OKX Announces Delisting of Selected Leverage and Perpetual Contract Pairs

As part of its ongoing commitment to maintaining a secure and efficient trading environment, OKX has announced the upcoming delisting of certain perpetual contracts and leveraged trading pairs. This strategic move aims to mitigate market risks, enhance platform stability, and ensure a seamless user experience amid evolving market conditions.

These changes are part of OKX’s regular review process to maintain high-quality financial products and support sustainable trading practices. Traders are advised to review the details below and take appropriate action before the specified deadlines.

Perpetual Contract Delisting Schedule

OKX will be discontinuing several USDT-margined perpetual contracts on July 4, 2025, at 4:00 PM (UTC+8). The affected contracts include:

• NCUSDT
• SLERFUSDT
• KNCUSDT
• ALPHAUSDT

At the delisting time:

• Trading for these contracts will cease.
• All open orders will be automatically canceled.
• Open positions will be settled using the arithmetic average of the OKX index price during the hour preceding delisting.

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Settlement and Funding Details

To ensure a smooth transition:

• The funding rate for the final period (at 4:00 PM) will be set to 0, meaning no funding fees will be charged or recorded.
• No additional fees, including settlement fees, will apply during the position closeout process.

In cases where the index price shows signs of manipulation in the final hour, OKX reserves the right to adjust the final settlement price to a fair and reasonable level based on market conditions.

Post-Delisting Account Restrictions

For risk control purposes:

• Users holding positions valued above $10,000 USD at the time of settlement will have their asset transfers temporarily restricted.
• This restriction will last for 30 minutes after delisting and then be automatically lifted.

Accessing Historical Records

After delisting:

• All historical orders and billing records for these contracts will remain accessible.
• Users are encouraged to download and back up their transaction history via the Orders Center on the desktop platform for future reference.

Adjustments to Risk Parameters

To support a stable delisting process, OKX may make dynamic adjustments to risk controls, particularly regarding price limits.

Limit Rule Adjustments

If abnormal price deviations occur, OKX may revise the limit order rules based on real-time market data. These adjustments aim to prevent extreme volatility and protect traders from unexpected slippage or liquidation events.

Leveraged Trading and Flexible Loan Delistings

In addition to perpetual contracts, OKX will also phase out leveraged trading and flexible borrowing services for several currency pairs. The timeline is as follows:

Key Dates

During the delisting window (approximately 2 hours per pair):

• Leveraged trading and flexible lending will be suspended.
• All open market orders will be canceled.
• Borrowed assets must be repaid before the deadline.

Mandatory Repayment Warning

Users who have borrowed assets or pledged collateral in these pairs must repay their loans before delisting. Failure to do so will trigger an automatic forced repayment by the system.

⚠️ Risk Advisory: Due to potential market volatility, manually closing positions in advance is strongly recommended to avoid losses during forced repayment.

Collateral Discount Rate Adjustments

OKX is also adjusting the collateral discount rates for certain cryptocurrencies within cross-margin accounts.

What Is a Collateral Discount Rate?

In a cross-margin account model, multiple digital assets can be combined and converted into USD value to serve as margin. However, because different cryptocurrencies vary significantly in liquidity and volatility, OKX applies a discount rate when calculating their effective dollar value. This helps manage systemic risk across the platform.

Upcoming Changes

OKX will gradually reduce the discount rates of specific assets to 0% over time. This effectively means these assets will no longer contribute to margin value in cross-margin positions.

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Risk Implications for Traders

As discount rates decline:

• The maintenance margin ratio for positions using these assets as collateral may increase.
• This raises the risk of forced liquidation, especially during periods of high volatility.

Recommended Actions

To avoid unintended liquidations:

• Monitor your margin usage closely.
• Consider reducing exposure or closing positions proactively.
• Add stable collateral such as USDT or BTC.
• Alternatively, switch to isolated margin mode if applicable.

Frequently Asked Questions (FAQ)

Q1: What happens if I don’t close my perpetual contract position before delisting?
A: All open positions will be automatically settled using the pre-delisting index average price. No action is required, but you cannot influence the settlement price.

Q2: Will I be charged fees when my position is settled?
A: No. There are no funding fees or settlement fees applied during the delisting process.

Q3: Can I still access my trade history after a pair is delisted?
A: Yes. Historical orders and billing records remain available for download via the desktop Orders Center.

Q4: What does it mean when a collateral discount rate drops to zero?
A: It means that asset can no longer be used as effective margin in cross-margin accounts, increasing your required margin balance.

Q5: How long will my withdrawal privileges be restricted after delisting?
A: Only users with unsettled position values over $10,000 will face a temporary 30-minute restriction on fund transfers post-settlement.

Q6: Why is OKX removing these trading pairs?
A: To manage market risk, improve platform performance, and focus on high-liquidity, high-demand assets that offer better trading experiences.

Final Reminders

OKX remains committed to delivering secure, transparent, and user-focused trading services. These updates reflect proactive risk management in response to changing market dynamics.

👉 Prepare for upcoming changes with advanced analytics and proactive alerts.

Traders are urged to:

• Review all delisting dates carefully.
• Close or adjust leveraged positions in advance.
• Repay borrowed funds before deadlines.
• Stay informed through official OKX announcements.

By staying proactive, users can navigate these transitions smoothly and continue trading with confidence on one of the world’s leading digital asset platforms.