Cryptocurrency derivatives trading has become increasingly popular, and one of the most widely used instruments is the delivery contract—a type of futures contract that settles automatically at a predetermined time. On OKX, delivery contracts are settled in USDT or cryptocurrency, with prices based on the latest market trade rather than an index. This guide will walk you through everything you need to know about OKX delivery contracts, from setup to execution, while highlighting key rules and best practices.
Understanding Delivery Contracts
A delivery contract is a futures agreement where both parties commit to buying or selling an asset at a set future date—the delivery date—using the current futures price. Unlike perpetual contracts, delivery contracts do not include funding fees and are automatically settled upon expiration.
On OKX:
- Contracts can be USDT-margined or coin-margined (e.g., BTCUSD).
- Settlement occurs using the last traded price, not a price index.
- Available cycles: weekly (this week, next week), quarterly (this quarter, next quarter).
These contracts are ideal for traders who want to hedge positions or speculate on price movements without holding the underlying asset long-term.
👉 Discover how to start trading delivery contracts with confidence.
Step-by-Step: How to Trade OKX Delivery Contracts
1. Account Registration and Verification
To begin trading delivery contracts on OKX, follow these steps:
- Visit the official OKX website and click “Sign Up” on the homepage.
- Enter your email address and confirm via the 6-digit code sent to your inbox (valid for 10 minutes).
- Complete phone number verification by entering the SMS code received.
- Set a strong password and ensure your residence country matches your ID information.
- After logging in, go to your Profile > Identity Verification and complete Level 1 KYC to enable trading. For higher withdrawal and trading limits, proceed to Level 2 verification.
Once verified, you're ready to fund and trade.
2. Configure Your Trading Account
Before placing trades, configure your account settings properly:
Select Account Mode: Choose between:
- Single-currency margin mode: Margin is isolated per currency.
- Multi-currency margin mode: Uses multiple assets as collateral.
- Enable contract trading in your account settings.
- Customize preferences such as order types (limit, market, stop-limit) and trading units (base quantity vs. quote amount).
These settings help tailor your trading experience based on risk tolerance and strategy.
3. Execute a Delivery Contract Trade
Let’s walk through a real example using a coin-margined quarterly delivery contract:
- Transfer Funds: Move assets from your funding account to your trading account. If already funded, skip this step.
Navigate to the Trading Interface:
- Search for your desired trading pair (e.g., BTC/USD).
- Under “Margin Trading,” select Delivery.
- Choose the contract cycle: This Week, Next Week, This Quarter, or Next Quarter.
Set Your Trade Parameters:
- Select leverage (adjustable within allowed limits).
- Choose order type (limit, market, etc.).
- Enter price and quantity.
- Click Buy (Open Long) if bullish or Sell (Open Short) if bearish.
Monitor Open Positions:
- View active positions under the Positions tab.
- Track key metrics: margin, P&L, ROI, estimated liquidation price.
Manage Risk:
- Set take-profit and stop-loss orders.
- Close manually by entering a price or use Market Close All for instant exit.
This structured approach helps maintain discipline and reduce emotional decision-making.
👉 Learn how professional traders manage risk in volatile markets.
Key OKX Delivery Contract Rules You Must Know
Understanding the settlement mechanics is crucial for successful trading:
Settlement vs. Delivery:
- Weekly contracts undergo actual delivery—positions are settled and closed at expiry.
- Bi-weekly and quarterly contracts undergo settlement only, meaning positions continue but profit/loss is recalculated based on the settlement price.
Profit Realization:
- After delivery or settlement, realized gains are credited to your account equity.
- Profits can be withdrawn from the virtual contract account after settlement.
Pre-Settlement Exit Strategy:
- If you close your position before settlement, both initial margin and realized P&L become withdrawable immediately.
- This allows faster capital rotation compared to holding until expiry.
Margin Mode Differences:
- In cross-margin mode, profits can be used to open any type of contract.
- In isolated-margin mode, profits are restricted to opening the same type of contract.
These rules impact liquidity management and should guide your exit timing.
Frequently Asked Questions (FAQ)
Q1: What is the difference between USDT-margined and coin-margined delivery contracts?
USDT-margined contracts use stablecoins as collateral, making profit/loss calculations more predictable. Coin-margined contracts use the base cryptocurrency (like BTC) as margin, exposing traders to additional volatility but often offering deeper liquidity.
Q2: When do OKX delivery contracts expire?
Weekly contracts expire every Friday at 08:00 UTC. Quarterly contracts expire on the last Friday of each quarter at the same time. Always check the platform for exact countdowns.
Q3: Can I hold a delivery contract past its expiration date?
No. Delivery contracts are automatically settled or delivered at expiration. You cannot hold them beyond the maturity date.
Q4: Is there a funding fee for delivery contracts?
No. Unlike perpetual swaps, delivery contracts do not charge funding fees because they have a fixed expiration.
Q5: How is the settlement price determined?
OKX uses the volume-weighted average price (VWAP) over a short window before expiration—not the spot index—to prevent manipulation and ensure fairness.
Q6: What happens if I’m leveraged during delivery?
Your position will be closed at the final settlement price. High leverage increases liquidation risk, especially near volatile expiries. Always monitor your margin ratio.
Risk Management Tips for Delivery Contract Traders
While delivery contracts offer high reward potential, they come with significant risks:
- ❌ Avoid combining high leverage with large position sizes—this dramatically increases liquidation risk.
- ✅ Use stop-loss orders consistently to limit downside.
- ✅ Diversify across contract types and expiration dates.
- ✅ Never trade with funds you cannot afford to lose.
Remember: Trading is a marathon, not a sprint. Discipline beats aggression in the long run.
👉 Access advanced tools that help you analyze market trends before entering a trade.
Final Thoughts
Trading OKX delivery contracts offers a powerful way to gain exposure to cryptocurrency price movements with defined timelines and no ongoing funding costs. Whether you're hedging spot holdings or speculating on short-term moves, understanding the mechanics—registration, setup, execution, and settlement—is essential.
By following this guide, you now have a solid foundation in how delivery contracts work on OKX, including practical steps and critical rules. As always, prioritize risk management and continuous learning.
Stay informed, stay strategic, and trade wisely.