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Joyride trades around the clock in rounds of 24 hours. Every round settles at 08:00 UTC. All times on Joyride are UTC.

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The round

For example, SOL_USDC-16MAR20-300-C settles at 08:00 UTC on 16 March 2020.

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Settlement price

The settlement price is a time-weighted average of the underlying’s oracle price over the 30 minutes before settlement. One settlement price per underlying is shared by every instrument on that expiry. Settlement describes the full sequence.

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Rollover

At 08:00 UTC the expiring round closes and the next one opens:
  • Expiring instruments stop trading. Requests for quotes on them are rejected.
  • Positions on the expiring round are settled in USDC against the settlement price.
  • The next round’s instruments are created and announced.
The tradable instrument set changes at that moment, so anything that holds instrument names, whether a bot, an agent, or a person with a chart open, should refresh its list around 08:00 UTC rather than assume yesterday’s names are still live. For builders, new listings are visible through public/get_instruments on the trading WebSocket and GET /api/v1/market/instruments, and settlement results are read from GET /api/query/rfq-fills.