In an effort to enhance market liquidity and index stability, OKX has announced a strategic adjustment to the components of its STX/USD and STX/USDT indices. The update will take effect between 14:00 and 16:00 WIB on March 22, 2023, with revised exchange pairings and consistent weighting across platforms. This change reflects OKX’s ongoing commitment to improving price accuracy, reducing volatility risks, and ensuring reliable benchmarking for traders and investors.
Below is a detailed breakdown of the component adjustments, calculation methodology, and essential guidance for users navigating this transition.
🔍 Overview of Index Component Changes
The STX/USD and STX/USDT indices are composite benchmarks that aggregate pricing data from multiple exchanges to determine a fair market value for Stacks (STX). These indices influence derivative pricing, margin requirements, and contract settlements on OKX and other platforms relying on external index feeds.
Key Adjustment: Exchange Replacement
The most significant update involves replacing Coinbase with Kraken as a contributing exchange for the STX/USD pair in both indices:
| Index | Exchange | Trading Pair | Weight |
|---|---|---|---|
| Before | |||
| STX/USD | Coinbase | STX/USD | 20% |
| STX/USDT | Coinbase | STX/USD | 20% |
| After | |||
| STX/USD | Kraken | STX/USD | 20% |
| STX/USDT | Kraken | STX/USD | 20% |
All other components—Binance, OKX, Kucoin, and Gate—remain unchanged, each contributing 20% weight via the STX/USDT trading pair. This ensures diversified data sourcing while maintaining balanced representation.
👉 Discover how real-time index updates can protect your trading positions
The new configuration will become effective within 60 minutes following the adjustment window, after which all related financial instruments will reference the updated index values.
📊 Index Calculation Methodology
To maintain fairness and precision, OKX employs a dynamic, rules-based system for calculating index prices. Understanding this process helps traders anticipate potential fluctuations during market shifts or technical disruptions.
Data Sources and Validity Rules
- Real-time pricing: Index constituents pull the latest price and volume data directly from selected exchanges.
- Data validity checks: If an exchange is undergoing maintenance or fails to update pricing within a defined timeframe, its data is temporarily excluded from calculations.
Currency conversion logic: When a constituent uses a different quote currency (e.g., USDT instead of USD), conversion occurs using stable reference rates such as:
- BTC/USDT
- BTC/USD
- USDC/USD
- USDT/USD
For example, an ETH/USDT price is converted to ETH/USD by multiplying it with the current USDT/USD index rate.
Final Price Determination Based on Valid Exchanges
The number of active, valid exchanges determines how the final index price is derived:
- More than 3 valid exchanges: A weighted average is used. However, any outlier price deviating more than 3% above or below the median is capped at 97% to 103% of the median price to prevent manipulation.
- Exactly 2 valid exchanges: Simple average of the two prices.
- Only 1 valid exchange: The last traded price from that single source becomes the index value.
This tiered approach ensures resilience against downtime or anomalies without compromising transparency.
⚠️ Impact on Trading and Risk Management
Index adjustments can lead to short-term price volatility in related markets, particularly for:
- Perpetual futures contracts
- Margin trading positions
- Stop-loss and take-profit triggers
Since the mark price (used for liquidations) is often derived from the index, even small shifts may affect open positions—especially those with high leverage or insufficient margin buffers.
Recommended User Actions
To mitigate risk during the transition period, OKX advises users to:
- Reduce position size ahead of the update
- Increase account margin to avoid unexpected liquidations
- Lower leverage to improve position stability
- Monitor real-time index feeds closely
- Consider temporarily closing sensitive positions if market conditions appear unstable
These proactive steps help safeguard capital during periods of structural change in pricing mechanisms.
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❓ Frequently Asked Questions (FAQ)
Q: Why is OKX replacing Coinbase with Kraken in the STX index?
A: The change aims to improve data reliability and pricing consistency. Kraken demonstrates stronger historical uptime and deeper order book depth for STX/USD, contributing to a more stable index under volatile conditions.
Q: Will this affect my open futures or margin positions?
A: Yes. Since contract mark prices are tied to the index, fluctuations during the transition could impact liquidation risks—especially for highly leveraged positions. It's wise to review your exposure before March 22.
Q: How will I know if an exchange’s data is invalid during calculation?
A: While real-time status isn’t publicly displayed, the system automatically excludes delayed or missing data. You can infer issues if index prices diverge significantly from major exchange spot prices.
Q: Is the weight distribution still equal across exchanges?
A: Yes. All five contributing exchanges retain a 20% weight, ensuring no single platform dominates the index calculation.
Q: Can I still trade STX during the adjustment window?
A: Absolutely. Trading remains uninterrupted. Only the underlying index composition changes—not market access or order execution.
Q: What happens if fewer than three exchanges provide valid data?
A: The fallback mechanism activates: two-exchange averages or single-source pricing apply. Though rare, this ensures continuity even during widespread outages.
🔗 Final Notes and Ongoing Monitoring
Market index integrity is foundational to fair trading ecosystems. By refining the STX/USD and STX/USDT index components, OKX strengthens its infrastructure for accurate price discovery and reduced manipulation risks.
Users are encouraged to monitor official announcements for future updates and utilize platform tools like price alerts, margin calculators, and index dashboards to stay informed.
👉 Access real-time index data and optimize your trading strategy today
This adjustment underscores the importance of adaptive indexing in fast-moving crypto markets—where precision, diversity, and responsiveness define trust and performance.
Keywords: OKX, STX/USD, STX/USDT, index adjustment, crypto index, market liquidity, price stability, trading risk