The cryptocurrency trading landscape is constantly evolving, and exchanges must adapt to maintain optimal market conditions. In line with this, OKX has announced upcoming delistings of specific trading instruments to enhance market liquidity, ensure user safety, and improve the overall trading experience. This update affects both perpetual futures and margin trading pairs involving FITFI and BLOCK.
Understanding these changes is crucial for traders who currently hold positions or plan to engage with these assets. This article outlines the full timeline, implications, and risk management strategies related to the delisting process—ensuring you stay informed and in control.
👉 Discover how to protect your portfolio during market transitions like this one.
Perpetual Futures Delisting Schedule
OKX will officially delist two perpetual futures contracts:
- FITFI/USDT
- BLOCK/USDT
Both pairs will cease trading on August 22, 2024, at 8:00 am UTC. After this time, all open orders for these contracts will be automatically canceled from the order book.
Final Settlement and Position Delivery
All open positions at the time of delisting will be settled through automatic delivery. The final settlement price will be calculated as the arithmetic average of the OKX index price between 7:00 am and 8:00 am UTC on the same day.
In cases where the index price shows abnormal fluctuations during this one-hour window, OKX reserves the right to adjust the final delivery price to a fair and reasonable level to prevent manipulation or unfair outcomes.
Funding Rate Adjustment
On the day of delisting, the funding rate at 8:00 am UTC will be set to 0%. As a result, no funding fees will be charged or credited during this final settlement period. This ensures a clean and predictable close for all traders involved.
Post-Delisting Withdrawal Restrictions
To maintain platform stability immediately after delisting:
- Traders holding positions valued at over $10,000 USD equivalent at delivery time will face a 30-minute restriction on transferring assets out of their trading accounts.
- Asset transfers will resume normally after this brief holding period.
This measure helps prevent sudden capital movements that could destabilize account balances or trigger cascading liquidations across other markets.
Risk Control Parameter Updates
To minimize volatility in the final hours before delisting, OKX has introduced temporary adjustments to its price limit mechanism.
Price Limit Rules Overview
During regular trading, price limits are determined based on the underlying index and recent premium averages. However, special rules apply in the final 48 hours:
| Time Before Delivery | X (%) | Y (%) | Z (%) |
|---|---|---|---|
| 48 hours prior | 2 | 2 | 5 |
| 30 minutes prior | 1 | 1 | 2 |
These values influence how high or low prices can go relative to the index:
Within 10 minutes of contract generation:
- Max Price:
Index × (1 + X) - Min Price:
Index × (1 – X)
- Max Price:
After 10 minutes:
- More complex bounds using Y and Z ensure tighter control as delisting approaches.
Note: If significant deviations occur between the contract and index price, OKX may further adjust limits based on real-time market conditions.
Margin Trading Pair Adjustments
In parallel with perpetual futures removal, OKX is also phasing out margin support for FITFI/USDT and BLOCK/USDT.
| Trading Pair | Borrowing Suspension | Delisting Window |
|---|---|---|
| FITFI/USDT | August 14, 6:00 am UTC | August 20, 7:00–9:00 am UTC |
| BLOCK/USDT | August 14, 6:00 am UTC | August 20, 9:00–11:00 am UTC |
Key Impacts
- The ability to borrow FITFI or BLOCK will be suspended starting August 14.
- Full delisting—including cancellation of open margin orders—will occur within the specified two-hour windows on August 20.
- Each pair will take approximately one hour to fully deactivate across systems.
Users with outstanding loans or collateral tied to these assets must act promptly.
👉 Learn how to manage your margin positions safely before critical deadlines.
Repayment Requirements
All borrowers must repay their debts before the delisting window begins. Failure to do so will trigger an automatic forced repayment by the system. This may involve partial liquidation of collateral to cover dues, potentially resulting in losses if market prices move unfavorably.
Given potential price volatility ahead of delisting, OKX strongly advises users to:
- Close all related positions early
- Repay loans proactively
- Avoid last-minute actions that could expose them to slippage or liquidation risks
Discount Rate Changes for FITFI and BLOCK
As part of broader risk management efforts, OKX has updated discount rates applied to these tokens in multi-currency cross margin accounts.
| Asset | Previous Discount Rate (Tier) | New Discount Rate |
|---|---|---|
| FITFI | 0.5 (up to $50,000) | 0 |
| BLOCK | 0.5 (up to $50,000) | 0 |
| 0 (above $50,000) |
Why Discount Rates Matter
In cross-margin trading, various cryptocurrencies are converted into USD value to serve as margin. However, due to differences in liquidity, volatility, and market depth, not all assets are treated equally.
Discount rates reflect how much of an asset’s nominal value can actually count toward margin requirements. A rate of 0% means the asset offers no margin utility—effectively treating it as non-collateralizable.
This change signals reduced confidence in the near-term stability of FITFI and BLOCK within leveraged environments and aligns with pre-delisting protocols.
Frequently Asked Questions (FAQ)
Q: What happens if I don’t close my perpetual position before delisting?
A: Your position will be automatically delivered using the average index price from 7:00–8:00 am UTC on August 22. You cannot trade or modify it afterward.
Q: Can I still withdraw funds immediately after delisting?
A: If your delivered position exceeds $10,000 USD in value, withdrawals will be locked for 30 minutes post-delisting. Otherwise, normal access resumes immediately.
Q: Will I be charged funding fees on the day of delisting?
A: No. The funding rate is set to zero at 8:00 am UTC on August 22, so no funding payment will be processed.
Q: What should I do if I have an open margin loan in FITFI or BLOCK?
A: Repay your loan before August 20. Unpaid balances will trigger forced repayment, which may include liquidation of your collateral.
Q: Why are discount rates being removed?
A: As part of risk mitigation ahead of delisting, OKX no longer recognizes FITFI and BLOCK as viable margin assets due to declining liquidity.
Q: Where can I find historical order data after delisting?
A: All order history and billing records remain accessible via the Report Center on the OKX website. Users are encouraged to download important data beforehand.
Final Thoughts and Recommendations
Market changes like delistings are inevitable in fast-moving crypto ecosystems. While they may initially cause concern, they often reflect proactive steps by platforms like OKX to uphold trading integrity and user protection.
Traders should use this information to reassess exposure, rebalance portfolios, and avoid unnecessary risks during transition periods.
👉 Stay ahead of exchange updates and optimize your trading strategy today.
By staying informed and acting early—especially when it comes to closing leveraged positions and repaying loans—you can navigate these changes smoothly and securely.
Remember: Proactive risk management isn't just about avoiding loss—it's about preserving opportunity in the next market cycle.