Event Contracts Hit settlement FAQ

Published on Apr 16, 2026Updated on Jul 8, 20264 min read

What is a Hit contract?

A Hit contract settles immediately, once the OKX Spot Index Price touches the target price during the contract's live period — no need to wait for expiry.

Settlement anchor: OKX Spot Index Price

BTC events: https://www.okx.com/markets/index/btc-usdt
ETH events: https://www.okx.com/markets/index/eth-usdt
XAU events: https://www.okx.com/markets/index/xau-usdt

How is a Hit contract settled?

Hit-Up (target price above): index ≥ target → settles as "Yes"
Hit-Down (target price below): index ≤ target → settles as "Yes"
A touch is registered when the per-second index high or low meets the trigger condition; no minimum duration is required.
Settlement price: the OKX Spot Index Price. A Touch Event is confirmed when the index price reaches or crosses the Strike Price.
Not touched by expiry: if no touch occurs during the contract life, the contract settles as "No".

Is there a delay between a touch and contract closure?

Yes. There is a short delay between the touch and the trading halt — normally no more than 2 seconds in total; longer if a data anomaly routes to manual handling. During this delay, the contract may still be tradeable. Do not rely solely on tradeability; verify whether the target has already been touched before placing an order.

Note: the price trend of the corresponding underlying asset should be based on the high and low prices of the candlestick (K-line) chart. The line chart only shows the closing price — the highs and lows between two adjacent points are not displayed on the line.

What are the special rules for XAU (Gold) contracts?

Gold's underlying market follows fixed trading sessions and holiday closures. OKX references the XCEC Holiday Calendar to identify scheduled non-trading days for the XAU index. If the scheduled expiry date of an XAU Between contract falls on a non-trading day, OKX will not list that contract. For listed XAU Between contracts, settlement is performed only when the underlying market is open for trading and index prices are available.

If an unscheduled trading halt, early close, stale price, insufficient data, or other underlying market disruption occurs, the event enters dispute review and OKX determines the final settlement price under the manual settlement procedure.

How is a dispute triggered and processed?

A dispute can be triggered automatically (e.g., missing index price or a risk-control rule is triggered) or manually (anomaly detected by the platform or user complaint via ticket). Once triggered, a multi-round independent review is conducted. An authorised operator inputs the applicable settlement price, the corresponding reference timestamp, and the reason for manual settlement to confirm the final settlement price.

What happens to my orders and positions during a dispute?

During dispute review, settlement is suspended and all resting orders on the affected contract will be cancelled at the designated settlement time. Open positions will be settled at the confirmed price once the review is complete.

What is the outcome of a dispute?

If the original price is confirmed correct, the contract settles at the original price. If a price error is identified, the contract is re-settled at the corrected price.

Are there any fees for settlement?

No. Upon settlement, profit and loss are credited to the user's account and the position is closed. No additional fees are charged for settlement.

What are the key risks I should be aware of?

For Hit contracts, there is a short delay between the price touching the target and the trading halt. The delay may be longer when a data anomaly requires manual review. Do not rely solely on tradeability; verify whether the target has already been touched before placing an order.
Settlement is anchored solely to the OKX Spot Index Price. The settlement price is the index value at the trigger moment and may differ from the price on any single exchange at a given moment.
Gold's underlying TradFi market follows fixed trading sessions and holiday closures, and may experience unscheduled trading halts, early closes, stale-price conditions, or insufficient data, any of which may trigger dispute review.
In situations such as major market disruption or systems failture, OKX reserves the right to temporarily pause trading or suspend settlement on affected Event Contracts. OKX aims to resume normal operations as quickly as possible and will keep you updated through its official channels.

Disclaimer

This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto/digital assets, or (iii) financial, accounting, legal, or tax advice. Crypto/digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding crypto/digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. © 2026 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2026 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2026 OKX.” No derivative works or other uses of this article are permitted.