In a strategic move to enhance market liquidity and improve the overall user experience, OKX has announced the removal of several perpetual futures contracts and margin trading pairs involving FITFI and BLOCK. This decision reflects OKX’s ongoing commitment to maintaining a healthy trading ecosystem by streamlining low-liquidity assets and ensuring optimal risk management for traders.
The affected instruments will be delisted in phases, with clear timelines and procedural adjustments to ensure a smooth transition for all users. Below is a detailed breakdown of the changes, timelines, and critical actions users should take.
📉 Removal of Perpetual Futures Contracts
OKX will discontinue the following perpetual futures contracts:
- FITFIUSDT
- BLOCKUSDT
Both contracts will be removed on August 22, 2024, at 08:00 UTC. After this time:
- All open positions will be automatically settled.
- Outstanding orders in the order book will be canceled.
- Trading functionality for these pairs will cease entirely.
👉 Discover how to manage your futures positions before delisting with advanced tools.
Settlement Process
Positions held at the time of delisting will be settled using the arithmetic average of the corresponding OKX index price between 07:00 and 08:00 UTC.
If significant index deviations occur during this window, OKX reserves the right to adjust the final settlement price to a fair and reasonable level to ensure market integrity.
Funding Rate Adjustment
The funding rate at 08:00 UTC on the delisting day will be set to 0%. As a result, no funding fees will be charged or collected during this final settlement period.
Risk Management Advisory
Given the potential for high volatility leading up to delisting, users are strongly advised to:
- Reduce their effective leverage.
- Close positions proactively to avoid forced liquidations.
- Monitor price movements closely in the final hours.
Post-Delisting Asset Transfers
Users holding positions valued at over $10,000 USD equivalent at the time of settlement will face temporary restrictions:
- Asset withdrawals from trading accounts will be blocked for 30 minutes after delisting.
- Normal withdrawal functionality will resume after this cooling-off period.
Historical data—including order history and billing records—will remain accessible via the Report Center on the OKX platform. Users are encouraged to download necessary records for compliance or personal tracking.
⚙️ Adjustments to Risk Control Parameters
To ensure orderly settlement and prevent manipulation during the delisting phase, OKX has implemented temporary adjustments to price limit rules.
Price Limit Calculation
Price limits are calculated based on the underlying index with dynamic thresholds:
Standard Calculation Logic:
Within first 10 minutes of contract launch:
- Upper Limit: Index × (1 + X)
- Lower Limit: Index × (1 – X)
After 10 minutes:
- Upper Limit: Min[Max(Index, Index × (1 + Y) + avg premium), Index × (1 + Z)]
- Lower Limit: Max[Min(Index, Index × (1 – Y) + avg premium), Index × (1 – Z)]
Adjusted Parameters Before Delisting:
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
Note: If abnormal price deviations occur, OKX may further adjust limits based on real-time market conditions.
These tighter bounds help minimize slippage and protect users from extreme volatility during the critical wind-down phase.
💸 Discontinuation of Margin Trading Pairs
In addition to perpetual futures, OKX will also remove margin trading support for:
- FITFI/USDT
- BLOCK/USDT
Timeline Overview
| Trading Pair | Borrow Function Disabled | Full Delisting Window |
|---|---|---|
| FITFI/USDT | August 14, 2024, 06:00 UTC | August 20, 2024, 07:00–09:00 UTC |
| BLOCK/USDT | August 14, 2024, 06:00 UTC | August 20, 2024, 09:00–11:00 UTC |
Each delisting process will take approximately one hour per pair.
Key Implications
- Margin borrowing and flexible lending functions will be suspended.
- All open margin orders will be canceled.
- Users with outstanding loans or collateral in these assets must repay debts before the delisting window.
Failure to repay on time may trigger forced repayment mechanisms, potentially resulting in losses due to unfavorable liquidation prices.
👉 Learn how to optimize your margin strategy and avoid forced liquidations.
🔁 Changes to Discount Rates for Cross-Margin Accounts
To better reflect market risks, OKX has updated its discount rate framework for cross-margin multi-currency accounts.
Updated Discount Schedule
| Asset | Tier (USD Value) | Previous Discount (%) | New Discount (%) |
|---|---|---|---|
| FITFI, BLOCK | 0 – 50,000 | 0.5 | 0 |
| > 50,000 | — | Not supported |
Assets like FITFI and BLOCK will no longer contribute to margin value in cross-margin mode once delisted.
Why Discount Rates Matter
In multi-currency margin accounts, various cryptocurrencies are converted into USD equivalents to serve as collateral. However, due to differences in market depth, volatility, and liquidity, OKX applies discount rates to certain assets to account for potential risks during rapid market moves.
By removing support and adjusting discount rates, OKX ensures that only stable, liquid assets back leveraged positions—enhancing platform safety for all users.
❓ Frequently Asked Questions (FAQ)
Q1: What happens if I don’t close my perpetual futures position before delisting?
A: Your position will be automatically settled at the average index price between 07:00 and 08:00 UTC on August 22, 2024. No action is required, but you cannot influence the exit price.
Q2: Can I still withdraw funds after my position is settled?
A: Yes—but if your position exceeds $10,000 USD in value at settlement, withdrawals are locked for 30 minutes post-delisting. After that, normal operations resume.
Q3: Why are FITFI and BLOCK being removed?
A: These assets exhibit lower trading volumes and liquidity. Removing them helps streamline the product offering and improves overall market efficiency and risk control.
Q4: 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 0%, so no funding payments will be processed.
Q5: How do I check my margin loan status?
A: Visit the Margin Account section on OKX. You can view outstanding loans, collateral ratios, and repayment deadlines under your portfolio dashboard.
Q6: Where can I download my trading history?
A: Go to the Report Center on the OKX website. You can generate and download comprehensive reports including order history, fills, and financial statements.
Final Notes
OKX remains committed to delivering a secure, efficient, and user-centric trading environment. The removal of low-liquidity pairs like FITFI and BLOCK is part of a broader effort to refine platform offerings and strengthen risk resilience.
Traders are urged to review their current positions, manage exposure ahead of deadlines, and stay informed through official announcements.
👉 Stay ahead of market changes with real-time alerts and professional-grade trading tools.