QUSDT perpetuals up 29.65% in 24 hours: OI notional value rises 94%, breakout at 0.050676 still unconfirmed

Bottom line: This QUSDT rally has been accompanied by higher trading volume and leverage, but the price has pulled back from its intraday high of 0.050676 to around 0.04647, and the latest 4-hour close was only 0.048921, so a breakout is not yet confirmed. The short-term focus is not on chasing the rally, but on whether a new 4-hour close can reclaim 0.050676 and whether 0.041856 holds.

As of 12:26 Beijing time on October 14, 2026, Binance USDⓈ-M QUSDT perpetuals were trading at approximately 0.046685, up 29.652% over 24 hours, with a range of 0.035085–0.050676 and nominal trading volume of approximately 258.8 million USDT. The mark price was approximately 0.046470, and the index price was approximately 0.04639827. The spot interface returned an invalid trading pair, so all data below is for perpetual contracts and should not be interpreted as spot market data.

Based on closed candles, the most recent 4-hour candle from 08:00 to 12:00 Beijing time opened at 0.042123, reached a high of 0.050676, fell to a low of 0.041856, and closed at 0.048921, with nominal trading volume of approximately 71.84 million USDT. The preceding 4-hour candle had trading volume of approximately 20 million USDT, showing a clear increase in volume. However, after this candle closed, the price pulled back to around 0.04647, so follow-through buying after the surge still needs confirmation.

The daily chart also shows a rise on increased volume: the daily candle for October 13, which has closed, opened at 0.030073, reached a high of 0.043459, fell to a low of 0.029520, and closed at 0.042124, with nominal trading volume of approximately 193.3 million USDT. The October 14 daily candle has not yet closed. Although it touched 0.050676 intraday, the intraday high should not be described as a confirmed daily breakout.

Leverage-side indicators are changing more rapidly. Hourly OI readings rose from approximately 359.96 million contracts, with a nominal value of approximately 13.24 million USDT, at 13:00 on October 13 to approximately 525.20 million contracts, with a nominal value of approximately 25.74 million USDT, at 12:00 on October 14. Over roughly 23 hours, the contract count increased by 45.9% and nominal value by 94.5%. From 08:00 to 12:00 Beijing time alone, the contract count rose by approximately 2.7% and nominal value by approximately 24.6%. This indicates that the rally is not simply a price fluctuation: new leveraged participation is significant. However, rising OI also makes both long and short positions more susceptible to liquidation; it does not mean that longs will necessarily profit or that the trend will necessarily continue.

The latest funding rate settlement was positive, at approximately +0.019895% per period, while the current reading is approximately +0.019955% per period. A positive rate means longs pay funding to shorts, and after the rapid price rise, the cost of holding long positions is already substantial. If the price cannot reclaim the high, the combination of positive funding and high OI could make a pullback faster than in a typical spot market.

The next four levels to watch are: 0.050676, the first hurdle for a renewed breakout confirmed by a candle close; 0.048921, the latest 4-hour closing reference; 0.042124, the closing reference for the most recent completed daily candle; and 0.041856, the latest 4-hour low and short-term invalidation level. Only a move back above 0.050676 followed by a new 4-hour close would bring the price closer to a confirmed breakout. A break below 0.041856 would invalidate the current momentum-chasing thesis, and volatility risk should take priority.

Data source: Binance USDⓈ-M Futures public API (24-hour market data, 4-hour and daily candlesticks, OI history, funding rates, mark and index prices). Data timestamp: October 14, 2026, 12:26 Beijing time. This article is for informational purposes only and does not constitute investment advice.