The cryptocurrency exchange OKX has announced upcoming changes to its trading offerings, including the delisting of several perpetual futures and margin trading pairs. These adjustments are designed to enhance market liquidity, reduce volatility risks, and improve the overall trading experience for users.
This article provides a comprehensive overview of the delisting schedule, key timelines, risk management measures, and what traders need to do before these changes take effect.
Upcoming Delistings: Perpetual Futures Contracts
OKX will be removing two popular perpetual futures contracts from its platform:
- STARL/USDT Perpetual Futures
- ANT/USDT Perpetual Futures
These contracts will be officially delisted on May 23, 2024, at 8:00 am UTC. After this time, all active trades will be terminated, and open orders in the order book will be automatically canceled.
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Final Settlement and Delivery Price
All open positions in the affected perpetual futures will be settled at the arithmetic average price of the OKX index, calculated over the hour preceding delisting (i.e., from 7:00 am to 8:00 am UTC).
In cases where the index price shows abnormal behavior during this one-hour window, OKX reserves the right to adjust the final delivery price to a fair and reasonable level to ensure equitable settlement.
Additionally, the funding rate at 8:00 am UTC on delisting day will be set to 0%, meaning no funding fees will be charged or collected during that cycle.
Post-Delisting Transfer Restrictions
To maintain platform stability and prevent potential manipulation during the transition:
- Users holding positions valued at over $10,000 at the time of delivery will face a 30-minute restriction on asset withdrawals from their trading accounts.
- Normal transfer functionality will resume after this brief hold period.
Historical data—including order records and billing statements—will remain accessible post-delisting. Traders are encouraged to download any necessary reports via the Report Center on the OKX website before or after the event.
Adjustments to Risk Control Parameters
To ensure smooth execution and fair pricing during the delisting process, OKX is implementing temporary modifications to its price limit rules.
Price Limit Rule Updates
Price limits help prevent extreme volatility by restricting how high or low a trade can be executed relative to the index price.
Standard Calculation:
Within 10 minutes of contract generation:
- High limit:
Index Ă— (1 + X) - Low limit:
Index × (1 – X)
- High limit:
After 10 minutes:
- High limit:
Min[Max(Index, Index Ă— (1 + Y) + Average premium over last 10 min), Index Ă— (1 + Z)] - Low limit:
Max[Min(Index, Index × (1 – Y) + Average premium over last 10 min), Index × (1 – Z)]
- High limit:
Adjusted Values Before Delivery:
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours | 2% | 2% | 5% |
| 30 minutes | 1% | 1% | 2% |
These tighter limits aim to stabilize pricing as contracts approach termination. Note that if significant deviations occur between the contract and index prices, OKX may further adjust these parameters based on real-time market conditions.
Margin Trading Pair Delistings
In addition to perpetual futures, OKX is also discontinuing support for several margin trading pairs:
| Trading Pair | Cease Borrowing Time | Delisting Time |
|---|---|---|
| STARL/USDT | May 20, 2024, 6:00 am UTC | May 23, 2024, 4:00 am UTC |
| ANT/USDT | May 23, 2024, 6:00 am UTC | May 23, 2024, 8:00 am UTC |
| MANA/BTC | — | May 23, 2024, 8:00 am UTC |
At the specified delisting times:
- Margin trading and flexible loans for these pairs will be suspended.
- All open margin orders will be canceled.
- The suspension process may take up to one hour per pair.
Users with outstanding borrowings or collateral tied to these assets must repay their loans before the delisting deadline. Failure to do so will trigger an automatic forced repayment.
Given potential price swings prior to delisting, traders are strongly advised to close positions early and settle debts proactively to avoid unexpected losses.
Changes to Asset Discount Rates
As part of broader risk management efforts, OKX is updating discount rates applied to certain assets used as collateral in cross-margin accounts.
Updated Discount Schedule
| Asset | Previous Tier (USD) | Previous Rate | New Tier (USD) | New Rate |
|---|---|---|---|---|
| STARL, ANT | 0–50,000 | 50% | 0 | 0% |
| >50,000 | 0% |
This means that STARL and ANT will no longer provide any discount benefit when used as margin collateral. Their full USD value will not be counted toward borrowing capacity under multi-currency cross-margin mode.
This change reflects lower market liquidity and increased risk associated with these tokens. By applying a 0% discount rate, OKX aims to protect both users and the platform from potential insolvency risks during volatile markets.
Note: In cross-margin trading, different cryptocurrencies are converted into USD equivalents and subject to discount rates based on volatility and liquidity. This ensures a balanced risk profile across diverse assets.
Frequently Asked Questions (FAQ)
Q: Why is OKX delisting these trading pairs?
A: Delistings are conducted to optimize market efficiency, improve liquidity for remaining pairs, and manage risk—especially for assets with declining trading volume or increased volatility.
Q: What happens to my open perpetual futures positions after delisting?
A: All open positions will be automatically settled at the average index price one hour before delisting. No action is required after that point.
Q: Can I still withdraw funds immediately after delisting?
A: If your position was valued above $10,000 at delivery time, you’ll face a 30-minute withdrawal hold. Otherwise, transfers resume normally.
Q: How do I avoid forced repayment on margin loans?
A: Repay your borrowed amounts before the delisting time. Also, consider reducing leverage or closing positions early due to potential price swings.
Q: Where can I access my trade history after delisting?
A: All historical data remains available through the Report Center on OKX. You can download order logs and billing records anytime.
Q: Why were STARL and ANT discount rates reduced to zero?
A: Due to decreased market liquidity and higher volatility, these assets now pose greater risk as collateral. A 0% discount rate helps maintain system-wide stability.
Key Takeaways for Traders
Market changes like delistings require prompt attention. Here’s what you should do now:
- Review your current portfolio for exposure to STARL, ANT, and MANA/BTC.
- Close or transfer positions in affected perpetual futures before May 23.
- Settle all margin loans before respective deadlines to avoid forced repayments.
- Monitor your account during the transition window for temporary restrictions.
- Back up important trading data using OKX’s reporting tools.
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Cryptocurrency markets evolve rapidly. Staying informed about exchange-level changes ensures better control over your investments and reduces unexpected risks.
Whether you're a short-term trader or long-term holder, understanding platform policies around delistings, margin rules, and risk parameters is essential for success in digital asset trading.
As always, practice sound risk management—especially when leverage is involved—and use trusted platforms that prioritize transparency and user protection.
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