Delisting is when an exchange removes a token or a trading pair. At that point the market stops behaving “normally”: liquidity thins out, spreads widen, execution deteriorates, and price can jump on small size. The most common beginner mistake is trying to “trade the event” by opening fresh positions. On delisting day, the goal is simple: reduce risk and clean up exposure.

Below is a practical workflow for two different situations: spot delisting and perpetual/futures contract delisting.

Delisting: Is the Token Removed or Only a Pair Is Removed?

On spot, first clarify the scope:

• Sometimes an exchange removes a specific spot pair (e.g., X/BTC) while the token can still trade via other pairs. Binance explicitly notes that removing a spot trading pair does not necessarily remove the token from spot—assets may remain tradable through alternative pairs.
• Sometimes the token and related pairs are removed, and deposits/withdrawals may be suspended on a schedule.

Your actions depend on that difference: reroute to another pair in the first case; follow deadlines in the second.

What Typically Happens on Spot

Spot mechanics usually look like this:

• At the scheduled time, trading for the affected pair stops and orders are removed automatically.
• If you rely on trading bots or automated services for that pair, the exchange may terminate the service, so you need to stop or reconfigure automation early.
• Bybit’s official spot delisting mechanism also states that delisting may involve suspending trading pairs, deposits, and withdrawals, with a buffer window before withdrawal suspension; if users don’t withdraw in time, conversion to USDT may occur under the platform’s rules (subject to liquidity and process timing).

Practical takeaway: spot delisting is a deadlines-and-execution-quality problem. The closer you get to trading suspension, the worse the exit conditions tend to be.

What Happens to Perpetual/Futures Positions During Delisting

On derivatives, “holding until the end” may not be possible by design.

• Binance Futures announces that at a specific time it will close all positions and conduct automatic settlement, then the perpetual contract is delisted.
• Bybit states that if a user holds a position until the delisting time, the system automatically closes positions, using an index-based reference (including an average index window before delisting as a settlement reference).

That’s why a conservative rule holds: don’t trade perps into a delisting—neither long nor short. The objective is to exit early while liquidity and control still exist.

Why Delisting Is Not a “Long or Short” Event

Before trading stops, the market often becomes toxic:

• thinner order books and higher slippage;
• market making changes or disappears;
• price moves on small volume, breaking risk/reward math.

Even if a direction looks obvious, delisting mechanics (auto settlement, order removal, service termination) can override your plan.

Action Workflow After a Delisting Notice

1) First 30 minutes

• Read the official announcement and capture: what is being removed (token vs pairs), trading stop time, deposit/withdrawal deadlines (if specified).
• Check for bots/automation running on affected instruments—stop or reroute them early.
• On derivatives, do not add exposure. If you already hold a position, plan an early exit—not the last minute.

2) 24 hours before trading stops

• On spot: decide whether you sell/convert, reroute via another pair, or withdraw to a wallet.
• On derivatives: close positions before the auto-settlement window to avoid forced closure and a settlement price you don’t control.

3) Delisting day

• Don’t open “event trades”.
• Keep it operational: close leftovers, cancel residual orders, disable automation, confirm assets are moved or converted as intended.

Beginner Alert: What Can Happen to Your Perp Position

If a derivatives contract is delisted, the exchange may:

• close positions automatically and settle at the scheduled time (Binance Futures).
• close positions via the system using index-based settlement rules, including a reference window prior to delisting (Bybit).

This is exactly where the “unpleasant but correct” decision often wins: exit earlier—even at a loss—to keep execution and risk under your control.

Short Disclaimer

This content is for informational purposes only and is not financial advice. Always follow your exchange’s official delisting notice and rules.

How we handle this in automation

When Bybit publishes a delisting notice for a contract, we treat it as an elevated operational-risk event. That instrument is blacklisted immediately for ST and ST12 trading bots to prevent any new entries or repeated attempts to open exposure. At the same time, a Telegram alert is sent: the token has a delisting announcement and bot trading is blocked until the risk status is cleared. The logic is straightforward: delisting is not a setup to trade—it’s a situation to de-risk early and keep execution under control.