UAL/USDT stock perp live on MEXC: United Airlines

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

What it is: a USDT-margined perpetual tracking United Airlines, the US carrier. No expiry, settled in USDT, contract size 0.001 UAL, up to 20x, fees 0% maker / 0.02% taker. MEXC opened it at 8:56 AM ET on Oct 22.

Structure at 5:00 PM ET: last 97.79, index 97.97, fair price 97.80, down 0.67%. Range 96.42 to 102.71. Price held about 102 overnight, then sold off into the cash open to 96.42. The bounce stalled near 98.5, and the falling 60 period average sits above at about 99.8.

Liquidity: about 103K USDT of 24h turnover and about 122K USDT open interest.

Funding: -0.02% per 8h. Shorts pay longs, which is the main cost of this view and a sign the short side is crowded.

Bias: SHORT. A breakdown with a weak bounce under falling averages favors a retest of 96.42. Invalidation is a 15m close above 98.60, the bounce high.

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: SHORT, broke 102, bounce capped under the falling 60 MA. Invalidation: 15m close above 98.60. NFA