When it comes to cryptocurrency derivatives trading, one of the most frequently asked questions is whether delivery contracts on platforms like OKX can be closed out at any time. The short answer is: yes — you can manually close your position before the delivery date, but if you hold the contract until expiration, it will be automatically settled by the system.
This article dives into how OKX delivery contracts work, the mechanics of closing positions, and what happens during settlement — all while helping you understand risk management, leverage, and optimal trading strategies.
Understanding OKX Delivery Contracts
A delivery contract is a type of futures contract where physical settlement occurs upon expiration. In simple terms, it’s “hand over the asset, receive the cash.” When a delivery contract reaches its expiry date, all open positions are settled at the delivery price, which is typically based on a time-weighted average index price.
At that point:
- All unrealized profits and losses become realized
- Realized P&L is adjusted for fees and funding (if applicable)
- The final balance is credited to your account equity
However, most traders don’t wait until delivery. Instead, they close their positions manually before expiration to lock in gains or cut losses.
👉 Discover how to manage your delivery contract positions with precision and confidence.
How to Close a Delivery Contract on OKX
You are not required to hold a delivery contract until expiry. In fact, OKX allows users to close their positions at any time during active trading hours, as long as there is sufficient market liquidity.
Here’s how it works:
- Enter a position: Go long (buy) or short (sell) based on your market outlook.
- Monitor price movements: Track the mark price and your unrealized P&L.
- Exit manually: Place an opposite trade (e.g., sell if you’re long) to close the position.
- Realize profit or loss: Once closed, the P&L is settled immediately into your account balance.
This flexibility empowers traders to respond quickly to market changes without being locked into a future obligation.
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These keywords reflect both search intent and core user concerns — from operational mechanics to risk awareness.
Real-Time Settlement: A Game-Changer for Traders
In January 2021, OKX launched real-time settlement for all USDT-margined and coin-margined delivery contracts, including BTC/USDT, ETH/USDT, LTC/USDT, and EOS/USDT pairs.
What does this mean for traders?
- Instant profit realization: Profits are credited to your account immediately after closing a trade.
- Withdrawal flexibility: You can withdraw earnings anytime — no need to wait for daily batch settlements.
- Improved capital efficiency: No more locked-up profits; funds are available for reinvestment or withdrawal.
Previously, many exchanges only offered one or three settlement windows per day, limiting user control over their capital. With real-time processing, OKX enhances liquidity access and supports high-frequency trading strategies.
Compared to competitors, OKX stands out as one of the few platforms offering full real-time settlement across all major USDT pairs. While some other exchanges (like Huobi) offer partial real-time features, they often restrict them to select assets.
Types of Delivery Contracts Available on OKX
OKX offers three main types of delivery contracts:
1. Weekly Contracts (This Week)
Expires on the nearest Friday
2. Next-Week Contracts
Expires on the second upcoming Friday
3. Quarterly Contracts
Expires on the last Friday of March, June, September, or December — whichever is closest and doesn’t overlap with weekly or bi-weekly expiries.
Each contract type allows traders to speculate on price movements over different time horizons — ideal for aligning with market events like ETF approvals, macroeconomic data releases, or protocol upgrades.
Managing Risk: Margin Modes and Liquidation
To trade delivery contracts safely, understanding margin mechanics is crucial.
Two Margin Modes:
✅ Full (Cross) Margin
- All positions share the same margin pool
- Account equity must remain above 100% of required margin
Liquidation occurs when equity falls below:
- 10% of margin (for 10x leverage)
- 20% of margin (for 20x leverage)
✅ Isolated Margin
- Each position has its own dedicated margin
- Independent risk calculation per contract
- Easier to manage exposure on individual trades
You can switch between modes only when you have no open positions or pending orders.
👉 Learn how to optimize your margin strategy for better risk control.
Frequently Asked Questions (FAQ)
Q1: Can I close my OKX delivery contract before expiry?
Yes. You can manually close your position at any time before the delivery date. This is the standard way most traders exit trades to secure profits or limit losses.
Q2: What happens if I don’t close my delivery contract?
If you hold the position until expiry, OKX will automatically settle it using the final delivery index price. All unrealized P&L becomes realized and added to your account balance.
Q3: Are profits from delivery contracts available immediately?
Thanks to real-time settlement, yes — once you close a trade, profits are instantly reflected in your account and can be withdrawn or reused.
Q4: Does leverage affect when I can close a contract?
No. Leverage impacts margin requirements and liquidation risk but doesn’t restrict your ability to close a position early.
Q5: How is the delivery price calculated?
The delivery price is derived from a time-weighted average of major exchange prices over a set period before expiry — preventing manipulation and ensuring fairness.
Q6: Can I adjust my position size after opening?
Yes. You can increase or reduce your exposure by placing additional trades. Just ensure your margin remains sufficient to avoid liquidation.
Key Trading Tips for Beginners
- Start with lower leverage (e.g., 5x–10x) to minimize liquidation risk.
- Use stop-loss orders or take-profit levels to automate exits.
- Monitor funding rates and market sentiment regularly.
- Avoid holding positions too close to delivery unless you understand settlement implications.
- Never invest more than you can afford to lose — crypto markets are highly volatile.
Trading delivery contracts offers powerful opportunities, but also carries significant risk. Success comes from discipline, knowledge, and timely execution.
Final Thoughts: Flexibility Meets Efficiency
OKX’s advanced infrastructure enables traders to open and close delivery contracts freely — combining strategic flexibility with operational efficiency. Whether you're day trading Bitcoin or hedging Ethereum exposure ahead of a major network upgrade, the ability to exit at will gives you full control over your capital.
With real-time settlement, diverse contract options, and robust risk management tools, OKX continues to set industry standards in crypto derivatives trading.
👉 Take control of your trading journey with advanced tools and real-time settlement features.