Cryptocurrency derivatives trading has become increasingly popular, with delivery contracts offering traders a powerful way to profit from price movements—whether up or down. On OKX, one of the leading digital asset platforms, delivery contracts allow investors to speculate on the future price of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with settlement occurring in crypto upon expiration.
This guide walks you through everything you need to know about OKX delivery contracts, including how they work, how to transfer funds, set up your account, open and close long and short positions, and navigate both the mobile app and web platform seamlessly.
What Are Delivery Contracts?
A delivery contract is a type of futures contract that settles in cryptocurrency at expiration. Unlike perpetual contracts, delivery contracts have a fixed expiry date, after which all open positions are automatically settled based on a predefined index price.
For example, a contract named BTCUSD-26SEP25 expires on September 26, 2025. At that time, the final settlement price is calculated as the arithmetic average of the spot index price during the hour before delivery.
These contracts support two settlement types:
- USDT-margined contracts: Margin and P&L denominated in USDT.
- Coin-margined contracts: Margin and P&L denominated in the base cryptocurrency (e.g., BTC).
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Step-by-Step Guide: Using Delivery Contracts on OKX
1. Fund Transfer (App & Web)
Before trading, you must transfer funds from your main wallet to your derivatives trading account.
On Mobile App:
- Open the OKX app
- Tap [Assets] → [Funds Transfer]
- Select currency (e.g., USDT)
- Transfer from Funding Account to Trading Account
- Enter amount → Confirm
On Web Platform:
- Click [Assets] in the top-right corner
- Choose [Fund Transfer]
- Select currency → Source: Funding Account, Destination: Trading Account
- Enter amount → Confirm
Ensure sufficient balance to avoid failed orders—especially when using high leverage.
2. Account Settings & Configuration
Customize your trading environment for better control.
Access Settings:
- App: Tap the icon in the top-left → [Account Info] → [Trading Settings]
- Web: Click the gear icon in the trading interface → [Trading Settings]
Key Options:
Account Mode: Toggle between Cross Margin and Isolated Margin
- Cross Margin: Uses entire account equity as collateral—higher risk but more flexibility.
- Isolated Margin: Limits risk to allocated margin only.
- Trading Unit: Choose between Coins, Contracts, or USDT, depending on contract type.
This setup ensures you're prepared for precise order execution.
3. Going Long: Buy to Open, Sell to Close
When you expect prices to rise, open a long position.
Buy to Open (Long)
- Go to [Trade] → Select trading pair (e.g., BTC/USDT)
- Switch mode → [Delivery] → [USDT Contract]
Choose:
- Margin mode (Cross/Isolated)
- Leverage (up to 125x for BTCUSDT)
- Order type: Limit Order
- Input price and quantity
- Tap [Buy to Open Long] → Confirm
💡 Pro Tip: Always monitor volatility. High leverage amplifies both gains and losses. Use stop-loss orders wisely.
Sell to Close (Exit Long)
You can close your position in two ways:
From Trade Page:
- Click [Close Position] → Set limit order → Enter price & quantity → [Sell to Close Long]
From Positions Tab:
- Go to [Positions] → Select open long → Tap [Close] → Use limit or market price → Confirm
Use Take Profit / Stop Loss orders to automate exits:
- Tap [Take Profit / Stop Loss]
- Set trigger prices and quantity
- Confirm
For urgent exits, use [Market Close All] to instantly liquidate.
Frequently Asked Questions (FAQs)
Q: What happens when a delivery contract expires?
A: All open positions are settled automatically using the average spot index price from the hour before expiry. The profit or loss is credited in cryptocurrency or stablecoin, depending on the contract type.
Q: Can I hold a delivery contract past its expiration date?
A: No. Positions are forcibly closed at expiration. You cannot roll over manually—you’ll need to open a new position in a later-expiring contract if desired.
Q: How is the liquidation price calculated?
A: It depends on margin mode and funding. In isolated margin, it’s based on entry price, leverage, and fees. In cross margin, it considers total account equity across all positions.
Q: Is 125x leverage safe for beginners?
A: While OKX supports up to 125x leverage for BTCUSDT delivery contracts, such high levels significantly increase liquidation risk. Beginners should start with lower leverage (e.g., 5x–10x) to manage risk effectively.
4. Going Short: Sell to Open, Buy to Close
If you anticipate a price drop, open a short position.
Sell to Open (Short)
- Navigate to [Trade] → Select BTC/USDT
- Switch to [Delivery] → [USDT Contract]
- Pick margin mode, leverage, and order type
- Enter price and quantity
- Click [Sell to Open Short] → Confirm
You profit if the price falls below your entry level.
Buy to Close (Exit Short)
Same as closing longs:
- From trade page: Use [Buy to Close Short]
- From positions tab: Select short → Tap [Close] → Enter details
Set automatic take-profit and stop-loss triggers just like with longs.
⚠️ Note: During high volatility, limit orders may not fill immediately. Consider using market orders cautiously for faster execution.
👉 Maximize your market opportunities with advanced order types and real-time data feeds.
Monitoring Your Positions
After opening a trade, track performance via the Positions tab:
- Average Entry Price: Your weighted buy/sell price
- Mark Price: Used for calculating P&L and preventing manipulation
- Estimated Liquidation Price: Price at which your position may be auto-closed
- Initial Margin & ROI: Shows capital used and return percentage
- P&L in USDT: Realized/unrealized gains or losses
Understanding these metrics helps you make informed decisions and avoid unexpected liquidations.
Managing Orders and Pending Trades
Keep track of active orders under:
- [Current Orders] → View pending limit or stop-limit entries
- Use [Cancel] to remove unwanted orders
- Check [Order History] for completed trades
You can also set conditional orders including take-profit and stop-loss when placing initial trades.
Web vs App: Key Differences?
While core functionality remains consistent, navigation varies slightly:
| Feature | App | Web |
|---|---|---|
| Access Path | Bottom menu → Assets/Trade | Top bar → Assets/Contract Trading |
| Settings Location | Top-left icon | Top-right gear icon |
| Trade Interface | Streamlined for touch | Feature-rich with charts |
Both platforms offer full delivery contract support—choose based on your preference for mobility or advanced charting tools.
👉 Experience seamless trading across devices with synchronized accounts and real-time updates.
Final Tips for Safe & Effective Trading
- Always use stop-loss orders to limit downside risk.
- Avoid max leverage unless you fully understand margin mechanics.
- Monitor upcoming expiration dates—don’t get caught off guard.
- Review funding rates and index prices regularly.
- Start small, test strategies in low-risk environments first.
With proper risk management, delivery contracts can be a valuable tool in your crypto trading arsenal.
By mastering the OKX delivery contract interface—on both app and web—you gain access to flexible, high-potential trading opportunities backed by robust infrastructure and deep liquidity.