What is the settlement method?
CoinFLEX futures contracts are physically delivered. This means an owner of one Bitcoin futures contract at settlement is entitled to receive 0.0001 XBT whilst a seller is entitled to receive the USDT based on the price at which they traded the contract.
When does settlement occur?
Settlement occurs on the last Friday of the futures contract period at 12:00 UTC.
What happens at settlement?
If leverage funding has not been repaid previously, it is automatically due for repayment on the same day as the last day of the Contract month, which is the last Friday of that month. Once settlement has occurred, you may withdraw any profits that you have made on the leveraged trade.
What is margin Ramp Up?
Margin Ramp Up is the repayment period schedule that occurs towards the end of an open futures contract period. CoinFLEX will increase margin requirements over two business days starting on the Wednesday before the settlement date of the contract to ensure all users are able to deliver in accordance with their settlement obligations. Once every hour for 24 hours starting at 12pm UTC on Wednesday until 12pm UTC on Thursday, CoinFLEX will increase the margin requirements for all users.
The increase in margin requirements refers to the decreasing maximum leverage funding available throughout the couple days of trading once the Ramp Up schedule starts.