As part of its ongoing commitment to enhancing market liquidity and improving user experience, OKX will delist several perpetual futures and margin trading pairs. This strategic move is designed to streamline trading options, reduce market fragmentation, and support a more efficient and stable trading environment for all users.
The affected assets are FITFI and BLOCK, both of which will see their margin and perpetual futures trading pairs removed from the platform in a phased process. Below is a comprehensive breakdown of the timeline, procedures, and risk management adjustments users should be aware of.
Perpetual Futures Delisting Schedule
Starting on August 22, 2024, OKX will officially delist the following perpetual futures pairs:
- FITFIUSDT
- BLOCKUSDT
Delisting will take effect at 08:00 a.m. UTC. At this time:
- All active trading for these pairs will be suspended.
- Open orders in the order book will be automatically canceled.
- All open positions will be settled.
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Settlement Process
Positions held at the time of delisting will be settled using the arithmetic average price of the corresponding OKX index between 07:00 a.m. and 08:00 a.m. UTC.
In cases where the index price exhibits abnormal behavior during this period, OKX reserves the right to adjust the final settlement price to a fair and reasonable level to ensure equitable outcomes for all traders.
Funding Rate Adjustment
The funding rate at 08:00 a.m. UTC on the delisting day will be set to 0%. As a result, no funding fees will be charged or recorded for this final cycle.
Risk Management Recommendations
Given the potential for sharp price volatility leading up to delisting, users are strongly advised to:
- Reduce leverage exposure.
- Close open positions in advance.
- Monitor account health closely.
For users holding positions valued at over $10,000 at settlement time, asset withdrawals from the trading account will be temporarily restricted for 30 minutes post-delisting. Normal withdrawal functionality will resume after this period.
Order history and billing records will remain accessible after delisting. Users needing to preserve transaction data can download reports via the Reports Center on the OKX website.
Adjustments to Price Limit Rules
To ensure orderly settlement and minimize manipulation risk, OKX has implemented temporary adjustments to price limit parameters for the affected perpetual contracts.
Price Limit Calculation
| Period | Upper Price Limit | Lower Price Limit |
|---|---|---|
| Within 10 minutes of contract creation | Index × (1 + X) | Index × (1 – X) |
| After 10 minutes | Min [Max(Index, Index × (1 + Y) + Avg Premium), Index × (1 + Z)] | Max [Min(Index, Index × (1 – Y) + Avg Premium), Index × (1 – Z)] |
Adjusted Price Limit Parameters
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours before | 2% | 2% | 5% |
| 30 minutes before | 1% | 1% | 2% |
Note: If significant contract price deviation is detected, OKX may further adjust price limits based on real-time market conditions.
Margin Trading Delisting Timeline
The removal of margin trading capabilities for FITFI/USDT and BLOCK/USDT follows an earlier phase-out schedule:
| Pair | Lending Function Suspended | Delisting Window |
|---|---|---|
| FITFI/USDT | 06:00 a.m. UTC, August 14, 2024 | 07:00–09:00 a.m. UTC, August 20, 2024 |
| BLOCK/USDT | 06:00 a.m. UTC, August 14, 2024 | 09:00–11:00 a.m. UTC, August 20, 2024 |
During these windows:
- Margin trading and flexible lending will be disabled.
- Open margin orders will be canceled.
- Each pair will be suspended over approximately one hour.
Users with outstanding loans or collateral tied to these pairs must repay or close positions before the delisting window begins. Failure to do so may trigger forced liquidation once the deadline passes.
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Why This Matters
Unsettled loans increase vulnerability to market swings. With reduced liquidity ahead of delisting, even minor price movements could trigger margin calls. To avoid unexpected losses, OKX strongly recommends:
- Ceasing trading activity on these pairs immediately.
- Repaying all borrowed assets.
- Withdrawing remaining collateral after closure.
Discount Rate Adjustment for Cross-Margin Accounts
In multi-currency cross-margin mode, various cryptocurrencies are converted into USD value to serve as margin. Due to varying liquidity levels across assets, OKX applies discount rates to reflect true risk-adjusted value.
The following changes apply to FITFI and BLOCK:
| Asset | Previous Tier (USD) | Previous Discount Rate | New Tier (USD) | New Discount Rate |
|---|---|---|---|---|
| FITFI, BLOCK | 0–50,000 | 50% | 0 | 0% |
| >50,000 | 0% |
This means that effective immediately, FITFI and BLOCK will no longer contribute any value toward margin requirements in cross-margin accounts. This adjustment aligns with their upcoming delisting and reduces systemic risk exposure.
Frequently Asked Questions (FAQ)
❓ Why is OKX delisting FITFI and BLOCK trading pairs?
OKX continuously evaluates listed assets based on liquidity, trading volume, and market stability. Delisting underperforming pairs helps improve overall market efficiency and user experience by focusing on higher-quality trading options.
❓ What happens if I don’t close my position before delisting?
If you hold open positions at the time of delisting, they will be automatically settled at the average index price during the final hour. However, you lose control over exit timing and may face unfavorable market conditions or forced liquidation.
❓ Can I still trade FITFI or BLOCK in spot markets?
This announcement only affects margin trading and perpetual futures. Spot trading availability is not addressed here—users should check the OKX spot markets for current listing status.
❓ Will I lose my assets if I don’t act?
No. Your assets remain safe on the platform. However, failure to repay margin loans may lead to forced liquidation. It’s essential to manage your positions proactively to avoid unintended losses.
❓ How can I download my trading history?
Visit the Reports Center on the OKX website. From there, you can generate and download order history, billing records, and transaction logs for personal backup or tax purposes.
❓ Are other tokens at risk of being delisted?
OKX regularly reviews its asset listings. Users are encouraged to stay informed through official announcements and monitor the performance and compliance status of their held assets.
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By proactively managing delistings and adjusting risk parameters, OKX reinforces its commitment to a transparent, secure, and user-focused trading ecosystem. Traders are encouraged to stay informed, act early, and leverage available resources to navigate market changes confidently.
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