OKX Perpetual Contract Delisting: Liquidation and User Risk Controls
Summary
The document outlines OKX’s planned removal of BADGER/USDT, BAL/USDT, and NIL/USDT perpetual contracts. It describes the exchange’s stated handling of open positions: liquidation based on the arithmetic average of the preceding hour’s index prices, with discretion to adjust the final delivery price if index movements are abnormal. Funding rates are to be set to zero, and the document says delivery commissions will not apply during the process.
It also describes temporary transfer restrictions for users above a specified position size, adjustments to risk controls and price limits, and continued access to order history and invoices after delisting. These details can help derivatives traders understand exchange procedures and operational risks when a contract is removed. The account is an exchange announcement, not an independent assessment of whether the pricing method prevents manipulation or whether liquidation will be orderly. Its schedule and terms are time-specific; users should verify current exchange notices before acting.
Key ideas
- The exchange says affected positions will be liquidated using an average of recent index prices.
- Abnormal index movements may lead OKX to adjust the final delivery price.
- The notice describes zero funding rates and no delivery commissions during delisting.
- Transfer restrictions and risk-control changes may affect users during the closeout process.
- Order history and invoice records are stated to remain accessible after delisting.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.