The settlement will occur every 1 hour (24 sessions per day at 00:00, 01:00, 02:00 … 23:00 UTC). This is known as the Session End Time. Realized and unrealized session profits gained at any point during the 1 hour prior to the Session End Time can only be withdrawn at or after settlement. At the end of each session, all positions’ Average Prices will be reset to the Mark Price (except for the session on the date of expiry, where all positions will be settled and expired – see Expiry Settlement).
The Socialised Loss Mechanism may be applied if the Insurance Fund is depleted.
The final Session End Time for the futures contract will be 08:00 UTC on the date of expiry. This is known as the Expiry Settlement. Realized and unrealized session profits gained at any point during the 1 hour prior to the Expiry Settlement can only be withdrawn at or after settlement. All positions will be settled at the Settlement Price. The expiry Settlement Fee is 0.025%.
The Settlement Price is calculated as the Time Weight Average Price of the Index Price over the last 60 minutes before the Expiry Settlement measured between 07:00 UTC and 08:00 UTC on the date of expiry.
Mark Price is used for calculating the margin requirement, and therefore also used to determine when margin-related notices are triggered and whether Forced Liquidation occurs. It is a means used to help prevent market manipulation and unnecessary liquidation.
Mark price for futures contract is a forward rate calibrated under internal risk modeling using external market prices.
Session End Time
Every 1 hour (24 sessions per day at 00:00, 01:00, 02:00 … 23:00 UTC) daily is when settlement occurs, this is known as the Session End Time.
The notice period for Crypto.com to terminate open positions
In certain circumstances, Crypto.com may close out any and all positions if it considers such measures are required. The applicable notice period is at least 48 hours.