In crypto trading, a delivery contract commonly means a dated futures contract with a fixed expiry and prescribed final settlement. The label distinguishes it from a perpetual contract, but does not by itself establish that actual coins will be delivered.
What happens at expiry
Contract specifications determine whether settlement transfers the underlying asset or pays a cash equivalent. A cash-settled BTC contract may use a calculated reference price to settle profit or loss in its designated currency. The reference can differ from the final trade shown on a chart.
Check the expiration timestamp, time zone, final trading deadline and settlement-price method. These details vary across products, including contracts listed on the same venue.
Managing exposure before delivery
Traders may generally close a position before expiry through an offsetting trade, subject to available liquidity and trading rules. Those wanting continued exposure can roll into a later contract, potentially at a different price.
Delivery contracts support hedging a future obligation or taking a directional view. Margin requirements still apply before expiry. Basis changes, settlement fees, market gaps and execution costs mean that reaching the delivery date does not guarantee a profit.