We recently gathered and evaluated substantial user feedback, and note that many users want to trade USDT contracts. In keeping with our Users First philosophy, Phemex has listed over 130 USDT contracts so that every available USD-margined contract now has a USDT-margined alternative. We encourage all users to transition to trading USDT-margined contracts, which feature several advantages.
Benefits of trading USDT-margined contracts:
- Best-in-class liquidity compared to USD contracts
- Hedge mode is supported, allowing for better risk management
- Improved price precision
Here are the plans for USD-margined contract delisting. On January 11, 2023 Phemex will be delisting 40 USD-margined linear contract trading pairs. We encourage users to stop trading and close open positions as soon as you can, the forty pairs to be delisted are:
Here is the delisting schedule:
- 9:30 UTC on Jan. 11, 2023 – Phemex will only support ReduceOnly orders for the 40 contract pairs mentioned above
- 10:00 UTC on Jan. 11, 2023 – Above 40 USD-margined perpetual contracts get delisted from Phemex. All orders and trading for these pairs will be closed.
- All positions still open for these trading pairs after 10:00 UTC will be closed based on the asset’s average mark price in the 30-minute time period from 9:30 UTC to 10:00 UTC on Jan. 11, 2023
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
The Phemex Team