In a continued effort to enhance market safety and improve user trading experiences, OKX has announced the upcoming delisting of several perpetual contracts and margin trading pairs. This proactive measure aligns with the platform’s commitment to risk management, ensuring a secure and efficient trading environment. Below is a comprehensive overview of the changes, timelines, and essential steps users should take to manage their positions effectively.
📉 Perpetual Contracts to Be Delisted
OKX will discontinue trading for the following USDT-margined perpetual contracts on July 4, 2025, at 4:00 PM (UTC+8):
- NCUSDT
- SLERFUSDT
- KNCUSDT
- ALPHAUSDT
At the specified time:
- Trading will be suspended.
- All open orders will be automatically canceled.
- Open positions will be forcefully settled using the arithmetic average of the OKX index price during the hour preceding delisting.
⚠️ Important: If the index price is suspected of manipulation during the final hour, OKX reserves the right to adjust the settlement price to a fair and reasonable level.
No funding fees will be charged during the final funding interval (set to 0), and there will be no additional fees—including settlement or transaction charges—applied during the process.
👉 Learn how to manage your perpetual contract risks proactively on a leading global exchange.
Post-Delisting Account Restrictions
Users who hold positions with a value exceeding $10,000 USD at the time of settlement will face temporary asset transfer restrictions across their entire trading account. This restriction lasts for 30 minutes post-delisting and is designed to maintain system stability.
Despite delisting, users can still access historical order records and billing statements. It’s strongly recommended to download these from the desktop Order Center for future reference.
Risk Management Adjustments
To ensure smooth delisting operations, OKX may temporarily adjust price limit rules if significant price deviations occur. These adjustments aim to prevent abnormal volatility and protect user interests.
🔁 Changes to Margin Trading and Flexible Lending
Several margin trading pairs will also be phased out, with lending functionality suspended ahead of full delisting.
| Margin Pair | Borrowing Suspension | Delisting Window (UTC+8) |
|---|---|---|
| STETH/USDT | June 30, 3:00 PM | July 3, 2:00 PM – 6:00 PM |
| SLERF/USDT | June 30, 3:00 PM | July 3, 2:00 PM – 6:00 PM |
| KNC/USDT | June 30, 3:00 PM | July 3, 2:00 PM – 6:00 PM |
| PRCL/USDT | June 30, 3:00 PM | July 4, 2:00 PM – 6:00 PM |
| BCH/BTC | June 30, 3:00 PM | July 4, 2:00 PM – 6:00 PM |
| LTC/BTC | June 30, 3:00 PM | July 4, 2:00 PM – 6:00 PM |
During the delisting window:
- Margin trading will be disabled.
- All open market orders will be canceled.
- The process for each pair will take approximately 2 hours.
Users with outstanding borrows or collateralized assets in these pairs must:
- Repay borrowed funds before delisting.
- Otherwise, face automated forced repayment, which may result in losses due to market fluctuations.
💡 Pro Tip: Manually closing positions ahead of time helps avoid slippage and unexpected liquidation risks during forced settlement.
📊 Adjustment to Collateral Discount Rates
As part of broader risk controls, OKX is updating its collateral discount rate framework, particularly within cross-margin accounts where multiple assets contribute to margin value.
What Are Collateral Discount Rates?
In a multi-currency margin system, different digital assets are converted into USD equivalents to serve as margin. However, due to varying levels of liquidity and volatility, OKX applies a discount factor to each asset’s market value when calculating usable collateral.
For example:
- A coin with high volatility may have a 70% discount rate.
- This means only 70% of its USD value counts toward margin support.
Upcoming Changes
OKX will gradually reduce discount rates to 0% for certain assets during their phase-out period. As this happens:
- The effective collateral value of these assets decreases.
- Maintenance margin requirements increase, raising the risk of liquidation.
🔔 Risk Warning: Users holding leveraged positions backed by affected assets should take preventive measures—such as reducing leverage, closing positions, or adding stablecoin collateral—to avoid forced liquidation.
👉 Discover how advanced margin systems manage risk and optimize collateral efficiency.
✅ Recommended User Actions
To navigate these changes safely, OKX advises users to:
- Review open positions and borrowings in affected pairs.
- Close or adjust leveraged trades before deadlines.
- Repay borrowed assets to avoid forced repayment at unfavorable rates.
- Monitor collateral health, especially if using devaluing assets as margin.
- Download historical data for audit or tax purposes.
Proactive risk management not only protects capital but also enhances long-term trading performance in dynamic markets.
❓ Frequently Asked Questions (FAQ)
Q1: Why is OKX delisting these contracts and pairs?
OKX regularly reviews its product offerings to maintain market integrity and reduce systemic risk. Low liquidity, high volatility, or shifting market demand often prompt such decisions.
Q2: Will I lose money when my position is settled?
Not necessarily. Settlement occurs at a fair index-based price. However, if you fail to close manually, you may face slippage or unfavorable rates during forced processes—especially under volatile conditions.
Q3: Can I still access my trade history after delisting?
Yes. All historical orders and financial records remain accessible via the desktop Order Center. Users are encouraged to export data promptly.
Q4: What happens if I don’t repay my borrowed assets?
The system will initiate automatic repayment using your available balance. If insufficient funds exist, your collateral may be sold—potentially at a loss.
Q5: How do discount rate changes affect my margin account?
Lower discount rates reduce your effective collateral. This increases your loan-to-value ratio and may trigger liquidation if thresholds are breached.
Q6: Are more delistings expected in the future?
Yes. OKX continuously evaluates market conditions and may announce additional adjustments. Users should stay informed through official announcements.
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Final Thoughts
Market evolution demands adaptive risk frameworks. By proactively delisting underperforming or high-risk instruments and adjusting collateral policies, OKX reinforces its role as a secure and user-focused trading platform.
Staying informed and acting early are key to navigating such transitions successfully. Whether you're managing perpetuals or margin positions, understanding these updates empowers smarter decision-making.