In an ongoing effort to manage market risk and ensure a high-quality trading experience, OKX has announced the planned delisting of several perpetual contracts. This strategic move reflects the platform's commitment to maintaining a healthy, secure, and sustainable trading environment for all users. Below is a comprehensive overview of the delisting schedule, key procedures, risk management recommendations, and what users should expect during this transition.
Delisting Schedule for Perpetual Contracts
The following perpetual contracts will be officially delisted on June 27, 2025, at 4:00 PM (UTC+8):
- SANDUSD Perpetual Contract
- ALGOUSD Perpetual Contract
- TONUSD Perpetual Contract
At the specified time, trading for these contracts will cease immediately. All open orders will be automatically canceled, and outstanding positions will be settled using a standardized process designed to ensure fairness and transparency.
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Settlement Process and Pricing Mechanism
When a perpetual contract is delisted, OKX uses a reliable and objective method to determine the final settlement price. For the upcoming delistings, the arithmetic average of the OKX index price over the hour preceding delisting will serve as the official settlement value.
This approach minimizes volatility-based distortions and provides a stable reference point for closing all open positions. In rare cases where the index price appears to be manipulated or abnormally skewed during that final hour, OKX reserves the right to adjust the settlement price to a more reasonable level based on market conditions.
Notably:
- The funding rate for the final period (at 4:00 PM) will be set to 0%, meaning no funding payments will be recorded or processed.
- Users will not incur any additional fees during the settlement process — including funding fees or delivery fees.
This fee waiver reduces unnecessary financial burden and supports a smoother transition for affected traders.
Risk Management Recommendations
Market volatility often increases significantly as contracts approach delisting. Price swings can amplify risks, especially for leveraged positions. To protect your capital, consider the following proactive measures:
- Reduce your effective leverage: Lowering your exposure can help cushion against sudden price movements.
- Close positions early: Avoid last-minute execution risks by settling your trades ahead of the deadline.
- Monitor market depth and liquidity: Thin order books near expiry may lead to slippage or unfavorable fills.
Staying ahead of these changes ensures you maintain control over your trading strategy and risk profile.
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Post-Delisting Account Restrictions
After the contracts are delisted, users who held positions valued at over $10,000 USD at settlement will face temporary restrictions on asset transfers across their trading accounts. This measure is designed to prevent potential abuse or imbalance during the settlement phase.
However, this restriction is time-limited:
- It lasts for 30 minutes after delisting.
- After this period, full transfer functionality will be restored automatically.
All other trading activities remain unaffected, and users can continue to trade other available instruments without interruption.
Accessing Historical Data
Even after delisting, OKX ensures full transparency and data availability. Users can still access:
- Historical order records
- Trade execution logs
- Funding fee statements
- Position settlement details
These records will remain accessible through the Orders Center on the desktop platform. If you require backups for accounting, analysis, or personal reference, it’s recommended to download your data promptly after delisting.
Adjustments to Risk Control Parameters
To support a smooth and orderly wind-down of these contracts, OKX will implement temporary adjustments to certain risk parameters in the lead-up to delisting:
Price Limit Rules
If significant price deviations occur due to low liquidity or external market shocks, OKX may dynamically adjust price bands and limit rules to maintain market integrity. These changes aim to prevent extreme volatility and ensure fair execution for all users.
Such adjustments are made transparently and align with standard risk mitigation practices used across regulated financial platforms.
Why Does Contract Delisting Happen?
Perpetual contract delisting is a routine part of exchange operations. It typically occurs when:
- Trading volume and open interest decline below sustainable levels.
- Market demand shifts toward newer or more liquid assets.
- Risk management frameworks require periodic optimization.
Rather than allowing illiquid contracts to accumulate and pose systemic risks, proactive delisting enhances overall market health and user safety.
Frequently Asked Questions (FAQ)
Q: What happens if I don’t close my position before delisting?
A: All open positions will be automatically settled at the final index-based price. You do not need to take action, but it’s advisable to close manually if you want greater control over exit timing.
Q: Will I be charged fees when my position is settled?
A: No. There are no funding fees, delivery fees, or other charges applied during the automatic settlement process.
Q: Can I still view my trade history after the contract is removed?
A: Yes. All historical data remains available in your account under the Orders Center on the desktop version.
Q: Why are SANDUSD, ALGOUSD, and TONUSD being delisted now?
A: This decision follows routine market reviews focused on liquidity, user activity, and risk metrics. Delisting underperforming contracts helps maintain platform efficiency.
Q: Does this mean these assets are no longer supported on OKX?
A: Not necessarily. While these specific perpetual contracts are being removed, the underlying assets (SAND, ALGO, TON) may still be available for spot trading or other derivatives products.
Q: How will I know about future delistings?
A: OKX publishes advance notices through official announcements. Regularly checking the Announcements section ensures you stay informed.
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Final Thoughts
The upcoming delisting of SANDUSD, ALGOUSD, and TONUSD perpetual contracts is a standard operational procedure aimed at preserving market stability and user protection. By understanding the timeline, settlement mechanics, and recommended actions, traders can navigate this change confidently.
OKX continues to refine its product offerings to deliver superior performance, enhanced security, and optimal trading conditions. As markets evolve, so too does the platform — always with the trader’s best interests in mind.
Keywords: perpetual contract delisting, OKX futures, contract settlement process, risk management in crypto trading, crypto derivatives update, funding rate adjustment, index-based pricing