TLDR
OKX will delist USDC?margined perpetual futures at 8:00 am (UTC) on 11 Dec. The affected contracts are BTCUSDC and ETHUSDC per an exchange notice.
- Contracts: BTCUSDC and ETHUSDC USDC?margined perpetual futures will be removed.
- Settlement: delivery uses the average index price from the hour before delisting; the 8:00 am funding rate is set to 0.
- Migration: users are advised to move to USD??margined futures; USDC can still be the settlement currency.
Deep Dive
1. What Is Being Delisted
The removal specifically targets USDC?margined perpetuals for BTCUSDC and ETHUSDC to streamline liquidity and user experience, as stated in the notice above. This does not affect spot markets or other margin bases.
If you use USDC?margined perps on BTC or ETH, plan to shift your exposure before 11 Dec.
2. How Settlement Will Work
Positions remaining at the deadline will be delivered at the arithmetic average of the OKX index price during the hour before 8:00 am (UTC). If the index prints abnormally, OKX may adjust the final delivery price, and the funding rate at 8:00 am is set to 0, so no funding or delivery fee is charged for that period (per the notice above).
Order book orders on the affected pairs will be canceled after delisting. For the first 30 minutes after delivery, accounts with delivered position value above 10,000 USD cannot transfer assets out, then resume normal transfers.
Expect a rules?based delivery price and brief transfer restrictions for large delivered positions. Volatility into the cutoff can widen spreads.
3. Where To Trade Instead
The exchange advises closing USDC?margined positions and reopening in USD??margined futures. USDC can still be chosen as the settlement currency for USD??margined contracts. Trading bots tied to the delisted pairs will wind down in the hour before the cutoff, with history retained and data downloadable from the report center (per the notice above).
You can keep using USDC operationally within USD??margined futures. Check any bot strategies or API workflows tied to BTCUSDC or ETHUSDC perps.
Conclusion
OKX is retiring USDC?margined BTC and ETH perpetuals on 11 Dec at 8:00 am (UTC), with delivery based on the prior hours index average and a zero funding rate at the cutoff. If you hold these perps, the practical path is to transition to USD??margined futures ahead of the deadline to avoid forced delivery and potential slippage, while noting brief transfer restrictions for large delivered positions per the notice above.
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