10% is the number behind MEXC Price Protection

What Price Protection actually checks

MEXC futures show more than one price. The last price is the latest trade. The fair price is the reference MEXC uses for things like unrealized PnL and liquidation, and it is built to resist one-off wicks.

With Price Protection on, when a TP or SL trigger order reaches its trigger price, MEXC compares the last price with the fair price. If the gap is bigger than that contract's threshold, the trigger order is rejected. It does not execute.

Two details people miss:

• It only applies to trigger orders created after you enable it. Older TP/SL orders keep the old behavior.
• The switch sits in Futures Preferences, next to the other account-level choices there: Single-Asset or Multi-Asset margin, Hedge or One-Way, Simple or Advanced leverage mode, Flash Trading, showing the estimated liquidation price, and Reverse Position Protection.

The SOL numbers, step by step

From the MEXC public feed at about 3:56 PM ET: SOL_USDT last 94.65, fair 94.65, index 94.66, 24h high 98.15, 24h low 89.81.

1. Threshold = fair x 10% = 94.65 x 0.10 = 9.465.
2. Upper edge: if fair stays at 94.65, a trigger is rejected while last trades at or above 104.115.
3. Lower edge: rejected while last trades at or below 85.185.
4. Today's whole 24h range, 89.81 to 98.15, is 8.34 wide, or 8.81% of fair. That is a full day of movement, and it still never opened up a gap between last and fair. At the time of the check, the actual gap was 0.

In other words, on a normal day Price Protection does nothing you would notice. It only acts when last price detaches sharply from fair, which is the flash-wick scenario it exists for.

Why it cuts both ways

Upside: a sudden wick in last price on a thin book, while fair barely moves, will not fire your stop and close you at a terrible print.

Downside: if that gap is real and the market keeps going, your stop was rejected, and you are still in the position. Price Protection does not move your stop or re-place it for you. Decide which risk you would rather carry before you flip the switch.

Sizing the stop itself

The same spec sheet gives SOL_USDT a contract size of 0.1 SOL and a taker fee rate of 0.0002. A stop that closes 100 contracts closes 10 SOL. At 94.65 that is 946.5 USDT of notional, and the taker fee on that market close is about 0.19 USDT. Use your own contract count, with the same arithmetic.

Other coins on the same board

At the same moment the gaps were tiny everywhere: BTC_USDT last 80,020 vs fair 80,021.5 (a 1.5 USDT gap, about 0.002%), ETH_USDT 2,417.03 vs 2,416.98, XRP_USDT 1.301 vs 1.3011, and DOGE_USDT 0.07666 vs 0.07666. BTC also shows a 10% threshold. For ETH, XRP and DOGE, open the contract details and read the threshold yourself rather than assuming it.

Common mistakes

• Turning it on and assuming existing stops are now protected. Only new trigger orders are covered.
• Treating a rejected stop as filled. Check your position after any violent move.
• Thinking it compares your trigger price with fair. It compares last with fair at the moment of the trigger.
• Using it as a substitute for sizing. A rejected stop on an oversized position is the worst case.

FAQ

Q: Is it on by default? A: Treat it as something you choose in Futures Preferences, and confirm the current state of the switch on your own account.

Q: Is the threshold the same for every pair? A: Do not assume so. SOL and BTC both show 10% today. Check each contract.

Q: Does it touch normal limit orders? A: The protection described here is for TP/SL trigger orders.

Myth: Price Protection makes stops safer in every case. Fact: it swaps one tail risk (a bad wick fill) for another (no fill at all).