As part of its ongoing commitment to maintaining a secure, stable, and high-liquidity trading environment, OKX has announced the delisting of several perpetual futures and margin trading pairs. This strategic move aims to optimize platform performance and ensure long-term market integrity. The affected assets are FITFI and BLOCK, both of which will undergo scheduled removal from key trading products on the exchange.
This article outlines the full timeline, technical adjustments, risk management changes, and user actions required ahead of the delisting event. We’ll also explore what this means for traders holding positions and how to prepare effectively.
Perpetual Futures Delisting Schedule
Starting August 22, 2024, OKX will officially delist the following perpetual futures contracts:
- FITFIUSDT
- BLOCKUSDT
Both contracts will cease trading at 08:00 UTC on that date. All open orders in the order book will be automatically canceled upon delisting. To ensure a fair settlement process, OKX will deliver all outstanding positions based on the arithmetic average price of the corresponding OKX index between 07:00 and 08:00 UTC.
In the event of index price anomalies during this critical window, OKX reserves the right to adjust the final settlement price to a reasonable level to maintain market fairness.
Notably, the funding rate at 08:00 UTC on the delisting day will be set to zero, meaning no funding fee will be charged for that cycle. This adjustment prevents unfair cost imbalances during the final settlement phase.
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Risk Management Recommendations
Given potential volatility leading up to delisting, traders are strongly advised to:
- Reduce leverage exposure
- Close positions proactively
- Monitor account health closely
Failure to manage risk could result in liquidation due to sharp price swings in low-liquidity conditions.
Additionally, users who hold positions valued at over $10,000 in the affected contracts at the time of delivery will face a 30-minute restriction on asset withdrawals after delisting. Withdrawal functionality will resume normally after this brief holding period.
All trade histories, order records, and billing statements will remain accessible post-delisting. Users needing data backups can download reports via the OKX Reports Center.
Adjustments to Price Limits for Fair Settlement
To prevent manipulation and ensure orderly settlement, OKX has implemented dynamic price limit controls for perpetual futures in the final hours before delivery.
How Price Limits Are Calculated
During normal trading:
For the first 10 minutes after contract creation:
- Max price = Index × (1 + X)
- Min price = Index × (1 – X)
After 10 minutes:
- Max price = Min[Max(Index, Index × (1 + Y) + 10-min avg premium), Index × (1 + Z)]
- Min price = Max[Min(Index, Index × (1 – Y) + 10-min avg premium), Index × (1 – Z)]
Adjusted Price Limits Before Delivery
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours before | 2% | 2% | 5% |
| 30 minutes before | 1% | 1% | 2% |
These tighter bands help stabilize pricing as the market approaches settlement. OKX may further adjust limits if significant deviations occur, ensuring alignment with real-market conditions.
Margin Trading Pair Delisting Details
In parallel with perpetual futures, OKX is also delisting margin trading pairs for FITFI/USDT and BLOCK/USDT.
| Trading Pair | Loan Suspension Time | Delisting Window |
|---|---|---|
| FITFI/USDT | 06:00 UTC, August 14, 2024 | 07:00–09:00 UTC, August 20, 2024 |
| BLOCK/USDT | 06:00 UTC, August 14, 2024 | 09:00–11:00 UTC, August 20, 2024 |
During the delisting window—lasting approximately one hour per pair—margin trading and flexible loans will be suspended. All open margin orders will be canceled automatically.
Users with active loans or collateral tied to these pairs must repay debts before delisting. Unsettled loans will trigger forced repayment, potentially leading to losses.
Due to increased volatility risk, OKX recommends ceasing trades in these pairs well in advance and closing all leveraged positions proactively.
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Discount Rate Adjustment for Cross-Margin Accounts
To reflect changing liquidity profiles, OKX is updating the discount rates applied to FITFI and BLOCK within multi-currency cross-margin accounts.
| Asset | Old Discount Structure | New Discount Structure |
|---|---|---|
| FITFI, BLOCK | $0–50,000: 0.5 discount rate<br>>$50,000: No discount | $0+: No discount applied |
This means that starting immediately, both FITFI and BLOCK will no longer contribute value toward margin requirements in cross-margin mode.
Why Discount Rates Matter
In cross-margin trading, various cryptocurrencies are converted into USD equivalents to serve as collateral. However, due to differences in market depth and liquidity, less-traded assets are discounted to mitigate risk. By removing the discount entirely—and setting it to zero—OKX signals reduced confidence in near-term liquidity stability for these tokens.
This change impacts how much buying power users can derive from holding these assets in leveraged accounts.
Frequently Asked Questions (FAQ)
Q: What happens to my open perpetual futures positions after delisting?
A: All open positions will be settled at the average index price between 07:00 and 08:00 UTC on August 22, 2024. You do not need to take manual action, but it's safer to close early to avoid volatility risks.
Q: Can I still withdraw funds after delisting?
A: Yes—but if your position exceeds $10,000 at settlement time, withdrawals will be locked for 30 minutes. Normal access resumes afterward.
Q: Will I be charged funding fees on the final hour?
A: No. The funding rate at 08:00 UTC on delisting day is set to zero. No fee will be applied for that cycle.
Q: What should I do if I have a margin loan in FITFI or BLOCK?
A: Repay your loan before the delisting window (between August 20–22). Otherwise, a forced repayment will occur, which may lead to unfavorable rates or partial liquidation.
Q: Where can I download my trade history?
A: Visit the Reports Center on OKX’s website to export your order history, transaction logs, and account statements.
Q: Why are FITFI and BLOCK being delisted?
A: OKX regularly reviews asset performance, liquidity, and market demand. Delistings help maintain a healthy trading ecosystem by removing underperforming or unstable pairs.
By proactively managing product offerings and adjusting risk parameters, OKX continues to prioritize user protection and platform resilience. Traders are encouraged to stay informed, act early, and use available tools to navigate transitions smoothly.
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