How to Trade the Seven US Stock Perpetuals Phemex Listed at 10x on 20 September

Phemex listed seven US stock perpetuals at 10:00 UTC on Sunday 20 September 2026, a day when the NYSE trading calendar runs no session at all. All seven came in at 10x with an eight-hour funding interval, and each one closed its first bar 14 hours later.

The calendar decides what those numbers mean. A daily bar that opens at 10:00 UTC and closes at 00:00 UTC covers 14 hours, so the first mark on each contract had no cash session standing behind it. Combined turnover across all seven came to $126,967 on that bar, and Hut 8 alone took $78,085 of it.

What Are the Seven US Stock Perpetuals Phemex Listed on 20 September?

Four of the seven come from the compute and mining side of the US market. HUT is Hut 8 and APLD is Applied Digital, two data-centre operators with bitcoin in the accounts. CYPH is Cypherpunk Technologies and AGPU is Axe Compute, which rents out GPU capacity. The other three are ordinary large-cap equities, and they are Arista Networks under ANET, UiPath under PATH and AMC Entertainment under AMC. A stock perpetual futures contract has no expiry date, so its price runs continuously while the shares behind it do not.

Method: every term here comes from the product fields in the Phemex API snapshot of 21 September 2026, never from the contract description. Those fields read status Listed and maxLeverage 10 on all seven. The listTime value of 1789898400000 converts to 10:00 UTC on 20 September 2026, and fundingInterval reads 28800 seconds. Phemex's announcement page for each new futures listing names the contract and the date, and the AMCUSDT listing announcement is the one for AMC.

The terms are identical across the group. Maximum leverage reads 10, the funding interval reads 28,800 seconds, and the minimum order value reads 1 USDT. That puts them in the same shape as the rest of the board, and what TradFi futures are covers the product these seven belong to.

Why the First Daily Bar on These Stock Perps Is 14 Hours, Not 24

A Phemex daily bar closes at 00:00 UTC. The seven opened for trading at 10:00 UTC, so their first bar covers 14 hours while every bar after it covers the full 24. That matters for any average a charting tool tries to draw, because the first input is not the same size as the ones that follow it.

The NYSE trading calendar runs a core session from 9:30 to 16:00 Eastern time on weekdays and lists no Sunday hours. The opening mark on each of the seven was therefore set with the shares behind it untraded since Friday. Which TradFi perpetuals move when the US market is closed measured that gap across the wider board.

Funding runs on a 28,800-second clock, or eight hours, so the 14-hour bar covers one complete funding period and three quarters of the next.

What the One-Bar Zero Percent on a Stock Perpetual Really Means

The board prints 0.00 percent against all seven, and that figure is the absence of a move, not a flat session. A close-to-close return needs two closes, and each of these series holds exactly one. Inside the single bar the seven ran from -0.96 percent on AGPU to +3.79 percent on CYPH, measured open to close. Every one of those readings is a weekend mark taken while the underlying shares sat still.

The AMC perpetual contract never traded below its first mark, because its low of 2.697 matched its open to the tick. PATH did the reverse, with a high of 13.65 that matched its open and a bar that never printed above it. PATH also ran the tightest band of the seven at 1.17 percent of its open, against 4.84 percent on CYPH.

How to Trade Stock Perps With No Session Behind the Mark

You can trade stock perps at 10x on the day they list, and the leverage tells you nothing about how much price history stands behind them. Fifty of the 69 Listed TradFi perpetuals on the board cap at 10x, so these seven came in on the board's ordinary tier.

What you can't do is anchor the trade on a level. There is no 50-day average, no 200-day average and no prior close to reference, so every entry is a bet on the next print. How a perpetual futures contract works covers the funding mechanic that carries a position across a weekend while the shares behind it are untraded.

Size it on the only range you can measure. That 14-hour band ran 1.17 percent at its tightest and 4.84 percent at its widest across the seven, and a trader who sizes a 10x position off a wider assumption is guessing at a number the tape has not produced yet.

Who Traded the Seven, and How Little Money Moved

Combined turnover across the seven on that bar came to $126,967. Hut 8 perpetual futures took $78,085 of that, or 61.5 percent, and the other six split the remaining $48,882 between them. That $78,085 ranks 28th of the 69 Listed TradFi perpetuals carrying a 20 September bar. It beat NVDA at $25,795 and GOOGL at $22,601 on the same bar, and it cleared AAPL at $6,098 by more than twelve times. One contract carried the listing and the other six barely registered.

A combined $126,967 is small money for seven contracts, and it is the honest scale of a Sunday listing. Phemex pre-market perpetual futures run the same shape on names with no listed share behind them at all, and a first day there tells you the same thing a first day here does.

What You Can and Cannot Compute From a Single Stock Perpetual Bar

Each of the seven has an open, a high, a low and a close. Base volume and turnover come with it, and that is the complete set. What does not exist is any average, any cross or any close-to-close return. A 50-day mean needs 50 bars and these carry one apiece, so a tool that draws you a line across them is drawing a line across nothing.

No forecast belongs on any of the seven either. A price target needs a distribution of past returns to stand on, and one 14-hour bar gives you no distribution at all. How NBIS prices while its cash market is shut runs the same question on a contract with 116 bars behind it, which is the point at which the question becomes answerable.

The calendar is the part you can plan around. The first full 24-hour daily bar on these contracts runs 21 September 2026, and the first weekday cash session under the same seven names is Monday 21 September 2026.

Frequently Asked Questions

What is the tick size on the seven US stock perpetuals?

CYPH and AMC quote in increments of 0.001 and the other five quote in increments of 0.01. The tickSize field carries it, and it sets the smallest price change each contract can print.

What is the smallest position you can open on them?

The minimum order value field reads 1 USDT on all seven and the quantity step reads 0.01 of a contract. Both values are identical across the group, so the cheapest test order on ANET at 200.83 costs far more than the cheapest one on AMC at 2.706.

Do all Phemex stock perpetuals fund every eight hours?

They do not all run on the same clock. 53 of the 69 Listed TradFi perpetuals use the same 28,800-second interval as these seven, and the other 16 fund every 14,400 seconds, or four hours. The interval is a per-contract field, so read it before you carry a position overnight.

How much open interest can each of these contracts carry?

The maxOI field reads 1,000,000 on every one of the seven. That ceiling is set by the venue and it is identical across the group, so it tells you nothing about demand for any single name.

Bottom Line

The seven landed on the board with the same terms as everything around them, and the terms are the least interesting thing about them. NVDA carries 228 daily bars and AAPL carries 228, and these carry one apiece, so what separates them from the rest of the board is a calendar and nothing else.

Trade the calendar.

The 20 September mark is a weekend price with no cash session standing behind it, and the Monday 21 September session is the first time the shares themselves get a vote on the number. Anyone who treats that first print as a level is treating a 14-hour sample as a chart.

Disclaimer: This article is for informational purposes only and is not financial advice. Cryptocurrency trading involves substantial risk. Always do your own research before making investment decisions.