When will Upbit deliver the current week's contracts

When Will Upbit Deliver the Current Week's Contracts?

Upbit, one of the largest cryptocurrency exchanges in the world, offers a variety of futures contracts for trading. These contracts allow traders to speculate on the future price of cryptocurrencies without having to actually own the underlying assets.

Upbit typically settles its futures contracts on a weekly basis. The current week's contracts will expire on Friday at 08:00 UTC. At this time, Upbit will deliver the underlying cryptocurrency to the holders of long positions and receive the underlying cryptocurrency from the holders of short positions.

Steps to Deliver Current Week's Contracts on Upbit:

1. Verification: To deliver current week's contracts on Upbit, users must first verify their accounts. This can be done by providing a valid identity document and proof of address. The identity document must be a government-issued ID, such as a passport or driver's license, and the proof of address must be a recent utility bill or bank statement.
2. Funding: Once the account is verified, users need to fund their account with the cryptocurrency that they want to trade. This can be done by depositing cryptocurrency from another wallet or by purchasing cryptocurrency directly from Upbit.
3. Place an Order: To place an order, users need to select the contract that they want to trade, the order type, and the quantity. The order type can be a market order, a limit order, or a stop order. A market order will be executed immediately at the current market price, a limit order will be executed only when the price reaches a specified limit, and a stop order will be executed only when the price reaches a specified stop price.
4. Wait for Execution: Once the order is placed, it will be executed when the market price reaches the specified price. If the order is a market order, it will be executed immediately. If the order is a limit order or a stop order, it will be executed only when the market price reaches the specified price.
5. Delivery: Once the contract expires, the underlying cryptocurrency will be delivered to the holder of the long position and the holder of the short position. The exact time of delivery will vary depending on the cryptocurrency that is being traded.