As part of its ongoing commitment to improving market liquidity, index reliability, and risk management across leveraged tokens, delivery, and perpetual futures markets, OKX has announced a strategic adjustment to selected index components. This update is scheduled to take effect on May 9, 2024, from 6:00 PM to 8:00 PM (UTC+8). Following the adjustment, index values will be recalculated using the updated prices and revised weightings of constituent assets.
This move reflects OKX’s proactive approach to maintaining fair pricing mechanisms and minimizing volatility risks in derivative products tied to these indices.
Purpose of the Index Component Adjustment
The primary goal of this reconfiguration is to enhance index stability, reduce potential manipulation risks, and ensure more accurate price discovery across trading products such as perpetual swaps, delivery contracts, and leveraged tokens.
By rebalancing exchange sources and adjusting weight allocations, OKX aims to:
- Improve data representativeness by emphasizing high-liquidity trading pairs.
- Strengthen resilience against sudden price deviations on individual platforms.
- Align with evolving market structures and trading volume distributions.
These refinements support a healthier trading environment for all users, especially those engaged in margin-based or leveraged positions that depend on accurate mark pricing.
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Detailed Index Component Changes
Below is a breakdown of the updated composition for key USD-denominated cryptocurrency indices.
BTC/USD Index
Previously reliant on five contributing exchanges—Kraken, Bitstamp, Bitfinex, Crypto.com, and Coinbase—the BTC/USD index now streamlines its inputs while increasing concentration among top-tier platforms.
| Exchange | Trading Pair | Old Weight | New Weight |
|---|---|---|---|
| Kraken | BTC/USD | 23.07% | 27.27% |
| Bitstamp | BTC/USD | 15.37% | 18.18% |
| Crypto.com | BTC/USD | 23.07% | 27.27% |
| Coinbase | BTC/USD | 23.07% | 27.27% |
| Bitfinex | BTC/USD | 15.37% | Removed |
Notably, Bitfinex has been removed from the BTC/USD index due to changes in relative trading volume and consistency metrics. Its previous weighting has been redistributed among Kraken, Crypto.com, and Coinbase—platforms demonstrating stronger depth and reliability.
ETH/USD Index
The ETH/USD index now features a refined set of contributors with adjusted weights to reflect current market dynamics.
| Exchange | Trading Pair | Old Weight | New Weight |
|---|---|---|---|
| OKX | ETH/BTC | 22.22% | 25.00% |
| Bitstamp | ETH/USD | 11.11% | 12.50% |
| Coinbase | ETH/USD | 16.66% | 18.75% |
| Binance | ETH/USDT | 22.22% | 25.00% |
| Kraken | ETH/USD | 16.66% | 18.75% |
| Bitfinex | ETH/USD | 11.11% | Removed |
Bitfinex has been excluded from this index as well, with its share redistributed proportionally to enhance weighting symmetry among higher-volume venues.
LTC/USD Index
Similar adjustments apply to the LTC/USD index, reinforcing reliance on major exchanges with consistent order book depth.
| Exchange | Trading Pair | Old Weight | New Weight |
|---|---|---|---|
| OKX | LTC/BTC | 22.22% | 25.00% |
| Bitstamp | LTC/USD | 11.11% | 12.50% |
| Kraken | LTC/USD | 16.66% | 18.75% |
| Coinbase | LTC/USD | 16.66% | 18.75% |
| Binance | LTC/USDT | 22.22% | 25.00% |
| Bitfinex | LTC/USD | 11.11% | Removed |
Again, Bitfinex is no longer included, aligning with the broader strategy of prioritizing exchanges with superior data integrity and trading volume.
XRP/USD Index
The XRP/USD index maintains its core contributors but increases emphasis on leading platforms:
| Exchange | Trading Pair | Old Weight | New Weight |
|---|---|---|---|
| Bitstamp | XRP/USD | 13.33% | 15.38% |
| OKX | XRP/BTC | 26.66% | 30.77% |
| Binance | XRP/BTC | 26.66% | 30.77% |
| Kraken | XRP/USD | 20.00% | 23.08% |
| Bitfinex | XRP/USD | 13.33% | Removed |
As with other indices, Bitfinex has been phased out, and remaining participants have seen proportional increases.
How Index Prices Are Calculated
Index values are derived through a weighted average formula, where each active component contributes based on its price and assigned weight:
Index Price = Σ (Price_of_Component × Weight_of_Component)Only verified, liquid trading pairs from trusted exchanges are included. Outliers are filtered using statistical methods to prevent distortions caused by temporary imbalances or flash crashes.
This calculation runs continuously and feeds into critical systems such as mark price determination, which helps prevent unfair liquidations in perpetual and delivery contracts.
Risk Advisory: Impact on Leveraged Positions
⚠️ Users should be aware: Due to potential short-term fluctuations during the transition window (May 9, 6:00–8:00 PM UTC+8), there may be noticeable shifts in:
- Index prices
- Mark prices for perpetual and delivery contracts
- Maintenance margin requirements
In particular, some tiered margin levels may be adjusted post-update, leading to higher maintenance margin rates for certain positions.
To avoid unexpected liquidation risks:
- Consider reducing leverage ahead of the change.
- Monitor your position health closely during the maintenance window.
- Add additional margin if holding large or highly leveraged positions.
- Use stop-loss or take-profit orders to manage exposure automatically.
👉 Learn how to adjust your strategy before index rebalancing takes effect
Frequently Asked Questions (FAQ)
Q: Why is OKX removing Bitfinex from multiple indices?
A: The decision was based on comprehensive analysis of trading volume, price consistency, and market depth over recent months. Exchanges with lower relative contribution or higher deviation rates were reassessed for inclusion.
Q: Will this affect spot trading?
A: No. These changes only impact derivative products linked to indices—such as perpetual swaps, delivery futures, and leveraged tokens—and do not alter spot market mechanics.
Q: Can I still trade leveraged tokens during the update?
A: Yes, trading remains available throughout the adjustment period. However, temporary volatility in net asset value (NAV) may occur due to underlying price recalibrations.
Q: How often are index components reviewed?
A: Index constituents are evaluated regularly—typically every few months—based on predefined criteria including liquidity, transparency, and global accessibility.
Q: Where can I view real-time index data?
A: Live index feeds are accessible via the OKX trading interface under the relevant contract or leveraged token page.
Q: What happens if an exchange goes offline during calculation?
A: OKX employs failover mechanisms that exclude temporarily unavailable sources and redistribute weights dynamically to maintain continuity.
Final Thoughts
This component update underscores OKX's dedication to building robust, transparent financial infrastructure in the digital asset space. By refining index construction methodologies, the platform enhances fairness, reduces systemic risk, and supports sustainable innovation in crypto derivatives.
Traders benefit from improved price accuracy and reduced susceptibility to localized anomalies—critical advantages in fast-moving markets.
Stay informed, manage risk proactively, and make use of advanced tools designed to keep your strategies resilient amid evolving market conditions.
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