the OKX team on August 23, 2024.