A fully funded futures contract requires the Cboe Digital clearinghouse to hold at all times the entire amount of funds required to settle each futures contract. Accordingly, there are no daily transfers of funds or calls for variation margin on fully funded contracts.
For Cboe Digital Physically Delivered futures, at the time of entering into a contract, the seller of the contract must post to the clearinghouse the entire amount of the crypto being sold and the buyer of the contract must post the equivalent amount of US dollars.