- Trading on FTX
- Trading OIL contracts is not permitted by residents of the United States, Canada, the European Union, the United Kingdom, Singapore, the UAE, Cambodia, Turkey, mainland China and Hong Kong SAR, and other FTX prohibited jurisdictions.
Note: FTX OIL contracts expire to spot oil plus $100! Please make sure you understand this before trading.
What are OIL contracts?
OIL contracts are futures that expire to the spot price of WTI oil. In particular, a contract expiring on day X will expire to the published Cushing, OK WTI Spot Price FOB here for day X, plus 100.
We add $100 to each contract in case the spot price goes negative. Note, however, that if the spot price of oil goes below -$100, FTX OIL contracts can theoretically expire negative.
Who can trade OIL?
You must be at least KYC level 1 to trade OIL contracts, and you must not be a resident (based on KYC or IP address) of the United States, Canada, the European Union, the United Kingdom, Singapore, the UAE, Cambodia, Turkey, or mainland China and Hong Kong SAR.
How Does Margin Work?
Margin works the same as for other FTX futures; note that the OIL contracts will generally trade at a price a bit above $100, and require a commensurate amount of margin.
How Do Fees Work?
Similarly, fees follow the normal FTX fee structure, based on the traded price of the oil futures (spot plus $100).
How Does Expiration Work?
FTX OIL contracts have a listed expiration date. They will expire to the price listed here for that date. In the case of missing data, they will expire to the first date after their expiration date to have a listed price.
This website updates every Wednesday to include data through that Monday. If an expiration price is missing on the relevant Monday for any reason, the futures will expire to the price posted on the closest date afterwards. As such, the contracts will deliver once the data is available, generally a few days after their expiration date. The futures will keep trading up until they are settled even when the expiration date has passed.
How Does The GUI Work For Pricing?
By default the GUI will display the contract price, which expires to $100 plus spot. However, there may be a toggle to display the price without the additional $100.
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