As part of its ongoing commitment to risk management and user protection, OKX has announced the upcoming delisting of select perpetual contracts and leveraged trading pairs. This strategic move aims to maintain platform stability, enhance trading quality, and ensure a secure environment for all users. Below is a comprehensive overview of the changes, timelines, and key actions users should take.
Perpetual Contract Delisting Schedule
OKX will be discontinuing several perpetual contracts on April 8, 2025, at 4:00 PM (UTC+8). The affected contracts are:
- MAXUSDT
- KISHUUSDT
- 1INCHUSD
- GRTUSD
At the specified time, the following actions will take place:
- Trading for these contracts will cease immediately.
- All open orders will be canceled automatically.
- User positions will be settled using the arithmetic average of the OKX index price from the hour preceding delisting.
👉 Discover how OKX ensures fair contract settlements during delistings.
In the event of abnormal market manipulation affecting the index price during the final hour, OKX reserves the right to adjust the final settlement price to a fair and reasonable level to protect user interests.
Notably, the funding rate for the final period will be set to zero, meaning no funding fees will be charged or recorded. Additionally, no settlement fees or other charges will apply during the position closeout process.
Risk Advisory for Traders
Market volatility is expected to increase as the delisting date approaches. To minimize potential losses, users are strongly advised to:
- Reduce effective leverage
- Close positions manually in advance
- Avoid holding large positions into the final hour
Users with open positions valued over $10,000 USD at settlement will face a temporary 30-minute restriction on asset transfers across their trading accounts. Normal functionality will resume automatically after this brief window.
Historical order records and billing statements for these contracts will remain accessible post-delisting. Users are encouraged to download their data via the desktop Order Center for personal archiving.
Adjustments to Risk Parameters
To ensure a smooth and orderly delisting process, OKX may implement dynamic risk controls on the affected perpetual contracts, including:
- Adjustments to price limit rules if significant deviations from fair market value occur
- Temporary tightening of liquidation thresholds to prevent cascading liquidations
These measures are designed to uphold market integrity and prevent systemic risk during the wind-down phase.
Leveraged Trading and Flexible Leverage Delistings
In parallel with perpetual contract adjustments, OKX will also phase out leveraged trading and borrowing services for the following pairs:
| Leveraged Pair | Borrowing Suspension | Delisting Window |
|---|---|---|
| MAX/USDT | April 1, 2025, 3:00 PM (UTC+8) | April 7, 2025, 2:00–6:00 PM (UTC+8) |
| SUSHI/USDC | April 1, 2025, 3:00 PM (UTC+8) | April 7, 2025, 2:00–6:00 PM (UTC+8) |
| SNX/USDC | April 1, 2025, 3:00 PM (UTC+8) | April 7, 2025, 2:00–6:00 PM (UTC+8) |
Key Actions for Users
During the delisting window:
- Leveraged trading will be suspended
- All open market orders will be canceled
- Estimated processing time per pair: ~2 hours
Users who have borrowed assets or pledged collateral in these pairs must repay all outstanding loans before the delisting window begins. Failure to do so will trigger an automatic forced repayment by the system.
⚠️ Important Risk Warning: Due to potential price volatility during forced repayments, users may incur unexpected losses. It is highly recommended to close positions and repay debts proactively.
👉 Learn how to manage your leveraged positions safely before delisting.
Collateral Discount Rate Adjustment for MAX
As part of broader risk mitigation efforts, OKX is adjusting the collateral discount rate structure for MAX tokens within cross-margin accounts.
Current vs. Updated Discount Tiers
The existing discount schedule is being phased out in favor of a gradual reduction toward zero discount rate, reflecting reduced liquidity and increased risk exposure.
While specific tier details are no longer active, users should understand that:
- Assets in cross-margin accounts are converted to USD value using a discount factor based on market liquidity
- Higher volatility or lower trading volume leads to steeper discounts
- As MAX’s discount rate declines toward zero, its effectiveness as collateral diminishes
Impact on Margin Requirements
As the discount rate decreases:
- The effective collateral value of MAX holdings drops
- This increases the maintenance margin ratio, raising the risk of liquidation
- Users relying on MAX as primary collateral may face margin calls
To avoid forced liquidations, users are advised to:
- Reduce leverage exposure
- Close high-risk positions
- Add more stable collateral (e.g., BTC, ETH, USDT)
- Monitor account health closely via the risk management dashboard
Frequently Asked Questions (FAQ)
Q1: Why is OKX delisting these contracts and pairs?
OKX regularly reviews its product offerings to ensure they meet current market standards for liquidity, stability, and user safety. Delisting underperforming or high-risk instruments helps maintain platform integrity and protects traders from unexpected volatility.
Q2: What happens if I don’t close my position before delisting?
If you hold a position past the delisting time, it will be automatically settled using the pre-defined index price. While no additional fees are charged, you lose control over exit timing, which may result in suboptimal execution.
Q3: Can I still access my trading history after delisting?
Yes. All historical orders, trades, and billing records remain available after delisting. You can export this data anytime through the desktop version of the Order Center.
Q4: Why is the discount rate for MAX being reduced?
The reduction reflects changing market conditions, including lower liquidity and higher volatility. By adjusting discount rates, OKX ensures that collateral valuations remain conservative and aligned with real-world risk profiles.
Q5: Will I be charged for forced repayment?
There are no extra fees for forced repayment itself. However, if repayment occurs during high-volatility periods, slippage or unfavorable pricing may lead to financial loss. Proactive repayment is always safer.
Q6: Are more delistings expected in the future?
Yes. OKX continuously monitors all listed assets and derivatives. Periodic reviews may lead to additional adjustments or removals based on trading volume, community feedback, and risk assessments.
Final Reminder
OKX remains committed to delivering a secure, transparent, and high-performance trading environment. These updates reflect proactive risk management practices designed to protect users and enhance long-term platform sustainability.
👉 Stay ahead of market changes with OKX’s real-time risk alerts and portfolio tools.
Users are encouraged to review their current positions, adjust strategies accordingly, and utilize available resources to navigate these transitions smoothly. By staying informed and acting early, traders can maintain control and minimize exposure during periods of change.
This announcement was originally issued on April 1, 2025.