OpenAI Pre-IPO perp is live on BYDFi: OPENAI USDT-M up to 20x, faded from the open high
Key takeaway
BYDFi added a USDT-margined Pre-IPO perpetual on OpenAI, the private company behind ChatGPT, at 5:00 AM ET today. With no listed share, the index tracks the matching pre-IPO perps on MEXC, Binance, Gate, Bitget, Bybit, KuCoin and OKX.
Specs (official BYDFi contract API, 5:38 PM ET)
- 0.01 OPENAI per contract, up to 20x (5% initial, 2.5% maintenance margin).
- Taker 0.06%, maker 0.02%.
- Funding +0.005% per 8h.
First session
- Flat at 1,371-1,376 from launch to 9 AM ET.
- Broke lower at 9 AM and slid to 1,307.47 by 1 PM.
- Hourly highs since 2 PM: 1,336.7, 1,332.3, 1,322.9, 1,322.1. Last about 1,318.
- 24h turnover about 1.69M USDT; open interest about 8K contracts (~106K USDT).
Bias: SHORT below 1,323
Lower hourly highs keep the pressure down toward the 1,307.47 low. Invalidation is a 1h close above 1,337.
Liquidations run on mark price, not last, and pre-IPO books are thin, so keep size small.
Discussed on r/BYDFiCryptoExchange