Dear OKX Traders,
We’d like to inform you about an important update regarding the daily settlement mechanism for BTC-USDT and BTC-USD expiry futures contracts in cross-margin mode.
Key Update: Postponed Launch Date
- Original Start Date: March 29, 2025 (08:00 am UTC)
- New Start Date: April 05, 2025 (08:00 am UTC)
How Daily Settlement Works
- Timing: Settlements occur daily at 08:00 am UTC.
Process:
- The position’s settlement PnL is credited to your account balance.
- The entry price updates to the last settlement price.
- Floating PnL recalculates based on the updated entry price.
No Fees or Position Adjustments:
- Zero fees for settlements.
- Position size remains unchanged.
Settlement Price Calculation:
- Averages the mark prices from the last hour before settlement.
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Important Notes
- Applicability: Only for cross-margin positions.
- Risk Notice: OKX may temporarily suspend daily settlements during high market volatility and reopen after risk assessment.
Additional Resources
For deeper insights:
We appreciate your trust and aim to enhance your trading experience.
OKX Team
March 26, 2025
FAQs
Q: Will my existing positions be affected by the delay?
A: No, your positions remain unchanged until the new launch date (April 05, 2025).
Q: Are there fees for daily settlements?
A: No—settlements are fee-free and don’t alter your position size.
Q: How is the settlement price determined?
A: It’s the average of mark prices from the hour preceding settlement.
Q: Does this apply to isolated-margin positions?
A: No, only cross-margin positions are affected.
Q: Can OKX pause daily settlements unexpectedly?
A: Yes, during extreme market risks, but operations resume after risk evaluation.
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