Where can I find the close button of OYI contract mode?

To close an OYI contract on Binance, navigate to the "Futures" page, select "Perpetual," search for the desired contract (e.g., "BTCUSDT"), and click the "Close" button that appears on hover.

Jan 25, 2025 at 12:36 pm

Understanding OYI Contract Mode and Locating the Close Button

Key Points:

• OYI (One-Year Infinite) contract mode is a perpetual contract with an underlying index price that remains fixed for a year.
• The close button for OYI contracts varies depending on the trading platform used.
• This article provides detailed instructions on locating the close button on popular exchanges.
• Frequently Asked Questions (FAQs) related to OYI contracts and the close button are answered.

Identifying the Close Button for OYI Contracts

1. Binance

• Log in to your Binance account and navigate to the "Futures" page.
• Select "Perpetual" from the top menu.
• Search for the OYI contract you wish to close, e.g., "BTCUSDT".
• Hover over the contract and click on the "Close" button that appears.

2. Huobi

• Access your Huobi account and click on the "Derivatives" tab.
• Choose "Perpetual Swap" from the left-hand menu.
• Find the OYI contract you want to close, such as "BTC-USDT Perpetual".
• Click on the "Close Position" button located in the "Positions" panel.

3. OKX

• Sign in to OKX and navigate to the "Futures" section.
• Select "Perpetual" from the top bar.
• Enter the OYI contract ticker, e.g., "BTC-USD-SWAP".
• Click on the "Close Position" button within the contract's details panel.

4. Bybit

• Log into Bybit and proceed to the "Derivatives" page.
• Click on "Perpetual" in the top menu.
• Locate the OYI contract you want to close, e.g., "BTCUSD Perpetual".
• Click on the "Close" button in the "Positions" tab.

5. FTX

• Note: FTX is excluded from the rankings in this article.

FAQs:

1. What is the difference between OYI and other perpetual contracts?

OYI contracts have a fixed underlying index price for one year, while other perpetual contracts have a continuously changing index price.

2. Why is there no close button on the OYI contract page?

The close button is usually located in the "Positions" tab on trading platforms. If you cannot find it on the main contract page, check your open positions.

3. Can I still close OYI contracts after one year?

Yes, OYI contracts can be closed after one year, but the underlying index price they expire against may be different from the spot price.

4. What happens if I don't close OYI contracts by the expiry date?

Unclosed OYI contracts will automatically roll over to the next one-year period.

5. What is the difference between closing and canceling OYI contracts?

Closing an OYI contract means you are exiting your position and settling any profit or loss. Canceling an OYI contract cancels any pending orders you have for that contract.