OKX daily settlement mechanism for BTC expiry futures in cross-margin mode

Dear OKX traders,

To provide a better trading experience and optimize fund utilization, OKX will launch a daily settlement mechanism for BTC-USDT and BTC-USD expiry futures contracts in cross-margin mode, starting at 08:00 am UTC on March 29, 2025.

How it works: Settlement will happen daily at 08:00 am UTC. Upon settlement, the position’s settlement PnL will be credited to your account balance, and the position’s entry price will be updated to the last settlement price. The position’s floating PnL will be calculated based on the updated entry price. You won’t be charged any fees for settlement and your position size won’t be affected. The settlement price is calculated by averaging the mark prices from the last hour before settlement. Note that these updates to settlement are only applicable to cross-margin positions.

For more details on the settlement mechanism, you can refer to the following document:
Product Document: Introduction to the settlement mechanism
API Changes: Expiry futures daily settlement

Risk notice: OKX reserves the right to temporarily close the daily settlement mechanism without prior notice due to market risks and re-open it after assessing the risk.

Thank you for your continued support, and we hope these updates will improve your overall trading experience.

OKX team
Mar 25, 2025