Expiration forced liquidation, cash settlement of profits and losses. Usually stops trading at 16:00 (UTC+8) on Friday afternoons. Settlement is based not on the last second price, but on the average index price one hour before delivery (to prevent large holders from maliciously manipulating spikes). Cash settlement. The system automatically closes your orders, and the profit or loss difference is directly settled into USDT or BTC in your account, without involving actual $BTC transfers.