Positions and Settlement

The account view is the source for current positions, average prices, realized P&L, execution fees, working-order margin, and available margin. Clients should not reconstruct money state from fills alone.

During the session

Orders and fills update position and margin state. Execution fees are deducted on every fill and accumulate in realized_fees. Open P&L changes with the current mark.

The point-in-time account response includes:

• accountstate for balances, delegates, unlock reservations, and contract margins;

• orderfills for recent order outcomes;

• trader_margin_state for current available margin and risk position; and

• accountops for delegation and unlock receipts and records.

Bots should also consume the continuous order feed and use the server-published margin state rather than a locally recomputed substitute.

Screenshot slot: show available margin, position, execution fees, open orders, and recent outcomes in one account view.

Daily settlement

At daily settlement, open P&L folds into the Bitcoin balance and the carried position's average price resets to the settlement mark. The position can continue into the next session subject to the current contract and margin rules.

While the market is open, the account view keeps four numbers distinct: opening balance, realized P&L, unrealized P&L at the latest mark, and current marked equity. At the close, unrealized P&L becomes realized, the balance moves by the full session result, and unrealized P&L returns to zero. The closing view keeps the session P&L beside the new balance so the trader can see both the result and what the account has now.

Use the session schedule returned by the exchange. Feeds are quiet while closed; that is not, by itself, evidence of lost connectivity.

Expiry and roll

USDBTC products are dated. Always read the active ticker and expiry in the current Contract Specifications. Do not submit a stale ticker, and do not assume a position will be automatically unlocked at expiry.

If you intend to exit, flatten exposure and cancel working orders before requesting an owner-signed unlock. Unlock progress is separate from position settlement and has no promised completion time.