As part of ongoing efforts to manage market risk and enhance user trading experiences, OKX will be discontinuing perpetual futures contracts and leveraged trading pairs for several digital assets. This strategic adjustment supports platform stability, aligns with evolving market conditions, and ensures long-term service quality for all users.
This article outlines the full timeline, key changes, and actionable steps traders should take ahead of these updates. Whether you're actively holding positions or simply monitoring portfolio exposure, understanding these changes is critical to maintaining control over your assets and avoiding unexpected liquidations or restrictions.
Perpetual Contracts Being Retired
Starting July 4, 2025, the following USDT-margined perpetual contracts will be permanently taken offline:
- NCUSDT
- SLEEFUSDT
- KNCUSDT
- ALPHAUSDT
👉 Stay ahead of contract expirations and optimize your trading strategy now.
Trading for these instruments will cease at 4:00 PM UTC+8, after which all open orders will be automatically canceled. Open positions will be settled using the arithmetic average of the OKX Index price during the one hour preceding de-listing.
In cases where index manipulation is detected, OKX reserves the right to adjust the final settlement price to a fair market value to ensure equitable delivery outcomes.
Funding Fees and Settlement Costs
Notably:
- The funding rate at 4:00 PM on the day of retirement will be set to 0%, meaning no funding fee will be charged.
- There are no delivery fees or additional charges associated with position settlement.
This zero-cost closeout reduces friction during transition and allows users to exit positions without extra cost burdens.
Post-Settlement Asset Transfer Restrictions
Users holding perpetual contract positions valued at over $10,000 at the time of settlement will face a temporary 30-minute restriction on transferring assets out of their trading accounts. This measure helps maintain system integrity during high-volume processing periods and lifts automatically after the cooling period ends.
Historical trade records, including commission details and billing history, will remain accessible post-retirement. Users are encouraged to export this data via the desktop Order Center before July 4 for archival purposes.
Adjustments to Leveraged Trading & Margin Services
To facilitate a smooth decommissioning process, OKX has already initiated phased suspensions across relevant leveraged trading pairs. Borrowing functionality was disabled on June 30, 2025, at 3:00 PM UTC+8 for the following pairs:
- STETH/USDT
- SLERF/USDT
- KNC/USDT
- PRCL/USDT
- BCH/BTC
- LTC/BTC
Full leveraged trading and spot margin lending services for these pairs will be suspended between July 3–4, 2025, within a 2-hour window from 2:00 PM to 6:00 PM UTC+8, depending on the specific asset.
During this window:
- Market orders in leveraged trading will be canceled.
- Margin lending services will be temporarily unavailable.
- The entire process lasts approximately two hours per currency pair.
Critical Repayment Deadline
All users who have borrowed or pledged assets in these pairs must repay outstanding loans before their respective offline window begins. Failure to do so will trigger an automated forced repayment by the system.
⚠️ Risk Warning: Due to potential volatility around decommissioning times, OKX strongly advises closing positions proactively to avoid losses from forced unwinds or unfavorable liquidation prices.
Currency Discount Rate Adjustment
In parallel with contract retirements, OKX is updating its cross-margin currency discount rates—a key risk control mechanism in multi-currency margin accounts.
Previously, various tokens carried non-zero discount rates when used as collateral. These rates reflected each asset’s liquidity profile and market stability. However, due to recent market fluctuations and upcoming delistings, OKX is systematically reducing discount rates for affected currencies to 0%.
What Is a Currency Discount Rate?
In a cross-margin model, different cryptocurrencies can serve as margin collateral after being converted into USD equivalents. However, not all assets have equal liquidity or price stability.
To mitigate risk, OKX applies a discount rate when calculating the effective value of each currency as margin. For example, if a token has a 20% discount rate, only 80% of its market value counts toward margin support.
Now, affected currencies will see their maximum allowable collateral value drop to zero discount—meaning they retain full face-value treatment until further notice—but users should anticipate rising maintenance margin requirements as rules evolve.
🔔 Important: As discount rates decline, the maintenance margin ratio increases, raising the risk of forced liquidation for under-collateralized positions. Traders relying on these assets as primary collateral should act early.
Recommended Risk Mitigation Actions
To protect your portfolio:
- Close or reduce high-leverage positions.
- Replace soon-to-be-deprecated collateral with more stable assets.
- Deposit additional margin if nearing liquidation thresholds.
Frequently Asked Questions (FAQ)
Q: Why is OKX retiring these perpetual contracts and leveraged pairs?
A: To manage systemic risk, respond to changing market dynamics, and improve overall trading stability. Regular review of listed products ensures only viable, liquid assets remain available for derivatives trading.
Q: Will I lose money if I don’t close my position before shutdown?
A: No—positions are settled fairly using the index average price. However, failing to repay loans or ignoring margin changes may result in forced liquidations or penalties.
Q: Can I still view my past trades after the contract goes offline?
A: Yes. All historical order and billing records remain accessible through the desktop Order Center. Download them promptly for personal records.
Q: What happens if I miss the loan repayment deadline?
A: The system will automatically initiate forced repayment, which may occur at suboptimal rates during volatile periods—potentially leading to losses.
Q: Are more currency pairs expected to be retired in the future?
A: OKX continuously evaluates its offerings based on liquidity, demand, and risk metrics. Users should monitor official announcements regularly.
Q: How can I stay updated on future changes?
A: Enable platform notifications and check the official announcements section frequently. Proactive awareness helps prevent surprises.
👉 Access real-time market data and adjust your strategy before key deadlines hit.
Final Notes
These operational updates reflect OKX's commitment to responsible innovation and sustainable trading environments. By phasing out lower-liquidity instruments and tightening risk parameters, the platform strengthens its foundation for future growth.
Core keywords naturally integrated throughout: perpetual contracts, leveraged trading, margin settlement, discount rate, position liquidation, funding fee, asset transfer restriction, risk management.
User action is essential. Whether you're managing active derivatives exposure or using certain tokens as margin collateral, now is the time to review your holdings, settle debts, and adapt to new conditions.
👉 Take control of your trading future—act before de-listing day arrives.