Key Takeaways
- • Tesla-linked perpetual futures on Hyperliquid retreated to approximately $357 (mark price $356.66, down $3.42 over 24 hours) after an overnight climb toward $380 following Elon Musk's Roadster demonstration.
- • Binance led daily Tesla-linked trading with $564.49 million in turnover per RootData, while Hyperliquid held the largest open interest at approximately $80.12 million versus Binance's $64.96 million.
- • The contracts are independently deployed perpetual markets by trade.xyz that reference one Tesla share, offer up to 20x leverage, and convey no share ownership, earnings claims or redemption rights.
- • Tesla will report third-quarter financial results after market close on Oct. 21, following Q3 deliveries of 486,532 vehicles.
Summary
Tesla-linked perpetual futures retreated to around $357 on Hyperliquid on Oct. 16, reversing an overnight advance toward $380 that followed Elon Musk's presentation of a thruster-equipped Roadster at SpaceX's McGregor test facility in Texas on Oct. 15, according to Reuters and AP reporting cited in the coverage. The Hyperliquid TSLA-USDC contract traded down 0.95% over 24 hours, with roughly $247.8 million in daily volume. Across exchanges tracked by RootData, Tesla-linked markets showed negative 24-hour returns, with Binance's TSLAUSDT contract at $357.26, down 0.85%.
RootData listed $564.49 million in daily Tesla-linked turnover on Binance, compared with $246.64 million on Hyperliquid, $78.35 million on Bitget and $68.46 million on OKX. Hyperliquid led open interest at $80.12 million, ahead of Binance at $64.96 million. Binance showed the tighter quoted spread at 0.0028%, versus 0.0084% on Hyperliquid.
The instrument is a perpetual market deployed independently by trade.xyz, whose specification states it references one Tesla common share quoted in US dollars with leverage of up to 20 times and cross-margin treatment. Hyperliquid's interface warns of low liquidity, high volatility and elevated liquidation risk. The contract grants no share ownership, earnings claims or redemption rights. Trade.xyz previously faced a pricing disruption in July involving its SK Hynix contract, when the mark price fell 18.7% from $1,127.90 to $917.25 and triggered liquidations; the operator agreed to cover eligible losses and said it would review how external venue prices entered its pricing system.
On the underlying equity side, Musk named 2028 as the production target for the redesigned Roadster, which uses cold-gas thrusters, according to AP; Tesla had not announced a price, and its website labels the rocket feature "Not approved for public road use." Reuters noted the target falls eight years after Tesla's original 2020 delivery promise made at the 2017 prototype unveiling. Vehicle engineering chief Lars Moravy claimed zero-to-60 mph acceleration in under one second and a top speed above 230 mph. Tesla's Oct. 2 release reported Q3 deliveries of 486,532 vehicles against production of 464,391 and energy-storage deployments of 13.7 GWh. Tesla will report results after market close on Oct. 21, with a webcast at 5:30 p.m. Eastern Time.
RootData listed $564.49 million in daily Tesla-linked turnover on Binance, compared with $246.64 million on Hyperliquid, $78.35 million on Bitget and $68.46 million on OKX. Hyperliquid led open interest at $80.12 million, ahead of Binance at $64.96 million. Binance showed the tighter quoted spread at 0.0028%, versus 0.0084% on Hyperliquid.
The instrument is a perpetual market deployed independently by trade.xyz, whose specification states it references one Tesla common share quoted in US dollars with leverage of up to 20 times and cross-margin treatment. Hyperliquid's interface warns of low liquidity, high volatility and elevated liquidation risk. The contract grants no share ownership, earnings claims or redemption rights. Trade.xyz previously faced a pricing disruption in July involving its SK Hynix contract, when the mark price fell 18.7% from $1,127.90 to $917.25 and triggered liquidations; the operator agreed to cover eligible losses and said it would review how external venue prices entered its pricing system.
On the underlying equity side, Musk named 2028 as the production target for the redesigned Roadster, which uses cold-gas thrusters, according to AP; Tesla had not announced a price, and its website labels the rocket feature "Not approved for public road use." Reuters noted the target falls eight years after Tesla's original 2020 delivery promise made at the 2017 prototype unveiling. Vehicle engineering chief Lars Moravy claimed zero-to-60 mph acceleration in under one second and a top speed above 230 mph. Tesla's Oct. 2 release reported Q3 deliveries of 486,532 vehicles against production of 464,391 and energy-storage deployments of 13.7 GWh. Tesla will report results after market close on Oct. 21, with a webcast at 5:30 p.m. Eastern Time.
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