Parallel USDp (USDP) — price, funding and open interest
USDP/USDT perpetual on HTX · MEXC: price 0.9980, 24h turnover $35K. Updated in real time.
What this is
StablecoinParallel USDp is a dollar stablecoin backed by collateral inside the protocol: a user locks assets and mints dollars against them, as in the older lending protocols. The price holds at one while collateral stays comfortably in excess and the liquidation machinery works. What this shows: for collateralised stablecoins the risk lies not in an issuer but in a sharp fall in collateral — if prices drop faster than liquidations run, the coin loses its backing; what to check is the composition of collateral and its buffer. Here it trades on BingX spot.
Chart
Chart built from data of MEXC
USDP unlocks
No unlock schedule: the whole supply is already in circulation (100 % per CoinGecko).
Net issuance will appear once our supply ledger covers 30 days.
Supply figures are from CoinGecko, updated once a day. We do not take unlock schedules from trackers.
What the data shows
USDP trades at 0.9980. Over 365 days it ranged between 0.9564 and 2.4000; the price now sits in the lower third of that range — 3% of the way from the yearly low to the high.
All-time high is 2.4000 (June 2026); the price is 58% below it now.
24-hour turnover is $35K — percentile 8 for the year: trading is quiet.
The daily range is 0.1% and five-minute NATR is 0.01%. That range is at percentile 36 for the year — an ordinary day for it.
NATR is 0.01% on the minute and 0.02% on the hour — price grinds: the hourly range is barely wider than the minute one.
Traded on 2 venues: HTX, MEXC — the price is cross-checked across several sources.
USDP correlation with Bitcoin over 24 hours is 0.39 — it partly moves with the market.
Over the day +0.11%, over the hour +0.01%, over the last five minutes 0.00% — it moved livelier an hour ago and has since gone quiet.
By turnover it ranks 1721 of 2043 instruments in the screener.
By daily range it ranks 1975 of 2043.
Built from current numbers and the coin's own year of history. Updates with the data.
How USDP behaved before
Tracked since February 2021 — 68 full months. 35 of 68 closed higher, median month +0.0%.
In October the instrument rose 3 times out of 5, median +0.1%.
Best month — July 2022: +3.5%. Worst — December 2023: -3.5%.
Computed from our own minute history, month by month. The past promises nothing — but it shows what is ordinary for this instrument and what is not.
Our observations
KairoRight now USDP is within its usual range: volume, funding and open interest are all unremarkable.
Computed from our own minute history for this coin over a year. Percentile is the share of days the value was below today's. Description only, no forecasts.
What we noticed earlier
Similar instruments
From the same group — stablecoin. They open the same way, with a chart and a breakdown.
Price and movement
Turnover and activity
How to read this
- Funding is a payment between longs and shorts. A positive rate means longs pay shorts: the market is crowded long.
- The rate rank shows how unusual that rate is for this particular coin: 97 means above 97% of the last month, a rare skew. Without the rank the bare number says nothing — every coin has its own normal.
- Open interest is the money sitting in positions that are still open. Rising alongside price means new money entering; rising while price falls means shorts building up.
- The OI rank is measured in contracts rather than dollars: otherwise it would drift up with price alone and claim a record where nothing changed.
- NATR shows how much a coin moves relative to its own price. High NATR with high turnover is where today's action is.