Settlement

Every futures market settles once, at its expiry, on the oracle’s value of its index. Your positions settle without you doing anything. Afterwards, one command moves the cash to your wallet.

Note

Petri’s release for Solana mainnet is coming. See Availability.

What a position pays

A lot pays $0.01 per index point (the market’s lotUsdPerPoint). At the settlement value, each lot of a position on the range from LO to HI pays:

Side	Points paid per lot
Long	How far the settlement is above LO, up to HI − LO. Nothing at LO or below.
Short	How far the settlement is below HI, up to HI − LO. Nothing at HI or above.

A long and a short on the same range together always pay the whole range, HI − LO points.

For example, a long of 100 lots on 87–135 that cost $10.37 pays $1.00 a point. If RAMX settles at 110, it pays (110 − 87) × $1.00 = $23.00. At 135 or above it pays the most, $48.00. At 87 or below it pays nothing, and the loss is the $10.37 it cost.

When it happens

1. Expiry. Trading stops at the market’s expiry. A market named for a month expires at 00:00 UTC on the first day of the next month: RAMX Oct 26 on November 1. petri markets shows each market’s time. Until it settles, its status reads paused.
2. The oracle’s value. The market settles on the oracle period it was created against: the same index and the same month. The value is fixed when the oracle publishes that month’s result, which can be some time after expiry. petri market then shows Settled with the value, and the status reads settled at that value.
3. Payout. Amoeba’s keeper settles each position into its owner’s free cash in that market. Orders still resting are released, and the cash they held is freed too.

If the oracle period fails, or has not settled, the governance council can set the settlement value any time after expiry, and the status then reads failed at that value.

You can close a position at any time before expiry with petri close. See Trading and wallet actions.

What you do

petri market ramx-oct26          # has it settled, and at what value?
petri positions                  # your settled positions and free cash
petri withdraw ramx-oct26 all    # move the cash to your wallet

Name the market in full, such as ramx-oct26. Once a market has settled, ramx on its own means the next open RAMX market.

After settlement, petri positions values each position at the settlement value, and petri history lists each settlement with what it paid out. Nothing reaches your wallet until you withdraw.

Follow the oracle

The index value comes from the oracle month for that index and expiry: RAMX-202610 for RAMX Oct 26.

petri oracle months ramx        # each month's phase, sources and settlement status
petri oracle catalog            # every oracle period with its settlement time
petri oracle sources ramx       # the sources behind each month
petri oracle recipe ramx        # buckets, weights and sources

petri market shows the state of the market’s oracle period in its Settlement line, for example (period live).

See How the oracle works and Read commands.