SPGI/USDT stock perp live on MEXC: S&P Global

SPGI/USDT on MEXC, a quick read for traders.

What it is: a USDT-margined perpetual tracking S&P Global, the ratings, index and market data group. No expiry, settled in USDT, contract size 0.0001 SPGI, up to 20x, fees 0% maker / 0.02% taker. MEXC opened it at 9:00 AM ET on Oct 22.

Structure at 5:00 PM ET: last 449.11, index 450.01, fair price 449.97, down 0.13%. Range 412.98 to 453.52. A thin-book wick to 412.98 early this morning was bought back within the hour, and price has held a tight band around 448 to 451 since.

Liquidity: about 109K USDT of 24h turnover and about 53K USDT open interest, a thin book that explains the wick.

Funding: +0.0069% per 8h, mildly positive.

Bias: LONG. The rejected wick and a stable band near index favor a push toward 453.52. Invalidation is a 15m close under 446, the bottom of the band.

Risk: the cash market is closed, so after-hours flow is thin and the price can gap at the next open. Liquidation runs off fair price, not last trade. Use limit orders, isolated margin and small size.

NFA

Bias: LONG, the 412.98 wick was bought back and price holds 448. Invalidation: 15m close under 446. NFA