When trading on cryptocurrency derivatives platforms, one of the most critical questions traders ask is: Can you close your delivery contract position at any time? The short answer is yes—on OKX, users can close their delivery contract positions before the contract expires. However, understanding how delivery contracts work, when automatic settlement occurs, and how real-time profit calculation enhances flexibility is essential for effective risk management and capital efficiency.
This article dives into the mechanics of OKX delivery contracts, explains the difference between manual closing and automatic delivery, and highlights how OKX’s real-time settlement system gives traders greater control over their funds.
Understanding OKX Delivery Contracts
Delivery contracts are a type of futures contract where positions are settled in the underlying cryptocurrency at expiration. Unlike perpetual contracts, which have no expiry date, delivery contracts have a fixed maturity—such as weekly or quarterly—and are automatically closed at a predetermined time.
On OKX, delivery contracts are available for major cryptocurrencies like BTC/USDT, ETH/USDT, LTC/USDT, and EOS/USDT. These contracts allow traders to speculate on price movements using leverage while knowing exactly when their position will settle.
👉 Discover how real-time settlement empowers your trading strategy
Key Features of Delivery Contracts:
- Fixed expiration dates (weekly, bi-weekly, or quarterly)
- Settlement occurs at a pre-defined time using the delivery index price
- All open positions are automatically closed at delivery
- Profits and losses are settled in the base or quote currency
Can You Close a Delivery Contract Early?
Yes—you are not required to hold a delivery contract until expiration. Traders can manually close their positions at any time before the delivery timestamp, locking in profits or cutting losses based on current market conditions.
For example:
- If you open a long position on a BTC/USDT weekly delivery contract, you can exit it minutes after entry or hours before delivery.
- The platform allows full control over when to realize gains or limit downside exposure.
This flexibility is crucial in volatile markets where rapid price swings can occur within minutes.
However, if you do not manually close your position by the delivery time, OKX will automatically settle all outstanding contracts using the final delivery index price.
How Automatic Delivery Works
At the moment of delivery:
- All open positions are marked to market using the delivery index price.
- Unrealized P&L becomes realized P&L.
- Realized profits or losses are settled into your account balance.
- The contract ceases to exist; a new cycle begins with newly listed contracts.
This process ensures fairness and transparency, preventing manipulation during settlement.
Note: After delivery, any remaining unrealized gains or losses are converted and credited (or debited) to your main account. This means you don’t need to take physical delivery—the settlement is cash-adjusted in digital assets.
Real-Time Settlement: A Game-Changer for Traders
In January 2021, OKX launched real-time settlement for all USDT-margined perpetual and delivery contracts. This upgrade significantly improved user experience by allowing immediate access to realized profits.
Before this feature:
- Users had to wait for daily or multiple scheduled settlement times.
- Profits remained locked until the next settlement window.
- Capital efficiency was limited—especially during fast-moving markets.
Now:
- Every time you close a position, profits are instantly credited to your account.
- You can withdraw earnings or reinvest immediately without waiting.
- Risk exposure is minimized through faster fund availability.
This innovation places OKX among the few exchanges capable of supporting real-time settlement across all USDT-denominated contracts—setting it apart from smaller platforms that lack the infrastructure.
👉 See how instant profit settlement boosts trading agility
How to Trade OKX Delivery Contracts: Step-by-Step
1. Choose Your Contract Type
OKX offers three main types:
- Weekly: Expires on the nearest Friday
- Next-week: Expires on the second Friday from now
- Quarterly: Expires on the last Friday of March, June, September, or December (excluding overlapping dates)
Select based on your market outlook and holding period.
2. Enter Trade Parameters
Decide on:
- Direction (long or short)
- Leverage (adjustable within limits)
- Order type (limit, market, etc.)
- Quantity
Ensure your available margin meets the required threshold based on leverage used.
3. Select Margin Mode
You can choose between:
- Cross-margin (Full): All positions share the same margin pool; higher capital efficiency but increased risk of total liquidation.
- Isolated margin: Each position has dedicated margin; better risk control.
You can switch modes only when no active positions or pending orders exist.
4. Monitor and Adjust Positions
Once opened:
- Track unrealized P&L in real time
- Add or reduce position size
- Set take-profit and stop-loss orders
- Close partially or fully at any moment
5. Understand Liquidation Rules
Liquidation occurs when margin falls below maintenance requirements:
- Cross-margin mode: Liquidated when equity drops below 10% (for 10x) or 5% (for 20x)
- Isolated margin mode: Each position has independent margin; liquidated when its individual margin ratio hits the threshold
Avoid over-leveraging to prevent forced exits.
Frequently Asked Questions (FAQ)
Q: Can I close my OKX delivery contract before expiration?
A: Yes. You can manually close your position at any time before the delivery timestamp to lock in profits or limit losses.
Q: What happens if I don’t close my contract before delivery?
A: OKX will automatically settle all open positions using the final delivery index price. Your P&L will be realized and added to your account balance.
Q: Are profits from delivery contracts available immediately?
A: Thanks to real-time settlement, realized profits are credited instantly and can be withdrawn or reused right away.
Q: Does OKX support both USDT and coin-margined delivery contracts?
A: Yes. OKX supports both USDT-margined and coin-margined (e.g., BTC-margined) delivery contracts across various crypto pairs.
Q: How often does OKX settle delivery contracts?
A: Settlement occurs once per contract cycle—at expiration. However, traders can realize profits anytime via early closure due to real-time settlement capabilities.
Q: Is there a fee for closing a delivery contract early?
A: Standard taker/maker fees apply when closing a position, just like opening one. There are no additional penalties for early closure.
Final Thoughts: Trade Smart, Close Freely
OKX delivery contracts offer traders a powerful tool for leveraging market movements with clear expiration timelines. While automatic settlement occurs at a fixed time, the ability to close positions anytime gives users full control over their strategy and risk exposure.
Combined with real-time profit realization, advanced margin options, and reliable settlement mechanisms, OKX provides a robust environment for both novice and experienced derivatives traders.
Whether you're hedging spot holdings or speculating on short-term volatility, understanding when and how you can exit is key to success.