As part of its ongoing commitment to risk management and user protection, OKX has announced the upcoming delisting of several perpetual contracts and leveraged trading pairs. This proactive measure is designed to maintain platform stability, reduce exposure to volatile assets, and enhance the overall trading experience for users. The adjustments include scheduled contract terminations, updates to margin trading services, and changes to cross-margin discount rates.
These actions reflect OKX's data-driven approach to managing market risk, ensuring that only sustainable and liquid assets remain available for advanced trading products. Below is a detailed breakdown of the changes, timelines, and what users need to know to prepare accordingly.
📉 Perpetual Contract Delistings
OKX will delist the following USDT-margined perpetual contracts on October 15, 2024, between 4:00 PM and 5:00 PM (UTC+8):
- ZERO/USDT
- FLR/USDT
- ZEUS/USDT
- GPT/USDT
At the time of delisting:
- All open orders will be automatically canceled.
- Trading will cease immediately.
- User positions will be forcibly settled using the arithmetic average of the OKX index price from one hour prior to delisting.
- If the index shows signs of manipulation during this period, OKX reserves the right to adjust the final settlement price to a fair market value.
👉 Stay ahead of market changes with real-time alerts and risk tools.
Key Settlement Details
- The funding rate for the final hour (4:00 PM) will be set to 0%, meaning no funding payments will be recorded.
- No additional fees—such as delivery or settlement charges—will apply during the forced position closure.
- Users holding positions valued over $10,000 USD at settlement will face a temporary restriction on asset transfers across their account for 30 minutes post-delisting.
Important: Due to potential volatility in the final hours before delisting, users are strongly advised to reduce leverage or close positions manually in advance. Failure to do so may result in unexpected losses.
In cases where forced liquidation leads to bankruptcy losses, OKX’s insurance fund will cover the deficit first. If the fund is insufficient, the system will initiate auto-deleveraging, starting with the most profitable traders.
🔧 Adjustments to Perpetual Contract Price Limits
To ensure orderly price discovery and prevent extreme volatility during the wind-down phase, OKX will implement temporary adjustments to the mark price-based circuit breaker mechanism.
The formula used to calculate price limits is as follows:
For the first 10 minutes after contract launch:
- Max Price:
Index × (1 + X) - Min Price:
Index × (1 – X)
After 10 minutes:
- Max Price:
Min[Max(Index, Index × (1 + Y) + Avg Premium over last 10 min), Index × (1 + Z)] - Min Price:
Max[Min(Index, Index × (1 – Y) + Avg Premium over last 10 min), Index × (1 – Z)]
| Time Before Delisting | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| Final 30 minutes | 1% | 1% | 2% |
These tighter bands help minimize slippage and manipulation risks as contracts approach expiration. OKX may further refine these parameters if abnormal market behavior is detected.
⚖️ Margin Trading and Flexible Savings Discontinuation
In addition to perpetual contracts, OKX will also phase out leveraged trading and borrowing capabilities for specific pairs.
| Trading Pair | Borrowing Suspension | Full Delisting |
|---|---|---|
| GPT/USDT | October 2, 2024, 4:30 PM (UTC+8) | October 14, 2024, 2:00–4:00 PM (UTC+8) |
During the delisting window:
- Margin trading will be suspended.
- All open orders in the market will be canceled.
- The process will take approximately one hour per pair.
Users who have borrowed GPT or used it as collateral must repay all debts before delisting. Otherwise, OKX will trigger automatic repayment, which may occur at unfavorable prices due to market fluctuations.
👉 Protect your portfolio with smart risk controls and margin monitoring tools.
🔔 Risk Warning: High volatility increases the likelihood of losses during forced unwinding. Self-managed position closure is always safer than relying on automated systems.
💰 Cross-Margin Discount Rate Update
OKX has revised the discount rate applied to GPT within cross-margin accounts. This impacts how much value GPT contributes when used as part of a diversified collateral basket.
| Asset | Previous Tier (USD) | Previous Discount Rate | New Tier (USD) | New Discount Rate |
|---|---|---|---|---|
| GPT | 0 – 50,000 | 50% | Any amount | 0% |
| >50,000 | 0% |
This means GPT will no longer provide any collateral value in cross-margin mode. The change aims to mitigate risks associated with lower liquidity and higher price swings in certain altcoins.
📌 Note: Discount rates exist because not all cryptocurrencies offer equal liquidity or stability. By applying discounts, OKX ensures that margin calculations reflect realistic liquidation scenarios under stress conditions.
For full details on how discount rates work, visit OKX’s official documentation framework.
❓ Frequently Asked Questions (FAQ)
Q: What happens if I don’t close my perpetual position before delisting?
A: Your position will be automatically settled using the pre-delisting index average. You won’t incur funding or delivery fees, but market conditions could lead to suboptimal execution.
Q: Can I still trade these pairs after delisting?
A: No. Once delisted, these perpetual contracts and margin pairs will no longer be available for trading or borrowing on OKX.
Q: Why was GPT’s discount rate reduced to 0%?
A: To align with current market liquidity and volatility standards. Assets with lower trading volume or higher risk profiles are often adjusted to protect users and the platform.
Q: Will I lose access to my GPT holdings?
A: No. You can still deposit, withdraw, and hold GPT. However, it can no longer be used as margin collateral in cross-margin accounts.
Q: How can I check my historical order records after delisting?
A: All past orders and transaction bills remain accessible via the desktop Order Center. Users are encouraged to download records before or shortly after delisting for personal backup.
Q: Is this a permanent change?
A: Unless otherwise announced, these delistings and adjustments are final. Reintroduction depends on future market conditions and asset performance reviews.
✅ Final Reminders for Traders
OKX’s periodic review of tradable assets ensures a safer, more reliable trading environment. These updates are not isolated incidents but part of a broader risk governance strategy adopted by leading crypto platforms globally.
To stay compliant and protect your capital:
- Monitor your open positions in affected pairs.
- Repay any outstanding margin loans promptly.
- Adjust your portfolio strategy in light of new collateral rules.
- Use stop-losses and take-profit levels to manage exposure.
👉 Access advanced trading tools and stay informed on upcoming changes.
By proactively managing risk parameters and delisting underperforming or high-risk instruments, OKX continues its mission to deliver secure, transparent, and efficient digital asset services.
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OKX remains committed to innovation while prioritizing user safety and long-term platform sustainability.