AMGN/USDT stock perp live on KCEX: Amgen (biotech)

AMGN/USDT on KCEX, a quick read for traders.

What it is: a USDT-margined perpetual tracking Amgen, the US biotech. No expiry, settled in USDT, contract size 0.01 AMGN, up to 25x (4% initial / 2% maintenance margin at base tier). Index is sourced from OKX futures. The contract went live at about 5:31 AM ET today.

Structure at 5:35 PM ET: last 451.16, up 2.28% on the day. 24h range 438.24 to 451.16, so price is sitting on the high. Index and mark both 451.15. Turnover about 214.8K USDT, open interest about 126.6K USDT. The 15m chart shows a flush to 438.24 in the morning, a steady climb, a pullback to the 447 area after 4 PM ET, and a fresh push to the high.

Funding: -0.0114% per 8h, next settlement 8:00 PM ET. Slightly negative, so shorts pay longs a little.

Fees: 0% maker, 0.01% taker.

Bias: LONG while the 447 pullback low holds; it is the higher low under the breakout. Upside reference is a clean hold above 451.16. Invalidation is a loss of 447; below it, the 438.24 low is the next reference.

Risk: the US cash session is closed, so the perp trades after hours against a thin book and can gap when the stock reopens. New listing, low turnover: use limit orders, isolated margin and small size.

NFA

Bias: LONG, pressing the day high. Invalidation: loss of 447. NFA