Futures settlement rules

Published on Feb 28, 2024Updated on Apr 4, 20242 min read9

What's the settlement?

OKX adopts the Daily Settlement Procedure to settle futures trades at 08:00 (UTC) every day. All profit and loss will be calculated and transferred to users’ futures account balance, so that they can freely move their funds in and out of their account before Friday. The system takes the latest mark price at the time to settle. The system calculates the user’s UPL according to the daily settlement price, holdings settlement price and the number of positions held; UPL and RPL will then be transferred to user’s futures account after settlement. If the user opens a new position after settlement, the settlement price will be changed. After settlement, the RPL, UPL and the cost of holding positions of a user will be changed. However, account equity remains unchanged.

What are the delivery rules?

At the time of contract delivery, the system will execute to close the positions on all opened weekly futures. The price will be the arithmetic mean of the BTC (LTC, or other assets)USDT index of the preceding one hour before delivery. The profit and loss obtained after closing the position through delivery will be added into the realized profit and loss. Delivery is completed when all RPL is added into the account balance. In case of index fluctuation caused by suspected market manipulation or abnormality resulting in abnormal clawback rate near the settlement and delivery time, we might postpone the settlement and delivery for the best interest of our users. Further announcements will be made as appropriate in due course. Daily settlement UPL and RPL can be viewed under your Futures account orders after daily settlement.