If you hold an OKX delivery contract until expiry, verifying the settlement P&L takes two steps: first confirm how the delivery price is determined, then find the "delivery settlement" record in your bills. The delivery price is the arithmetic average of the index price over the last 30 minutes before expiry, not the instantaneous price at the moment of expiry. What you ultimately receive or pay is the difference between your average entry price and this delivery price, settled in cash into your account balance.
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Delivery settlement is not the same as the "settlement P&L" you usually see
OKX delivery contracts have a daily settlement mechanism, but it only applies to cross margin positions, and daily settlement is not executed on the expiry day. This means that if you hold a cross margin delivery contract, on the days before expiry, at 4:00 PM (UTC+8) each day, you have already received a series of "settlement P&L" entries, and your average entry price has been updated to each settlement price. At expiry, the "average entry price" used to calculate P&L is your average price after the last daily settlement, not the original entry price. If you hold an isolated margin position, daily settlement does not apply, and the original entry price is used directly for expiry settlement.
So when verifying settlement P&L, first confirm your position mode. For cross margin, the P&L in the delivery bill covers the segment from "last settlement price → delivery price". For isolated margin, it covers "original entry price → delivery price". This is usually where discrepancies come from.
Find the delivery bill and check two fields
After OKX delivery settlement is completed, the position disappears and the account balance changes. When verifying, do not look at the "unrealized P&L" on the positions page; that number will reset to zero after delivery. Instead, go to Bills (or transaction history) and filter for entries with the type "Delivery Settlement" or similar.
In the bill, you need to check the delivery price and the settlement P&L. The delivery price is calculated by the platform and cannot be changed by you, but you can verify it: it is the average of the index price over the 30 minutes before expiry. If you have doubts about the published delivery price, this is the only basis for review. The sign of the settlement P&L (positive or negative) indicates whether you made a profit or loss, and the amount should match your position direction, size, and average entry price.
For example, for a USDT-margined delivery contract long position, settlement P&L = position quantity × (delivery price − average entry price). If you hold a 0.1 BTC BTC-USDT delivery long position with an average entry price of 100,000 USDT and a delivery price of 105,000 USDT, the delivery P&L is 0.1 × (105,000 − 100,000) = 500 USDT. This amount should appear in your USDT balance change. The formula for coin-margined contracts is different, and P&L is denominated in the coin, so you cannot directly apply the USDT-margined formula.
Negative balance and clawback in extreme cases
If your loss at delivery exceeds your account's capacity, the balance may become negative. OKX's rule is that the insurance fund will cover the negative balance and generate a "Delivery Clawback" bill. If you see this record, it means your loss exceeded your account funds, but the platform covered it. This is not a normal P&L verification scenario; it is a signal that you need to review whether your position size and leverage were out of control.
Completion standard
After delivery is completed, find the delivery settlement record in your bills and confirm that the settlement P&L amount matches your manual calculation based on the average entry price and delivery price (allowing for differences in average price caused by daily settlement). The account balance should already reflect this change, and the position for that contract should have disappeared from the positions page. If you cannot find the record in your bills, or the amount clearly does not match, first check the position mode (cross/isolated) and whether daily settlement occurred, then check whether the delivery price matches the 30-minute index average before expiry.
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References
- OKX·Delivery Contract Expiry Settlement Rules, 2026-10-25
- OKX·Introduction to Delivery/Exercise Rules, 2026-10-25
- OKX·Delivery Contract Daily Settlement Mechanism, 2026-10-25
- OKX·Delivery Contract P&L Calculation Rules, 2026-10-25
