$TSLA goes into its report with zero funding on the perpetual and a seventh of its contracts gone.
Six of the seven Mag 7 perpetuals on Binance read exactly 0.0000% funding right now, on an 8-hour interval with a floor and cap of 2%. Only AMZN is off zero, at 0.04% a day. On a crypto perpetual the crowded side pays, and the funding bill is how you measure the crowd. Here that meter reads flat, so positioning has to be read straight from the position data. All figures below taken 05:36 UTC, 21 October.
TSLA is up 3.81% in 24h at 380 USD on 192M USD of turnover. Retail accounts are 69.9% long, the 28th percentile of their own 30-day range, and not one of those 30 days closed under 50%. Top traders by position are 60.4% long. Contracts fell 7.4% over 25 hours, from 153.7k to 142.3k, so the move came with positions leaving rather than arriving. Takers sold more than they bought on all 7 of the last 7 days. The book is close to symmetric, 2.54M USD of bids against 2.55M USD of asks within 1% of mid.
META is down 0.53% in 24h at 701 USD on 67M USD of turnover. Retail accounts are 52.5% long, and that is the 98th percentile of their own 30-day range, after only 11 of the last 30 days above 50%. Top traders are 58.8% long. Contracts fell 2.8% over 25 hours, from 30.3k to 29.5k. Asks within 1% of mid are 2.45M USD against 1.52M USD of bids, the heaviest skew of the two.
On the two angles: a flying Roadster is a 2026 headline, not a line in a 2026 income statement, and Meta's AI spend lands in capex and depreciation long before it lands in revenue per user. Neither is where the risk sits this week. What sits there is a month of one-sided retail positioning that has cost nobody anything to hold, on both names, and a report that prices it.
I hold no position in either and I am not calling a direction. What I will read on the recap is whether open interest rebuilds or keeps draining, and whether funding comes off zero for the first time.
Which of the Mag 7 perps are you watching the funding line on?
$META #EarningsSeason #Market_Update
Six of the seven Mag 7 perpetuals on Binance read exactly 0.0000% funding right now, on an 8-hour interval with a floor and cap of 2%. Only AMZN is off zero, at 0.04% a day. On a crypto perpetual the crowded side pays, and the funding bill is how you measure the crowd. Here that meter reads flat, so positioning has to be read straight from the position data. All figures below taken 05:36 UTC, 21 October.
TSLA is up 3.81% in 24h at 380 USD on 192M USD of turnover. Retail accounts are 69.9% long, the 28th percentile of their own 30-day range, and not one of those 30 days closed under 50%. Top traders by position are 60.4% long. Contracts fell 7.4% over 25 hours, from 153.7k to 142.3k, so the move came with positions leaving rather than arriving. Takers sold more than they bought on all 7 of the last 7 days. The book is close to symmetric, 2.54M USD of bids against 2.55M USD of asks within 1% of mid.
META is down 0.53% in 24h at 701 USD on 67M USD of turnover. Retail accounts are 52.5% long, and that is the 98th percentile of their own 30-day range, after only 11 of the last 30 days above 50%. Top traders are 58.8% long. Contracts fell 2.8% over 25 hours, from 30.3k to 29.5k. Asks within 1% of mid are 2.45M USD against 1.52M USD of bids, the heaviest skew of the two.
On the two angles: a flying Roadster is a 2026 headline, not a line in a 2026 income statement, and Meta's AI spend lands in capex and depreciation long before it lands in revenue per user. Neither is where the risk sits this week. What sits there is a month of one-sided retail positioning that has cost nobody anything to hold, on both names, and a report that prices it.
I hold no position in either and I am not calling a direction. What I will read on the recap is whether open interest rebuilds or keeps draining, and whether funding comes off zero for the first time.
Which of the Mag 7 perps are you watching the funding line on?
$META #EarningsSeason #Market_Update