OKX Announces Delisting of Select Margin and Perpetual Futures Pairs

Overview of the Delisting Decision

To enhance market liquidity and improve the overall trading experience, OKX will remove several margin trading pairs and perpetual futures contracts. This strategic move aims to streamline the platform's offerings and ensure a healthier trading environment for all users. The delisting process involves specific tokens and follows a structured timeline to minimize disruption.

Understanding the reasons behind such decisions can help traders adapt their strategies effectively. Exchanges periodically review their listed assets to maintain high standards of liquidity, user protection, and market stability. This ensures that only the most robust and actively traded instruments remain available.

Detailed Delisting Schedule for Perpetual Futures

The following perpetual futures contracts will be delisted on July 4, 2025, at 8:00 am UTC:

• NCUSDT
• SLERFUSDT
• KNCUSDT
• ALPHAUSDT

Upon delisting, all active orders for these contracts will be automatically canceled. Existing positions will be closed via a delivery process at the arithmetic average price of the corresponding OKX index, calculated one hour before the delisting time. Should any index price abnormalities occur during this final hour, OKX reserves the right to adjust the final delivery price to a fair and reasonable value.

It is crucial to note that the funding rate for these contracts will be set to 0 at the time of delisting. Consequently, no funding fees will be accrued or billed for this final period.

Key Considerations for Perpetual Futures Holders

• Risk Management: The market may experience sharp fluctuations preceding the delisting. Users are strongly advised to proactively manage their risk exposure by reducing leverage or closing positions ahead of time.
• Post-Delisting Transfer Restrictions: Users holding delivered positions valued over $10,000 will face temporary restrictions on transferring assets out of their trading accounts for the first 30 minutes following the delisting. Normal transfer functionality will resume after this brief period.
• Data Access: All order history and billing records will remain accessible after delisting. Users can download their data for backup purposes through the report center on the OKX website.

To facilitate a smooth delivery process, OKX will implement adjusted risk control parameters, including potential modifications to price limit rules based on prevailing market conditions.

Detailed Delisting Schedule for Margin Trading Pairs

The margin trading pairs listed below will be removed according to the following schedule. The borrowing feature for these pairs will be disabled starting June 30, 2025, at 7:00 am UTC.

At the specified delisting times, margin trading and flexible loans for these pairs will be suspended. This process may take approximately two hours per pair to complete. All open margin orders will be canceled.

Critical Action Required: Users with outstanding borrowings or who are using these tokens as collateral must repay their loans in full before the delisting time. Failure to do so will result in the system initiating a forced repayment, which could occur at an unfavorable price due to potential market volatility. To avoid unnecessary losses, it is highly recommended to cease trading these pairs and close all related positions well in advance.

Adjustments to Collateral Discount Rates

In multi-currency cross margin mode, assets are converted to their USD value to function as collateral. To mitigate market risk, especially for tokens with varying liquidity, the platform applies a discount rate to calculate their effective collateral value.

For the tokens being delisted, OKX will gradually reduce their collateral discount rates to 0. This means these assets will eventually contribute no value to a user's margin balance.

• Previous Policy: Discount rates were set according to each asset's liquidity profile.
• New Policy: The maximum collateral value for these specific tokens is now 0, with a discount rate of 0%.

This adjustment will cause the maintenance margin requirement to increase for any users still employing these tokens as collateral. To prevent potential forced liquidations triggered by this change, users must manage their risk promptly by closing positions, reducing exposure, or adding alternative forms of margin.

Staying informed on such policy changes is crucial for effective portfolio management. You can explore more strategies for navigating exchange updates and optimizing your trading approach.

Frequently Asked Questions

What does delisting mean for my active perpetual futures positions?
Your active positions will be automatically closed at the official delisting time via a delivery process. The settlement price is based on the index average one hour before delisting. All open orders will be canceled, and no further funding fees will be charged.

I have an open margin loan on a delisted pair. What should I do?
You must repay the loan in full before the official delisting time. If you fail to repay, the platform will execute a forced repayment, which could lead to losses if the market is volatile. It is best to act early to avoid this scenario.

Why is OKX removing these trading pairs?
The delisting is part of a routine review to ensure high liquidity and a quality user experience. Pairs with lower trading activity or higher risk may be removed to maintain market integrity and protect traders.

Can I still access my trade history after delisting?
Yes, your historical order and billing records will remain available for download through the report center on the OKX website even after the pairs have been delisted.

How do the discount rate adjustments affect me?
If you are using any of the affected tokens as collateral, their value will drop to zero for margin calculations. This will increase your maintenance margin requirement, raising your risk of liquidation. You should add other collateral or reduce your position size.

Will I be able to trade these tokens elsewhere on OKX after this?
This announcement only pertains to specific margin and perpetual swap pairs. The availability of these tokens for spot trading or on other products is not necessarily affected and should be checked separately on the platform. For a comprehensive view of market options, you can view real-time tools and available instruments.