Binance and KuCoin Delist PTBUSDT and MITOUSDT Perpetuals: What to Do Before 23 October

The timeline on each exchange

Binance's restriction on new orders began two days before settlement, so a trader who has not opened a position in these contracts since then cannot start one now. Closing orders are still allowed. On KuCoin, the restriction starts only on the morning of 23 October, which means you can still open a position until 06:50 UTC. Opening a new position this close to a delisting is a poor bet, because you are guaranteed to be closed out at settlement.

What Binance says will happen

Binance states that it will close all positions and run an automatic settlement for both contracts at 09:00 UTC on 23 October. The contracts are delisted after that settlement finishes. The notice also lists the factors Binance uses when it reviews a contract: trading volume and liquidity, network stability and attacks, new regulatory requirements, token supply and tokenomics, responsiveness to due diligence requests, and evidence of fraud or negligence. The notice does not say which of these factors applied to PTBUSDT or MITOUSDT.

The final hour matters most. Binance says the Futures Insurance Fund will not be used to support liquidations during the last hour before settlement. Any liquidation in that window is executed as a single Immediate or Cancel order, sent to the market in one attempt. If the remaining balance still does not meet maintenance margin after that order, the unfilled part of the position goes to auto-deleveraging (ADL). ADL closes profitable positions against the losing side, so it can hit a trader who was winning. Binance also says it may change leverage limits, position limits, maintenance margin, funding rates, index constituents and the mark-price method without further notice.

What KuCoin says will happen

KuCoin's notice, dated 21 October 2026, follows a similar sequence. Opening new positions in the two contracts is suspended from 06:50 UTC on 23 October, while closing positions is still allowed. At 07:00 UTC the contracts are delisted, all open orders are cancelled, and each position is settled on the average index price over the 30 minutes before delisting.

KuCoin also changed its mark-price method for the last half hour. From 06:30 UTC the mark price equals the average index price, recalculated every second over the window that leads up to the current moment. KuCoin says it adds a 180-second transition from 06:30 UTC. The effect is that the mark price moves more slowly into settlement, but it also means a fast move in the index can still be locked in at the average. KuCoin warns of significant price swings before delisting and recommends that users reduce leverage or close early.

What this means for you

Start by checking whether you hold either contract. On both exchanges, the position view in the futures account lists the symbol. If you do, the choice is simple: close it before the cut-off rather than wait for settlement. Binance's own notice warns of heightened volatility and reduced liquidity in the final hour, so exiting earlier, while the order book is still deep, is usually the safer path.

If you hold a position on both exchanges, treat each one separately. The settlement mechanics differ: Binance uses its own automatic settlement with an IOC liquidation in the final hour, while KuCoin settles on an average index over the final 30 minutes. A single hedge across the two venues can therefore leave you exposed to a gap on one side while the other side settles.

Check your margin mode as well. Isolated margin limits the loss to the margin you assigned to the position. Cross margin shares your whole balance, so a settlement loss can reach funds you meant to keep for other trades. For a small or thin contract like these, reducing size before the final hour is more important than the margin mode you choose.

How to act on this

If you plan to keep trading perpetual futures after the delisting, compare the fee schedule before you pick a new venue. The published regular-user perpetual rate on OKX is 0.02% maker and 0.05% taker, read on 10 October 2026. You can open an account through our OKX profile and use code NEXU888 at sign-up. The code does not change the fees, and you should check the current rate in your own account before a large trade.

Quick answers

When exactly do the contracts stop trading? Binance settles at 09:00 UTC on 23 October 2026, which is 17:00 SGT. KuCoin delists at 07:00 UTC, which is 15:00 SGT.

Will my position be closed automatically? Yes, if you still hold it at the cut-off. Binance closes all positions in automatic settlement, and KuCoin settles them on the average index price.

Can I still close a position? Yes. Both exchanges say closing orders are not restricted, although liquidity can thin out near the end.

Is ADL possible on Binance? Binance says it can happen if an IOC liquidation in the final hour does not restore enough margin. Keep extra margin, or close the position early.

Does delisting mean the token is gone? The notices concern the perpetual contracts only. They do not say what happens to the underlying projects or to any spot market.

What we could not verify

• The specific reason each contract was selected. The notices list general factors and do not single out PTBUSDT or MITOUSDT.
• The open interest, funding history and price level of either contract before the delisting. We did not pull this data in this review.
• The projects behind the PTB and MITO tokens and whether their spot markets are affected.

Sources

• Binance Futures notice, "Binance Futures Will Delist PTBUSDT and MITOUSDT USDⓈ-M Perpetual Contracts (2026-10-23)", read through the Binance announcement API on 22 October 2026.
• KuCoin Futures notice, "KuCoin Futures Will Delist the PTBUSDT and MITOUSDT Perpetual Contracts and Related Services (2026-10-23)", dated 21 October 2026 and read on 22 October 2026.
• OKX regular-user perpetual rate, okx.com/fees, re-read 10 October 2026.
• NexuAlpha partner registry, nexualpha.com/intel/partners.json (partner code and fee record).

Related reading: OKX exchange profile and how perpetual futures work.