Binance Futures is planning to close all open positions on several perpetual contracts on December 5, 2025. These affected contracts include USDⓈ-M SXPUSDT and MILKUSDT (scheduled for settlement at 09:00 UTC), as well as USDⓈ-M OBOLUSDT and TOKENUSDT (settlement at 09:30 UTC). After the delisting on December 5, users will be unable to open new positions for these contracts. Before the settlement time, users are advised to close any open positions to avoid automatic settlement. During this process, the Futures Insurance Fund will not support liquidation. All liquidated positions will be executed as immediate or cancel (IOCO) orders, where a single attempt is made to unload them into the market. If there is sufficient remaining assets in user’s accounts, then the process will cease. However, if the IOCO fails to meet margin requirements, the Auto-Deleveraging (ADL) process will resolve any unfilled portions. Users should closely monitor their positions during this period as volatility and liquidity may be affected by these upcoming changes.