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How is the OKEx perpetual contract settled?
OKEx offers eight-hourly settlement intervals for perpetual contracts, ensuring efficient position adjustments and profit/loss determination at predetermined times.
Oct 24, 2024 at 04:00 am
OKEx Perpetual Contract Settlement
OKEx perpetual contracts are settled every 8 hours. The settlement time is as follows:
- UTC 08:00
- UTC 16:00
- UTC 00:00
Settlement Process:
- Calculation of Settlement Price: The settlement price is calculated as the average price of the perpetual contract during the last 30 seconds before the settlement time.
- Mark Price Adjustment: If the settlement price differs from the mark price by more than 0.01%, a mark price adjustment is applied to bring the settlement price closer to the mark price.
- Position Closing: All perpetual contract positions are closed at the settlement price.
- Profit/Loss Settlement: Traders receive or pay profit/loss based on the difference between their position opening price and the settlement price.
Example:
- Contract: BTCUSDT perpetual contract
- Settlement Time: UTC 08:00
- Settlement Price: $40,000
- Mark Price: $39,998
- Trader A has a long position of 10 BTC with an opening price of $40,100.
- Trader B has a short position of 10 BTC with an opening price of $39,900.
Settlement Calculation:
- Settlement Price: ($40,000 + $40,000) / 2 = $40,000
- Mark Price Adjustment: $40,000 - $39,998 = $0.002 > 0.01%, apply adjustment.
- Adjusted Settlement Price: $40,000 + (($40,000 - $39,998) * 0.5) = $40,000.001
Trader A:
- Profit/Loss: (40,000.001 - 40,100) * 10 = -100 USDT
Trader B:
- Profit/Loss: (40,000.001 - 39,900) * 10 = 100 USDT
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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