OKX to execute rebase on OPENAIUSDT and ANTHROPICUSDT pre-market perpetual futures
To improve the user trading experience, OKX will execute a rebase on the OPENAIUSDT and ANTHROPICUSDT pre-market perpetual futures from 07:00 to 08:00 (UTC) on June 30, 2026. The current estimated total share count is 1 billion; after the rebase, the new estimated total share count will become 10 billion. This adjustment proportionally lowers the mark price and correspondingly scales up your position and order quantities.
What is the rebase
The rebase is a one-time, proportional adjustment of contract parameters. Its core design principle is value neutrality — your position value and account equity remain consistent before and after the rebase.
Important: this rebase is unrelated to the actual share count of OpenAI or Anthropic. Once the relevant companies officially file their S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) and disclose their actual total share count. OKX will execute a separate, supply-based rebase (so that 1 contract corresponds to 1 share), which will be announced separately at that time.
For the full mechanism, execution flow, and examples, please refer to: Pre-IPO Perpetual Futures product documentation.
Schedule
Rebase start: OPENAIUSDT at 07:00 (UTC), ANTHROPICUSDT at 08:00 (UTC), on June 30, 2026
Rebase execution: approximately 5 minutes
Post-only phase: begins once the rebase is complete; OKX will determine its duration based on market liquidity conditions and will manually resume normal trading after confirmation.
Adjustment ratio
This rebase is platform-initiated. The adjustment ratio for each contract is as follows:
Contract | Adjustment ratio | Adjustment start time |
OPENAIUSDT | 10 | 07:00 (UTC), June 30, 2026 |
ANTHROPICUSDT | 10 | 08:00 (UTC), June 30, 2026 |
Rebase impact: changes to positions and open orders
The rebase applies the adjustment ratio proportionally to your positions, open orders, and prices, ensuring your position value and account equity remain consistent before and after. The specific rules are as follows:
Item | Adjustment rule |
Position quantity | × ratio |
Mark price | ÷ ratio |
Open limit orders | quantity × ratio, price ÷ ratio |
TP/SL (including trailing TP/SL, etc.) | cancelled, not retained |
Unrealized PnL | settled and converted to realized PnL through the rebase, and credited to your account balance |
Position value, account equity | unchanged (minor differences due to rounding only) |
Example: with ratio = 10. Suppose before the rebase you hold 100 long OPENAIUSDT contracts, the mark price at the time of the rebase is 1,369.62 USDT, and you have one open limit buy order of 10 contracts at 1,365.00 USDT. After the rebase:
Item | Before rebase | After rebase (ratio = 10) |
Position quantity | 100 contracts | 100 × 10 = 1,000 contracts |
Mark price | 1,369.62 USDT | 1,369.62 ÷ 10 = 136.962, rounded to the tick size 0.01 → 136.96 USDT |
Position value | 136,962 USDT | ≈ 136,960 USDT (≈2 USDT minor difference due to rounding) |
Open limit buy order | 10 contracts at 1,365.00 USDT | Order quantity: 10 × 10 = 100 contracts; Order price: 1,365.00 ÷ 10 = 136.50 USDT |
Service impact
During the approximately 5-minute rebase execution: order placement, modification, and cancellation are all suspended.
During the Post-only phase (duration determined by OKX based on market liquidity): only Post-only orders can be placed or modified; other order types (market orders, IOC, FOK, plain limit orders, TP/SL, and trigger orders) cannot be placed or modified, but can be cancelled.
Your TP/SL orders on this contract (including trailing TP/SL, etc.) will be cancelled once trading is halted for the rebase and will not be retained. After trading resumes, please re-set your TP/SL based on the adjusted mark price and position quantity.
Running strategy orders (Bots) will be stopped; trigger orders and chase orders will be cancelled. Please recreate them after the rebase as needed.
Risk warning
The rebase involves proportional adjustments to position quantity and to the prices and quantities of open orders. Please manage your positions prudently before the rebase, and promptly verify your positions and open orders once the rebase is complete.Risk warning: Digital asset holdings involve a high degree of risk and can fluctuate greatly. You should only invest in products you are familiar with and where you understand the associated risks. OKX is not responsible for any losses you may incur from trading digital assets. Investors may lose the entire value of their investment.
OKX Team
June 25, 2026