The upcoming settlement of the MAJORUSDT pre-market delivery contract on OKX marks a significant event for traders engaged in digital asset derivatives. Scheduled for November 28, 2024, at 23:00 (UTC+8), this process will follow a transparent and structured framework designed to ensure fairness, stability, and risk mitigation across all user positions. Below is a comprehensive breakdown of the settlement mechanism, pricing rules, trading limitations, and essential risk management practices every trader should be aware of.
Understanding the MAJORUSDT Contract Settlement Process
OKX employs a robust and data-driven methodology to determine the final settlement price for the MAJORUSDT delivery contract. This ensures that outcomes are reflective of real market conditions and resistant to manipulation.
🔢 Settlement Price Calculation
The final settlement price is derived from the arithmetic average of the OKX index price over the 60 minutes preceding delivery. The index itself is calculated using weighted data from three or more major cryptocurrency exchanges, drawing from spot market pairs to form a reliable benchmark.
In cases where the index price shows signs of abnormal manipulation during the observation window, OKX reserves the right to adjust the final settlement value to a more reasonable level, ensuring integrity in the delivery process.
This approach minimizes volatility spikes and prevents unfair liquidations, offering users greater confidence in the fairness of the system.
Post-Settlement Account Restrictions
To maintain platform security and prevent potential abuse during high-volatility periods, OKX implements temporary restrictions following the settlement:
- Users with open position values exceeding $10,000 in the MAJORUSDT contract at the time of settlement will have their asset transfer functions suspended.
- This restriction lasts for 30 minutes post-settlement, after which full functionality is automatically restored.
These measures help safeguard both individual accounts and the broader trading ecosystem during critical transition phases.
Accessing Historical Data
Transparency remains a core principle at OKX. After contract delivery:
- All historical orders and transaction bills related to the MAJORUSDT contract remain accessible.
- Users can download detailed records by visiting the "Order Center" on the OKX web platform.
This feature supports auditability and enables traders to review performance, refine strategies, and prepare for future markets.
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Risk Management During High-Volatility Periods
Pre-settlement periods often experience sharp price movements due to speculative positioning and market anticipation. To protect your capital:
- Reduce effective leverage to lower exposure.
- Consider closing positions early if uncertain about market direction.
- Monitor funding rates and open interest trends closely.
In the rare case of liquidation leading to losses beyond user margins, OKX first uses its Insurance Fund to cover deficits. If remaining shortfalls persist, the system initiates auto-deleveraging, starting with the most profitable opposing positions.
This layered defense protects the majority of traders while maintaining market solvency.
Delivery Fee Structure
A 1% delivery fee applies to all settled positions in the MAJORUSDT contract. This fee covers operational costs associated with contract execution and settlement processing.
Should any adjustments be made to this rate in future cycles, OKX will issue official announcements in advance to inform users.
Traders are encouraged to factor this cost into their profit calculations before entering or holding positions through delivery.
Price Limit Mechanism
To curb excessive speculation and stabilize order flow, OKX enforces dynamic price bands based on recent market averages.
📊 Pre-Delivery Phase (After Contract Launch)
During regular pre-market trading:
- Maximum buy price: 1-hour average mid-price × (1 + 15%)
- Minimum sell price: 1-hour average mid-price × (1 – 15%)
⏱ Final Hour (Last 60 Minutes Before Settlement)
As delivery approaches, limits tighten significantly:
- Maximum buy price: 1-hour average mid-price × (1 + 5%)
- Minimum sell price: 1-hour average mid-price × (1 – 5%)
Where:
Mid-price = (Best Bid + Best Ask) / 2, recalculated every minute.
This narrowing window discourages last-minute manipulation attempts and promotes orderly price discovery.
Frequently Asked Questions (FAQs)
Q: What happens to my open position after settlement?
A: All open MAJORUSDT contracts are automatically closed at the final settlement price. Profits or losses are settled in USDT and reflected in your account balance immediately.
Q: Can I still trade MAJOR after the delivery?
A: Yes. While this specific pre-market contract expires, MAJOR may be listed on other spot or derivatives markets on OKX depending on demand and listing policies.
Q: How is the Insurance Fund used during settlement?
A: If a user’s position incurs a loss exceeding their margin (a “deep liquidation”), the Insurance Fund covers the deficit to prevent systemic risk. Only when funds are insufficient does auto-deleveraging occur.
Q: Why are transfers blocked for large-position holders?
A: This temporary restriction prevents rapid movement of large sums during volatile transitions, reducing risks of fraud or flash withdrawals that could impact market integrity.
Q: Where can I check my settlement details?
A: Visit the Futures Account History section under your dashboard on the OKX website. You can filter by contract type and export data as needed.
👉 Access real-time settlement reports and historical trade logs
Core Keywords Integration
Throughout this update, key concepts such as MAJORUSDT contract settlement, pre-market delivery, settlement price calculation, risk management in crypto trading, price limit rules, delivery fee, auto-deleveraging, and Insurance Fund usage have been naturally embedded to align with common search queries while preserving readability.
These terms reflect what active traders seek when preparing for contract expirations — accuracy, timeliness, and actionable insight.
Final Reminders from OKX
Digital assets represent innovative financial instruments with high volatility and inherent risk. Products like pre-market futures contracts offer strategic opportunities but require disciplined analysis and emotional control.
Before participating:
- Fully understand how derivatives work.
- Assess your risk tolerance honestly.
- Use stop-losses, take-profit levels, and position sizing wisely.
OKX remains committed to delivering secure, transparent, and user-centric trading experiences, empowering traders with cutting-edge tools and reliable infrastructure.
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