In an effort to enhance market liquidity and improve user trading experience, OKX has announced the delisting of certain trading pairs from its perpetual futures and margin trading services. This strategic adjustment affects FITFI and BLOCK, two prominent digital assets, which will no longer be available for leveraged trading or perpetual contract positions. The changes are part of OKX’s ongoing risk management and market optimization initiatives.
This article outlines the full timeline, implications, and key actions traders should take in response to these updates. Whether you're currently holding positions or managing margin exposure, understanding these adjustments is essential to maintaining control over your portfolio.
Perpetual Futures Delisting Schedule
OKX will officially remove the following perpetual futures contracts:
- FITFI/USDT Perpetual Futures
- BLOCK/USDT Perpetual Futures
Both pairs will cease trading at 10:00 UTC on August 22, 2024. After this time, all open orders in the order book will be automatically canceled.
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During the final hour before delisting (from 10:00 to 11:00 UTC), OKX will calculate the settlement price using the arithmetic average of the corresponding OKX index. In cases where index price deviations occur during this period, OKX reserves the right to adjust the final settlement price to a reasonable level to ensure fair delivery.
Notably, funding rates on the day of delisting will be set to 0%, meaning no funding payments will be recorded for that period. Traders are strongly advised to monitor their open positions closely in the lead-up to delisting, as markets may experience heightened volatility.
To mitigate potential risks:
- Reduce leverage ratios
- Close positions in advance
- Avoid opening new trades in affected pairs
For users who hold positions exceeding $10,000 in either FITFI or BLOCK perpetual contracts at the time of settlement, asset transfers from their trading accounts will be temporarily restricted for 30 minutes post-delisting. Normal transfer functionality will resume after this cooling-off window.
All order history and transaction records will remain accessible after delisting. Users seeking to archive their data can download reports via the Reports Center on the OKX website.
Adjustments to Price Limit Rules
To ensure orderly settlement and minimize manipulation risks during the delisting phase, OKX has updated its price limit mechanisms for perpetual contracts.
Price Limit Calculation
Price limits are determined based on the index price and vary depending on the time remaining until delivery:
Within 10 minutes of contract creation:
- Upper Limit: Index × (1 + X)
- Lower Limit: Index × (1 – X)
More than 10 minutes after creation:
- Upper Limit: Min[Max(Index, Index × (1 + Y) + 10-minute average premium), Index × (1 + Z)]
- Lower Limit: Max[Min(Index, Index × (1 – Y) + 10-minute average premium), Index × (1 – Z)]
Dynamic Parameters Based on Delivery Time
| Time Before Delivery | X | Y | Z |
|---|---|---|---|
| 48 hours before | 2% | 2% | 5% |
| 30 minutes before | 1% | 1% | 2% |
These dynamic thresholds help prevent excessive price swings as contracts approach expiration. If significant deviations between contract and index prices occur, OKX may further adjust limits based on prevailing market conditions.
Margin Trading Suspension for FITFI and BLOCK
In parallel with the perpetual futures delisting, OKX is phasing out margin trading support for both FITFI and BLOCK.
The timeline is as follows:
| Trading Pair | Borrow Function Pause | Delisting Time |
|---|---|---|
| FITFI/USDT | August 14, 2024, 08:00 UTC | August 20, 2024, 07:00 UTC |
| BLOCK/USDT | August 14, 2024, 08:00 UTC | August 20, 2024, 09:00 UTC |
At the specified delisting times:
- Margin trading and flexible loan services will be suspended
- All open margin orders will be canceled
- The process for each pair will take approximately one hour
Users with outstanding loans or collateral tied to these pairs must repay their debts before the delisting time. Any unpaid balances at the time of removal will trigger forced repayment procedures.
⚠️ Given the potential for extreme price fluctuations during this transition period, OKX strongly recommends that traders:
- Cease trading these pairs immediately
- Repay all margin loans in advance
- Close any open leveraged positions to avoid liquidation
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Discount Rate Adjustments for Cross-Margin Accounts
As part of broader risk control measures, OKX has revised the discount rates applied to FITFI and BLOCK within cross-margin multi-currency accounts.
Previously, these assets were subject to tiered discounting:
- $0 – $50,000: 0.5 discount rate
- Above $50,000: No discount (rate of 0)
However, effective August 14, 2024, the discount framework has been simplified:
| Asset | Before Discount Rate | After Discount Rate |
|---|---|---|
| FITFI, BLOCK | Tiered (up to 0.5) | Fixed at 0 |
This means that FITFI and BLOCK will no longer contribute value toward cross-margin requirements. Their USD-denominated worth will be treated as zero when calculating available margin across multi-currency portfolios.
Why Discount Rates Matter
In cross-margin trading, various cryptocurrencies can be converted into USD equivalents and used as collateral. However, due to differences in liquidity and volatility, platforms apply discount rates to reflect realistic risk-adjusted values. By setting the discount rate to zero, OKX signals reduced confidence in these assets’ stability or market depth under leveraged conditions.
Frequently Asked Questions (FAQ)
Q: What happens to my open perpetual futures positions after delisting?
A: All open positions will be settled using the final index-based price at delivery. You must close or manage your exposure before August 22, 10:00 UTC.
Q: Can I still trade FITFI or BLOCK on spot markets?
A: Yes. This change only affects perpetual futures and margin trading. Spot trading remains unaffected unless otherwise announced.
Q: Why are discount rates being set to zero?
A: Zero discount rates indicate that these assets are no longer eligible as effective collateral in cross-margin accounts, reflecting updated risk assessments.
Q: Will I lose access to my funds if I don’t repay my margin loan on time?
A: No funds are lost, but failure to repay may result in forced liquidation of collateral to cover outstanding debt.
Q: How can I download my trading history before delisting?
A: Visit the Reports Center on the OKX web platform to export order and transaction logs.
Q: Are more tokens likely to be delisted in the future?
A: OKX regularly reviews asset eligibility based on liquidity, compliance, and market demand. Users should monitor official announcements for updates.
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Key Takeaways
The removal of FITFI and BLOCK from perpetual futures and margin trading reflects OKX’s proactive approach to risk management and market health. Traders should act promptly by:
- Closing leveraged positions
- Repaying margin loans
- Monitoring settlement timelines
- Preparing for temporary transfer restrictions
By staying informed and responsive, users can navigate these transitions smoothly while protecting their capital.
Core Keywords:
- OKX delisting
- FITFI trading
- BLOCK token
- Perpetual futures
- Margin trading suspension
- Discount rate adjustment
- Cryptocurrency risk management
- Leverage trading changes
Stay updated with official OKX channels for future announcements regarding asset listings and trading pair adjustments.