After the target price is triggered, the price used to convert your coins is not the instant price at the moment of trigger, nor the target price you set. The settlement price is the arithmetic average of the index price over the last 30 minutes before expiry. Only by understanding this rule can you accurately calculate at what price your principal is converted into the other coin.
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Below are 3 steps to break down how the settlement price for Dual Investment is calculated.
Step 1: Understand that the "trigger condition" and the "settlement price" are two separate things
Many people assume "if the target price is triggered, the conversion happens at the target price" — this is incorrect. The sole purpose of the target price is to determine which coin you will receive as settlement; the actual conversion price is calculated separately.
What to do: Distinguish between "trigger judgment" and "conversion price calculation" as two independent steps.
How to do it:
Trigger judgment: The settlement price at expiry is compared with the target price. Taking BTC as an example, if the settlement price ≥ target price, the "Sell High" product triggers the result of "sell BTC for USDT"; if the settlement price < target price, it is not triggered.
Conversion price: Once triggered, the principal is not converted at the target price, but is calculated based on the "settlement price". The settlement price is independently calculated, not the target price itself.
How to know it's done: You are clear that the target price is only a threshold that "determines the direction of the outcome", not the actual price used for conversion.
Common mistake: Assuming the target price is the conversion price and using your principal × target price to estimate the repayment, only to find after settlement that the actual credited amount does not match your expectation.
Step 2: Master the settlement price calculation rule — 30-minute index average
The settlement price is the most critical pricing anchor in Dual Investment. OKX adjusted the settlement price calculation method in March 2026, shortening the sampling window.
What to do: Understand the specific calculation method of the settlement price.
How to do it:
Sampling window: During the last 30 minutes before the product expires (15:00–16:00 UTC+8), the system captures index price data points at 200ms intervals.
Settlement price: The arithmetic average of all price points within that window. Starting March 18, 2026, the window was shortened from the original 1 hour to 30 minutes.
Index price: Derived from the composite prices of multiple major exchanges, not the individual trade price on the OKX platform.
How to know it's done: You know that the settlement price is calculated using the "average index price over the 30 minutes before expiry", not the price at the exact moment of expiry.
Step 3: Calculate actual returns using the settlement price — two formulas for two scenarios
At what price the principal is converted depends on whether the settlement price has reached the target price. The two scenarios correspond to two completely different formulas.
What to do: Based on the relationship between the settlement price and the target price, use the corresponding formula to calculate the actual repayment.
How to do it:
Scenario A (Invest BTC, choose "Sell High" strategy):
| Condition | Settlement Coin | Repayment Amount |
|---|---|---|
| Settlement Price < Target Price | BTC | Subscription Quantity × (1 + Yield) |
| Settlement Price ≥ Target Price | USDT | Subscription Quantity × Settlement Price × (1 + Yield) |
Note: When triggered, the principal is converted to USDT at the settlement price (30-minute average), not at the target price.
Scenario B (Invest USDT, choose "Buy Low" strategy):
| Condition | Settlement Coin | Repayment Amount |
|---|---|---|
| Settlement Price > Target Price | USDT | Subscription Quantity × (1 + Yield) |
| Settlement Price ≤ Target Price | BTC | Subscription Quantity ÷ Settlement Price × (1 + Yield) |
When triggered, the principal is converted to BTC at the settlement price.
How to know it's done: You can substitute the actual settlement price into the corresponding formula to calculate the final credited amount.
Risk note: Price fluctuations during the settlement window directly affect the final settlement price. If the index price fluctuates sharply within the window, the settlement price may deviate significantly from the spot price at the exact moment of expiry. This mechanism is designed to prevent price manipulation at a single point in time, but it also means the settlement price is not solely determined by the price at expiry.
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How to Verify Correctness?
After the product expires, find the settlement details for that order on the [Assets] - [Earn] - [Dual Investment] holdings page. Check three data points:
Settlement price: Does the system-displayed price fall within your expected 30-minute average range?
Settlement coin: Does it match the result of comparing the settlement price vs. the target price?
Actual credited amount: Calculate using the formula and see if it matches the amount displayed by the system.
If all three items align, the settlement for this Dual Investment was executed according to the rules. If you have doubts about the settlement price, you can check the index price sampling record for that product from the order details page (if available).
