The cryptocurrency landscape is constantly evolving, and exchanges must adapt to ensure compliance, security, and market stability. In line with these priorities, OKX has announced the upcoming delisting of FET (Fetch.ai) from its leveraged trading and perpetual contract offerings. This move aligns with project-level changes initiated by the Fetch.ai team, specifically their token swap requirements.
Users holding or trading FET-based derivatives should take note of the timeline, risk implications, and procedural adjustments outlined below. This guide provides a clear breakdown of what’s changing, when it’s happening, and how traders can protect their positions.
📅 Perpetual Contract Termination Schedule
The FETUSDT perpetual contract will be officially terminated on:
July 5, 2025, between 4:00 PM and 5:00 PM (UTC+8)
At the time of termination:
- All open trading orders will be automatically canceled.
- Active positions will be forcefully settled using the arithmetic average of the OKX index price over the hour preceding delisting.
- The final funding rate for the period ending at 4:00 PM will be set to 0%, meaning no funding fees will be charged or recorded.
- No additional fees—such as delivery or settlement charges—will apply during this process.
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Price Protection During Settlement
In cases where the index price shows signs of manipulation or extreme volatility in the final hour, OKX reserves the right to adjust the settlement price to a more reasonable level. This ensures fair treatment across all user positions and prevents unfair liquidations due to artificial price swings.
🔒 Risk Management Measures Before Delisting
Market volatility often increases as contracts approach expiration or delisting. To mitigate systemic risk and protect users, OKX has implemented enhanced risk controls for the FETUSDT contract in its final stages.
Adjusted Price Limits (Circuit Breakers)
Price limits are designed to prevent excessive slippage and stabilize order books during high-volatility periods. The following adjustments will be applied:
Standard Formula After First 10 Minutes:
- Highest Limit:
Min[Max(Index, Index × (1 + Y) + 10-min premium average), Index × (1 + Z)] - Lowest Limit:
Max[Min(Index, Index × (1 – Y) + 10-min premium average), Index × (1 – Z)]
| Time Before Delisting | X (%) | Y (%) | Z (%) |
|---|---|---|---|
| Final 48 hours | 2 | 2 | 5 |
| Final 30 minutes | 1 | 1 | 2 |
⚠️ Note: These parameters may be further adjusted at OKX’s discretion if abnormal trading behavior occurs.
These tighter bands help maintain orderly markets and reduce the chance of flash crashes or spikes affecting settlement fairness.
⚖️ Position Liquidation & Risk Coverage Protocol
If any user positions result in liquidation losses (i.e., "clawback" or "auto-deleverving" scenarios) at the time of delisting:
- The Insurance Fund will cover initial shortfalls.
- If the fund is insufficient, Auto-Deleveraging (ADL) will activate, starting with users who have the highest profit margins.
Additionally:
- Users whose settled position value exceeds $10,000 will face a temporary freeze on asset transfers for 30 minutes post-settlement.
- This restriction ensures system integrity during high-load processing windows.
Historical trade records and billing statements will remain accessible after delisting. Users are encouraged to download their data via the desktop Order Center before and after the event for audit and tax purposes.
💸 Leveraged Trading & Flexible Savings Termination
In addition to perpetual contracts, FET/USDT leveraged trading pairs and flexible lending services are also being phased out.
| Service | Action | Time (UTC+8) |
|---|---|---|
| FET/USDT Flexible Lending | Borrowing Disabled | June 27, 2025 – 3:00 PM |
| FET/USDT Leveraged Trading | Full Delisting | July 4, 2025 – 3:00 PM |
After these times:
- All open margin orders will be canceled.
- The delisting process will take approximately one hour per pair.
- Any outstanding borrows must be repaid manually before delisting.
❗ Failure to repay borrowed assets will trigger automatic repayment using available collateral. Given market fluctuations, this could lead to unexpected losses.
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💹 Collateral Discount Rate Adjustment for FET
To reflect reduced liquidity and increased risk ahead of delisting, OKX has updated the collateral discount rate for FET in cross-margin accounts.
| Tier (USD Value) | Previous Discount Rate | New Discount Rate |
|---|---|---|
| $0 – $50,000 | 50% | 0% |
| Above $50,000 | 0% | 0% |
What Is a Collateral Discount Rate?
In cross-margin trading, multiple cryptocurrencies can act as collateral by being converted into USD value. However, due to varying levels of market depth and volatility, platforms apply discount rates to mitigate risk.
For example:
- A 50% discount meant $10,000 worth of FET counted as only $5,000 in usable margin.
- Now, FET holds zero discount value, meaning it cannot contribute to margin requirements in cross positions.
This change discourages overexposure to an asset nearing delisting and strengthens overall system resilience.
Learn more about how discount rates work: OKX Support – Discount Rates
🔍 Frequently Asked Questions (FAQ)
Q1: Why is FET being removed from derivatives trading?
A: The removal supports Fetch.ai’s official token migration process. OKX acts in coordination with project teams to ensure smooth transitions and minimize disruption for users.
Q2: Do I need to close my position before delisting?
A: Yes. All open perpetual and margin positions will be forcibly settled. It's strongly advised to close manually beforehand to avoid unfavorable execution prices due to volatility.
Q3: Will I be charged fees during forced settlement?
A: No. There are no funding fees in the final cycle, and no delivery or settlement fees apply.
Q4: Can I still trade FET spot after delisting?
A: This announcement only affects leveraged products and perpetuals. Spot trading availability depends on further updates—monitor official channels for details.
Q5: What happens if I don’t repay my FET borrowings?
A: The system will initiate automatic repayment, selling other assets in your margin account if necessary. This may occur at disadvantageous prices during volatile conditions.
Q6: How can I check my historical trades after delisting?
A: Trade history remains available through the desktop version of OKX under Order Center > Trade History. Export options allow CSV downloads for personal records.
✅ Final Recommendations for Traders
As the delisting dates approach:
- Review all active FET-related positions.
- Repay borrowed amounts well in advance.
- Consider reducing leverage exposure as volatility increases.
- Download historical data for accounting or analysis needs.
- Monitor OKX announcements for any last-minute updates.
Markets respond dynamically to structural changes like delistings. Being proactive helps preserve capital and maintain control over your investment decisions.
By understanding these updates and acting accordingly, users can navigate the FET delisting smoothly while maintaining compliance and minimizing financial risk. OKX remains committed to transparency, user protection, and continuous innovation in digital asset services.