SWRVUSDT Perpetual Contract Delisting Announcement

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SWRVUSDT Perpetual Contract Delisting Notice

As part of our ongoing commitment to risk management and user experience, OKX regularly reviews and delists perpetual contracts with insufficient liquidity. In line with this policy, the SWRVUSDT perpetual contract will be officially delisted from the platform.

The delisting is scheduled for August 12, 2022, at 16:00 HKT. At that time, trading for the SWRVUSDT perpetual contract will cease, all pending user orders will be automatically canceled, and all open positions will be settled. The settlement price will be determined by the arithmetic average of the OKX index one hour prior to delisting. In the event of abnormal market manipulation affecting the index price during this period, OKX reserves the right to adjust the final settlement price to a fair and reasonable level.

👉 Learn how to manage your positions before contract adjustments take effect.

Settlement and Fee Details

To ensure a smooth transition, no funding fees will be charged during the final funding rate cycle at 16:00 on the day of delisting. This final funding rate will not appear in user billing records. Additionally, there will be no funding fees or delivery fees applied during the settlement process — users can close or be settled on their positions without incurring extra costs.

It is important to note that market volatility may increase significantly as the delisting deadline approaches. Users are strongly advised to manage their exposure by reducing leverage or closing positions in advance. In the event of liquidations resulting in losses beyond collateral (i.e., "clawback" scenarios), OKX’s insurance fund will cover the deficit first. If the insurance fund is insufficient, auto-deleveraging (ADL) may be triggered, impacting highly profitable counterparties.

Post-Delisting Account Restrictions

After settlement at 16:00 HKT, users who held SWRVUSDT perpetual positions valued over $10,000 at the time of delisting will experience temporary restrictions on all asset transfers across their trading accounts. These restrictions will remain in place for 30 minutes following settlement and will then be automatically lifted.

Historical order records and transaction bills for the SWRVUSDT perpetual contract will remain accessible after delisting. Users wishing to retain a copy of their trading history are encouraged to download their data via the Order Center on the desktop platform before or after the delisting event.

Risk Parameter Adjustments Before Delisting

To ensure orderly trading and minimize price volatility ahead of delisting, OKX will implement temporary adjustments to the price limit mechanism for the SWRVUSDT perpetual contract.

Price Limit Rules Overview

The price limit system helps prevent extreme price deviations by setting upper and lower bounds based on the index price and recent market premiums. The standard formula is adjusted in two phases:

Temporary Adjustments Schedule

Starting 48 hours before delisting, these parameters will be tightened progressively:

These adjustments narrow the allowable trading range, reducing the risk of erratic price swings as the contract approaches termination. Please note that if unusual market behavior occurs before these scheduled changes, OKX may make real-time adjustments to maintain market integrity.

👉 Stay ahead of contract changes with real-time market alerts and analytics.

Why Contracts Get Delisted

Perpetual contracts are delisted when they no longer meet key performance metrics such as trading volume, open interest, and market depth. Low liquidity increases slippage, widens spreads, and heightens the risk of unfair liquidations — all of which degrade the user experience. By proactively removing underperforming contracts, OKX ensures that only robust, well-functioning markets remain active.

This decision reflects our dedication to maintaining a healthy trading ecosystem. Users are encouraged to monitor their portfolios and respond promptly to upcoming changes.

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👉 Access advanced tools to track contract status and manage risk effectively.

Frequently Asked Questions (FAQ)

What happens when a perpetual contract is delisted?

When a perpetual contract is delisted, trading is halted, all open orders are canceled, and outstanding positions are settled using a predetermined price — typically based on an index average. No further trading or funding fees apply after settlement.

Will I lose money if my position is automatically settled?

You are not charged extra fees during settlement. However, your position is closed at the final index-based price, which may result in a profit or loss depending on your entry point. It's best to manage your position manually before delisting to control exit timing.

How can I check my past SWRVUSDT trading records?

Historical orders and bills remain available after delisting. Log in to the OKX desktop site, go to the Order Center, and export your transaction history for personal records.

Why were the price limits tightened before delisting?

Tighter price limits reduce volatility and prevent sharp, manipulative price swings near the end of a contract’s lifecycle. This protects users from unfair liquidations and ensures a more orderly market.

Can I still trade SWRV after the perpetual contract is gone?

Yes. While the perpetual futures market for SWRVUSDT will close, spot trading pairs like SWRV/USDT may still be available. Check the trading interface for current market offerings.

What should I do if I have an open position?

Close your position before August 12, 16:00 HKT, or ensure your risk tolerance accounts for automatic settlement. Reducing leverage or setting stop-losses can help mitigate unexpected outcomes.

OKX remains committed to delivering secure, transparent, and high-performance trading services. We appreciate your understanding and cooperation as we continue improving our product lineup for a better trading experience.