What time will CoinEx’s contract for the week be delivered?

What time will CoinEx’s contract for the week be delivered?Introduction

CoinEx is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, and futures trading. Futures contracts are agreements to buy or sell an asset at a set price on a future date. CoinEx offers weekly futures contracts, which expire every Friday at 8:00 AM UTC.

Delivery Time

The delivery time for CoinEx's weekly futures contracts is 8:00 AM UTC on Friday. At this time, the contracts will expire and the underlying asset will be delivered to the buyer. If the buyer does not have enough margin to cover the delivery, they will be liquidated and the asset will be sold on the spot market.

Steps to Deliver a CoinEx Weekly Futures Contract

To deliver a CoinEx weekly futures contract, you must follow these steps:

1. Ensure that you have enough margin to cover the delivery. The margin requirement for CoinEx weekly futures contracts is 10%. This means that if you are buying a contract worth $10,000, you must have at least $1,000 in your margin account.
2. Place a sell order for the contract. Once you have enough margin, you can place a sell order for the contract. The sell order should be for the same amount as the contract that you purchased.
3. Wait for the contract to expire. The contract will expire on Friday at 8:00 AM UTC. At this time, the underlying asset will be delivered to you.

Example

Let's say that you buy a CoinEx weekly futures contract for Bitcoin worth $10,000. The margin requirement for this contract is 10%, so you must have at least $1,000 in your margin account.

On Friday at 8:00 AM UTC, the contract will expire and you will receive 1 Bitcoin. If you do not have enough margin to cover the delivery, you will be liquidated and the Bitcoin will be sold on the spot market.

Conclusion

Delivering a CoinEx weekly futures contract is a simple process. However, it is important to ensure that you have enough margin to cover the delivery. If you do not have enough margin, you will be liquidated and the asset will be sold on the spot market.