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Unlike perpetual futures, leveraged positions in openPunt have a maturity. The trader decides what maturity they want by choosing a time in the future. Before the maturity, only the trader is allowed to close their position, unless it is liquidated. After the maturity you can still close your position, but the matcher can also close it for you by submitting an oracle report. It is not guaranteed that your matcher will close the position for you after maturity.

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Setting maturity

Maturity is set when you request a position, under Advanced Settings. The default is 1 day. Memecoin maturities start at 1 day with either collateral. The clock starts when the opening openOracle game becomes eligible to settle, not when you submit the request. On stock markets, the UI also blocks maturities that would reach within one day of the share’s ex-dividend date or split. See Trading pairs.

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Before maturity

Only you can close the position. An oracle game can still liquidate it if it settles at a price that puts your equity below the maintenance margin; otherwise the position stays open.

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After maturity

Any oracle game that becomes eligible to settle after maturity either closes the position at the settled price, or liquidates it if unhealthy. In practice the matcher, or anyone else, can start an oracle game and close it. Closing is not automatic. The position stays open until an oracle game settles, and funding is charged for the whole time it is open, including any time past maturity.

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Recovery

For oracle games reported 60 hours or more after maturity, the block pace and execution delay checks are skipped, and so is the gas check when the game starts. A position therefore cannot stay stuck open because those checks keep cancelling its games.

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Effect on Auto settings

Maturity feeds the Auto values on the ticket. A longer maturity allows a larger price move, so Auto Max ROE grows with it. On markets whose Auto Funding includes a variance or covariance term, that term is roughly measured over a lookback equal to the maturity.