To enhance market liquidity and improve the overall user experience, OKX has announced the upcoming delisting of several margin and perpetual futures trading pairs. This strategic move reflects the platform’s ongoing commitment to maintaining a healthy, efficient trading environment. Below is a detailed breakdown of the changes, timelines, risk management adjustments, and key actions users must take.
Perpetual Futures Delisting Schedule
OKX will delist the following perpetual futures contracts effective 3:00 PM Vietnam Time on March 11, 2025:
- BONE/USDT Perpetual Futures
- RACA/USDT Perpetual Futures
After this time, all related trading activity will cease. Open orders in the order book will be automatically canceled upon delisting.
Positions held in these contracts will be automatically settled using the average index price from the hour preceding delisting. In cases where the index price shows abnormal fluctuations during that window, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.
👉 Stay ahead of market changes and manage your futures positions efficiently with advanced tools.
Funding Rate Adjustment
The funding rate at 3:00 PM Vietnam Time on the delisting day will be set to zero. As a result, no funding payment will be recorded for that settlement cycle.
Risk Management and Withdrawal Restrictions
Given potential market volatility ahead of delisting, users are strongly advised to:
- Reduce leverage
- Close positions early
- Monitor account health closely
Additionally, users holding positions valued over $10,000 at the time of settlement will face temporary withdrawal restrictions for 30 minutes after delisting. This measure ensures orderly settlement and system stability.
Withdrawal functionality will be restored automatically after the 30-minute window. All trade history and settlement records will remain accessible via the OKX platform.
Users who wish to retain historical data can download reports from the Reports Center on the OKX website before or after delisting.
Risk Control Parameter Updates
To ensure smooth execution during delisting, OKX will temporarily adjust its risk control mechanisms:
- Price limit rules may be modified based on prevailing market conditions if significant deviations from prior contract prices occur.
These dynamic adjustments help prevent slippage and protect traders during high-volatility periods.
Margin Trading Pair Delisting
In parallel with futures adjustments, OKX will also delist the following margin trading pairs:
- BONE/USDT
- RACA/USDT
The timeline for these changes is as follows:
- Borrowing suspension: 2:00 PM Vietnam Time on March 4, 2025
- Delisting window: Between 1:00 PM and 3:00 PM Vietnam Time on March 10, 2025
Each delisting process will take approximately two hours to complete per trading pair.
All pending margin orders will be canceled at delisting. Users with outstanding loans or collateral tied to these pairs must repay debts or adjust positions before the deadline.
Failure to act may trigger forced liquidation if loans remain unsettled by the cutoff time.
👉 Secure your assets and avoid liquidation with real-time margin monitoring and alerts.
Critical User Advisory
Extreme price volatility may occur before delisting. To avoid unexpected losses due to forced liquidation, OKX strongly recommends that users:
- Cease trading these pairs immediately
- Close all open spot and margin positions early
- Repay loans or add additional collateral if necessary
Proactive risk management is essential during transitional periods like this.
Discount Rate Adjustment: From Tiered to Zero
As part of broader risk mitigation, OKX is adjusting the discount rate for BONE and RACA tokens used as collateral in cross-margin accounts.
Previous Discount Structure
Previously, OKX applied tiered discount rates based on collateral size:
BONE Discount Tiers
- Tier 1 (up to 3,500 BONE): 80% discount rate
- Tier 2 (up to 5,800 BONE): 78%
- Tier 3 (up to 10,000 BONE): 77%
- Each subsequent tier increased position size by 5,800 with a 1% reduction in rate
RACA Discount Tiers
- Tier 1 (up to 10M RACA): 80%
- Tier 2 (up to 18M RACA): 78%
- Tier 3 (up to 28M RACA): 77%
- Each next tier increased by 18M RACA with a 1% rate reduction
New Discount Policy
Effective immediately, the discount rate for both BONE and RACA will be adjusted as follows:
| Maximum Collateral | Discount Rate |
|---|---|
| 0 | 0 |
This means these tokens will no longer be eligible for use as discounted collateral in cross-margin trading.
Understanding Discount Rates
In multi-currency cross-margin mode, various cryptocurrencies can be converted into USD value to serve as margin. However, due to varying market liquidity, OKX applies discount rates to reflect realistic valuation and manage systemic risk.
By reducing the discount rate to zero, OKX acknowledges reduced market depth and increased risk associated with these assets.
Impact on Users
With discount rates at zero:
- The effective USD value of BONE and RACA collateral drops significantly
- Maintenance margin requirements will rise
- Risk of forced liquidation increases for leveraged positions
To mitigate this, users should:
- Reduce exposure
- Add stablecoin or high-liquidity collateral
- Close high-risk positions proactively
Core Keywords
- Perpetual futures delisting
- Margin trading pairs
- Discount rate adjustment
- Forced liquidation prevention
- Risk management in crypto
- OKX futures settlement
- Withdrawal restrictions
- Market liquidity improvement
Frequently Asked Questions (FAQ)
Why is OKX delisting BONE and RACA trading pairs?
OKX is delisting these pairs to improve overall market liquidity and user experience. Low trading volume and limited market depth have made these pairs less sustainable for long-term support.
What happens to my open positions after delisting?
All open perpetual futures positions in BONE/USDT and RACA/USDT will be settled at the average index price one hour before delisting. Margin positions must be closed or repaid before the deadline to avoid forced liquidation.
Can I still withdraw funds after delisting?
Yes, but users with large unsettled positions (> $10,000) will face a 30-minute withdrawal freeze post-settlement. Normal access resumes automatically afterward.
Why are discount rates being reduced to zero?
Reducing discount rates to zero reflects decreased market liquidity and higher risk. This adjustment ensures fair valuation of collateral and protects the broader trading ecosystem from volatility spillover.
How can I avoid forced liquidation?
To avoid liquidation:
- Close positions early
- Repay loans before deadlines
- Replace BONE/RACA collateral with more stable assets
- Use lower leverage
Where can I download my trading history?
You can access and download full trade logs and settlement records from the Reports Center on the OKX website at any time after delisting.
👉 Access comprehensive trading reports and analytics to track your performance seamlessly.
Final Notes
These changes underscore OKX’s proactive approach to platform optimization and risk governance. While transitions may require short-term adjustments, they ultimately support a safer, more resilient trading environment.
Traders are encouraged to stay informed, act early, and leverage available tools to navigate delisting periods smoothly.