Bitget UEX Perpetuals Show Strong Liquidity Conditions

Block Scholes, a digital-asset analytics firm, has released a report detailing liquidity conditions in Bitget's Universal Exchange (UEX) tokenized equity and gold perpetual markets. The study measured order-book depth, spreads, and slippage across four USDT-margined perpetual contracts that track the price of traditional assets.

The contracts include gold (XAU-USDT), the SPDR S&P 500 ETF (SPY-USDT), Nvidia stock (NVDA-USDT), and the Invesco QQQ Nasdaq-100 ETF (QQQ-USDT). Block Scholes found that resting liquidity on Bitget's Nvidia-tracking contract reached roughly three-quarters of the depth available on Bitget's own BTC/USDT spot market by mid-May 2026.

The report also examined how liquidity behaves outside regular trading hours. Trading volume fell substantially on weekends, but median bid-ask spreads stayed close to their weekday levels across the full week sampled. Spreads widened briefly during acute market stress, such as the February 28, 2026 announcement of U.S. strikes against Iran.

Block Scholes calculated bid-ask spread as the gap between the best bid and best ask divided by the mid-price, and modeled slippage by walking the visible order book for market orders of specified sizes.