Honeywell HON/USDT on MEXC trades 2% under its index this weekend

HON/USDT, MEXC's Honeywell stock perp, is trading well below its index with the cash market closed. Data from the MEXC contract API at about 1:30 AM ET Sunday; the chart is the Oct 23 3:34 PM ET snapshot.

What the contract is

A USDT-margined perpetual on Honeywell, the US industrials group. Opened at 8:55 AM ET on Oct 23. Contract size 0.001 HON, up to 20x, 0% maker / 0.02% taker, funding every 8 hours.

Weekend tape

• Last 218.23, fair price 219.40, index 222.62, down 1.40%
• 24h range 215.32 to 221.80
• Bid/ask 217.22 / 221.58, a wide spread
• Funding -0.0133%
• 24h turnover about 104K USDT

Levels I am watching

Friday climbed on higher lows to 223.25. Since then the perp has slipped, and it now sits about 1.5% under fair value and 2% under the index. I'm neutral until Monday. A reclaim of 221.80 points back to 223.25. Losing 215.32 opens Friday's 212.58 low.

Risk notes

That spread is wide, so market orders get filled badly. The gap to the index usually closes at the 9:30 AM ET open, in either direction. Use limits, isolated margin and small size.