Medtronic stock perp live on Bitunix: MDTUS/USDT

MDTUS/USDT on Bitunix, a quick read for traders.

What it is: a USDT-margined perpetual that tracks Medtronic (NYSE: MDT) shares. No expiry, settled in USDT, up to 20x, funding settles every 8 hours. It trades around the clock, including when the stock market is closed. Bitunix opened it at 8:00 AM ET on Oct 21, alongside BAC, CEG and IBKR.

Structure at 11:44 PM ET: last 95.68, mark 95.65, index 94.74, down 0.84% on the day. 24h range 95.03 to 97.90. The chart jumped from about 93 to 96 on Oct 22 and has ranged between 95 and 97 since, with lower highs today.

Liquidity: about 72K USDT of 24h volume. The book is thin, so expect slippage on size.

Funding: -0.0637% per 8h, so shorts pay longs a little.

Bias: SHORT. The perp trades about 1% above the index while the cash market is closed, and the highs are fading. That favors a drift toward 94.74, then 93. Invalidation is a 1h close above 97.90, the range high.

Risk: the stock gaps at the Monday open, and weekend perp prices can be far from where the cash market opens. Liquidation runs off mark price. Use limit orders, isolated margin and small size.

NFA

Bias: SHORT, perp 1% over index with cash shut. Invalidation: 1h close above 97.90. NFA