Every day at 8AM UTC, Profit and Loss (P&L) is settled in the Settlement Coin.

P&L settlement reflects both realized and unrealized P&L. Unrealized P&L is calculated based on the mark price at the time of settlement.

USDt is used as the Settlement Coin. P&L in USD is converted into a USDt debit/credit using a market-based USDt/USD rate.

Note that Thalex can, at its sole discretion, select a different Settlement Coin.