OKX will delist five USDⓈ-M perpetual futures contracts on June 12, 2025, giving traders less than 48 hours to close positions or face automatic settlement at index-average prices.
The exchange published the notice on June 10, 2025, confirming that XUSDT, BSVUSDT, GUNUSDT, BRUSDT, and SWELLUSDT perpetual contracts will cease trading at 08:00 UTC on June 12, 2025. The move affects only selected contracts, not the full USDⓈ-M perpetual suite.
USDⓈ-M perpetual contracts are derivatives settled in stablecoins that allow traders to hold leveraged long or short positions without an expiry date. Delistings of this type force remaining holders into a settlement process dictated by the exchange.
Which Contracts Are Being Removed and When
The June 10 notice lists five perpetual futures pairs scheduled for removal: XUSDT, BSVUSDT, GUNUSDT, BRUSDT, and SWELLUSDT. All five will be delisted simultaneously at 08:00 UTC on June 12, 2025.
OKX is not the only exchange trimming these products. BloFin separately announced it would delist BRUSDT and XUSDT perpetual contracts at 07:00 UTC on June 12, 2025, citing its own periodic token review process. The overlap in timing and tickers suggests shared liquidity concerns across platforms.
How Open Positions Will Be Settled
All pending orders in the affected contracts will be canceled once the delisting takes effect. Traders who have not closed positions manually before 08:00 UTC will have their positions delivered automatically.
The delivery price will be calculated as the arithmetic average of the corresponding OKX index during the one hour preceding delisting. OKX noted that the index-average method is subject to adjustment if the index behaves abnormally during that window.
The exchange will set the current funding rate at the delisting timestamp to zero. As a result, funding fees for the final period will not appear in users’ billing records, a detail relevant to traders tracking realized PnL across institutional-grade market making or hedging strategies.
Users whose delivered positions exceed 10,000 USD in value at settlement will face a 30-minute restriction on transferring assets out of their trading account.
This restriction is a risk-control measure that prevents large position holders from moving funds immediately after forced settlement, likely aimed at reducing manipulation risk around the delivery price calculation.
What Traders Should Do Before June 12
Traders holding any of the five affected contracts should close positions or reduce exposure before 08:00 UTC on June 12. Waiting for automatic delivery means accepting the index-average price, which may differ from market expectations during low-liquidity conditions.
Any open limit or stop orders in the affected pairs will be automatically canceled at delisting. Traders relying on stop-loss orders for risk management in these contracts should close manually rather than assume protective orders will execute.
The zero funding rate at delivery simplifies PnL calculation for the final period but also means no funding payment will compensate holders for any overnight carry. Traders running cross-exchange arbitrage strategies involving these pairs should unwind those positions before the cutoff.
Why Exchanges Remove Perpetual Contracts
OKX’s published delisting standards state that perpetual contracts can be removed when liquidity and market depth are insufficient, when index components are unstable, or when there is substantial market risk. The exchange did not specify which criterion applied to each of the five contracts in this notice.
The fact that BloFin is removing two of the same tickers on the same day points toward broader market structure issues rather than an OKX-specific decision. When multiple exchanges delist the same derivative simultaneously, it typically reflects declining open interest that makes the product uneconomical to maintain.
It is important to note that a perpetual contract delisting does not necessarily reflect a judgment on the underlying token’s viability. Spot trading for the affected tokens may continue on OKX and other venues, and the delisting relates specifically to the leveraged derivative product. Traders monitoring spot ETF developments in other assets should understand that derivatives delistings operate under separate criteria from spot market decisions.
OKX Market Context
OKB, the exchange’s native token, traded at $85.54 at the time of writing, down 1.28% over 24 hours. The token’s market capitalization stood at approximately $1.8 billion with daily trading volume near $15.5 million.
The broader crypto market sentiment registered as neutral, with the Fear and Greed Index at 50. The delisting announcement did not appear to trigger any outsized reaction in OKB pricing, consistent with the routine nature of periodic contract removals.
FAQ About the OKX USDⓈ-M Perpetual Contract Delisting
When does the delisting take effect?
All five contracts will be removed at 08:00 UTC on June 12, 2025. Positions not closed before that time will be settled automatically.
Which contracts are affected?
XUSDT, BSVUSDT, GUNUSDT, BRUSDT, and SWELLUSDT perpetual futures only. Other USDⓈ-M perpetual contracts on OKX are not impacted by this notice.
What happens if I still hold a position at delisting?
OKX will deliver the position at the arithmetic average price of the corresponding index during the hour before 08:00 UTC. If your position exceeds 10,000 USD at delivery, you will face a 30-minute transfer restriction.
Will I be charged funding fees at delisting?
No. OKX sets the funding rate to zero at the delisting timestamp, so no funding fee will be charged or received for the final period.
Does this mean the underlying tokens are being delisted from spot trading?
Not necessarily. The announcement covers only USDⓈ-M perpetual futures. Spot market availability is governed by separate listing policies.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
