In a strategic move to enhance market liquidity and optimize the overall trading experience, OKX has announced the upcoming delisting of several perpetual futures and margin trading pairs involving FITFI and BLOCK. This decision reflects the platform’s ongoing commitment to maintaining a healthy, efficient, and user-focused trading environment.
If you're currently holding positions or have active orders in these pairs, it's essential to understand the timeline, implications, and risk management steps involved. This article breaks down the delisting process, outlines key dates, explains risk control adjustments, and answers frequently asked questions to help you navigate this transition smoothly.
Perpetual Futures Delisting Schedule
Starting on August 22, 2024, at 8:00 am UTC, OKX will officially delist the following perpetual futures contracts:
- FITFIUSDT
- BLOCKUSDT
After this time, trading for these pairs will be terminated, and all open orders in the order book will be automatically canceled. To ensure a fair and orderly settlement, OKX will deliver all outstanding positions using the arithmetic average price of the corresponding OKX index collected between 7:00 am and 8:00 am UTC on the same day.
👉 Stay ahead of market changes with real-time updates and advanced trading tools.
Final Settlement & Price Protection
In cases where the index price shows abnormal behavior during the one-hour pricing window, OKX reserves the right to adjust the final delivery price to a reasonable level to prevent manipulation and protect traders.
Additionally, the funding rate at 8:00 am UTC on the delisting day will be set to 0, meaning no funding fees will be charged or credited during that cycle.
Risk Management Recommendations
Markets often experience increased volatility ahead of delistings. To minimize potential losses:
- Consider reducing your leverage
- Close positions in advance
- Monitor your portfolio closely as the deadline approaches
Post-Delisting Transfer Restrictions
For risk mitigation purposes, users holding positions valued at over 10,000 USD at the time of delivery will face temporary withdrawal restrictions. These limitations will be in place for 30 minutes after delisting, after which normal asset transfers will resume.
All order history and billing records will remain accessible post-delisting. Users who wish to preserve their data can download reports via the Report Center on the OKX website.
Adjustments to Risk Control Parameters
To ensure smooth delivery and prevent price manipulation, OKX is implementing temporary changes to its price limit rules for the affected perpetual contracts.
Price Limit Rule Overview
Price limits are calculated based on the index price and dynamic multipliers (X, Y, Z), which vary depending on the time remaining until delivery.
Standard Calculation Logic:
Within 10 minutes of contract generation:
- Highest price limit = Index × (1 + X)
- Lowest price limit = Index × (1 – X)
After 10 minutes:
- More complex formulas apply, incorporating average premiums and dynamic caps
Temporary Adjustments Before Delivery
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours before | 2% | 2% | 5% |
| 30 minutes before | 1% | 1% | 2% |
Note: If significant deviations occur between contract and index prices, OKX may further adjust limits based on real-time market conditions.
These tighter parameters help reduce slippage and ensure fair price discovery during the critical final phase.
Margin Trading Pair Delisting Details
In parallel with perpetual futures, OKX is also delisting FITFI/USDT and BLOCK/USDT from its margin trading offerings.
| Margin Pair | Borrowing Suspension | Delisting Window |
|---|---|---|
| FITFI/USDT | August 14, 2024, 6:00 am UTC | August 20, 2024, 7:00–9:00 am UTC |
| BLOCK/USDT | August 14, 2024, 6:00 am UTC | August 20, 2024, 9:00–11:00 am UTC |
Each delisting process will take approximately one hour. During this window:
- Margin trading and flexible loans for these pairs will be suspended
- Open margin orders will be canceled
- Users must repay any outstanding borrowings before the delisting window begins
Failure to repay by the deadline will trigger a forced repayment, which could result in liquidation or additional fees.
Given potential price swings, traders are strongly advised to close all related positions early to avoid unexpected losses due to forced unwinding.
Discount Rate Adjustments for FITFI and BLOCK
As part of broader risk management, OKX has updated the discount rates applied to FITFI and BLOCK in multi-currency cross margin accounts.
| Asset | Tier (USD) | Previous Discount Rate | New Discount Rate |
|---|---|---|---|
| FITFI, BLOCK | 0 – 50,000 | 0.5 | 0 |
| > 50,000 | — | 0 |
Why Discount Rates Matter
In cross-margin trading, various cryptocurrencies are converted into USD value to serve as collateral. However, due to differences in liquidity and volatility, less stable assets are assigned lower discount rates—meaning only a portion of their value counts toward margin requirements.
By setting the discount rate to 0, OKX effectively removes FITFI and BLOCK from being usable as margin collateral, reflecting reduced market confidence or liquidity ahead of delisting.
This change reinforces platform stability and protects users from systemic risks associated with low-liquidity assets.
Frequently Asked Questions (FAQ)
Q: What happens to my open FITFI or BLOCK perpetual positions after delisting?
A: All open positions will be settled at the arithmetic average price of the OKX index between 7:00 am and 8:00 am UTC on August 22, 2024. You do not need to take manual action, but closing early reduces execution risk.
Q: Can I still trade these pairs before delisting?
A: Yes, trading remains available until the exact delisting time. However, volume and liquidity may decline sharply as the date approaches.
Q: Will I lose access to my funds if I don’t close my position?
A: No. Your settled funds will remain in your account. However, users with large positions (>10,000 USD) will face a 30-minute transfer hold post-delivery.
👉 Access powerful analytics tools to track portfolio performance before major events like delistings.
Q: Why is OKX delisting these pairs?
A: Delistings typically occur due to low trading volume, poor liquidity, or strategic platform optimization. This helps maintain a high-quality trading ecosystem.
Q: Can I borrow FITFI or BLOCK after August 14?
A: No. The borrowing function for both assets was suspended on August 14, 2024. Outstanding loans must be repaid before the full delisting window.
Q: Where can I find historical trade data after delisting?
A: All order history and billing records remain accessible through your account dashboard. Use the Report Center to export data for personal records.
Key Takeaways for Traders
- Perpetual futures for FITFIUSDT and BLOCKUSDT end on August 22, 2024
- Margin trading suspensions began on August 14, with full delisting between August 20–22
- Settlement prices are based on a fair index average
- Withdrawal holds apply temporarily for large positions
- Discount rates for collateral have been reset to zero
- Forced repayments may occur if loans aren’t settled in time
Staying informed is crucial in fast-moving crypto markets. By understanding these changes early, you can make proactive decisions that protect your capital and improve your long-term trading outcomes.
👉 Get ahead with institutional-grade trading features designed for precision and control.
Core Keywords:
OKX delisting, FITFIUSDT, BLOCKUSDT, perpetual futures, margin trading, crypto delisting, trading pairs, risk management