Tesla crypto futures retreat to $357 after flying Roadster rally

Tesla-linked perpetual futures have retreated to around $357 on Hyperliquid, reversing an overnight climb toward $380 following Elon Musk’s demonstration of a thruster-equipped Roadster.

Hyperliquid showed its TSLA-USDC contract at a mark price of $356.66, down $3.42 over 24 hours, with approximately $247.8 million in daily trading volume and $80.05 million in open interest, the value of outstanding contracts.

Tesla futures give back their climb toward $380

On Hyperliquid’s 1-hour chart, the Tesla contract rose from around $360 to $380 on Oct. 16 before retreating to approximately $357. The reversal carried the price below the level where the overnight advance began.

The same chart showed the contract trading near $385 earlier in the week before declining toward $360 ahead of Thursday’s Roadster presentation. Friday’s rebound approached $380 but stopped below those earlier highs, according to the displayed price history.

Across the exchanges listed in RootData’s stock-contract comparison, Tesla-linked markets showed negative 24-hour returns. Binance’s TSLAUSDT contract traded at $357.26, down 0.85%, while the displayed declines ranged from 0.84% on OKX to 1.30% on Lighter.

Binance leads turnover as Hyperliquid holds more open positions

RootData listed $564.49 million in daily Tesla-linked trading on Binance, compared with $246.64 million on Hyperliquid. Bitget and OKX followed with $78.35 million and $68.46 million, respectively.

The same table showed $45.95 million in turnover on Bybit and $23.37 million on Lighter.

RootData placed Hyperliquid first with $80.12 million in open interest, ahead of Binance’s $64.96 million, Bitget’s $18.04 million and OKX’s $14.87 million.

RootData listed liquidity within 2% of the quoted price at $6.73 million on Hyperliquid and $4.52 million on Binance. Binance nevertheless showed the narrower quoted spread at 0.0028%, compared with Hyperliquid’s 0.0084%.

Hyperliquid identifies TSLA-USDC as a perpetual market independently deployed by xyz. Trade.xyz’s specification index states that the contract references one Tesla common share quoted in US dollars and permits leverage of up to 20 times.

According to the operator’s specifications, the market uses cross-margin treatment. Hyperliquid’s trading interface warns users about low liquidity, high volatility, and elevated liquidation risk in the independently deployed contract.

The instrument provides price exposure without transferring Tesla stock ownership. A separate Anthropic-linked perpetual contract examined by crypto.news on Oct. 15 similarly granted no shares, company earnings claims or right to redeem positions for equity.

Trade.xyz’s stock-linked markets previously encountered a pricing disruption in July, when the operator agreed to cover eligible liquidation losses involving its SK Hynix contract.

In a statement described in the July 29 coverage, Trade.xyz said multiple independent data providers relayed an executed external-market trade. The contract’s mark price fell 18.7%, from $1,127.90 to $917.25, triggering liquidations of leveraged long positions.

The operator characterized reimbursement as a one-time discretionary decision and said it would review how external venue prices entered its pricing system, according to the same account.

Musk’s Roadster demonstration carries a 2028 production target

At SpaceX’s McGregor test facility in Texas on Oct. 15, Musk presented the redesigned Roadster using technology developed by Tesla and SpaceX engineers, Reuters reported.

AP described cold-gas thrusters and a suction system that enabled short aerial movements and midair spins. Musk named 2028 as the production target, while Tesla had not immediately announced a price, according to the agency.

Tesla’s website labels the rocket feature “Not approved for public road use,” AP reported.

Reuters traced the second-generation Roadster to a prototype unveiled in 2017, when Tesla promised deliveries in 2020. The production target announced on Thursday falls eight years after that original delivery schedule.

During the presentation, Tesla vehicle engineering chief Lars Moravy claimed acceleration from zero to 60 mph in less than one second and a top speed above 230 mph, Reuters reported. The company claimed a driving range exceeding 300 miles.

Tesla earnings follow deliveries of 486,532 vehicles

Tesla’s Oct. 2 operating release reported third-quarter deliveries of 486,532 vehicles against production of 464,391. Model 3 and Model Y accounted for 478,237 deliveries, with 8,295 vehicles listed under other models.

Calculated from Tesla’s figures, deliveries exceeded production by 22,141 vehicles during the quarter. Model 3 and Model Y represented approximately 98.3% of total deliveries.

Tesla reported energy-storage deployments of 13.7 gigawatt-hours over the same period. Its release cautioned that deliveries and storage deployments were only two measures of financial performance, with results dependent on selling prices, costs, foreign-exchange movements and other factors.

The company scheduled its financial results for after market close on Wednesday, Oct. 21, followed by management’s question-and-answer webcast at 5:30 p.m. Eastern Time. Tesla said net income and cash-flow figures would accompany the earnings release.

During the previous quarter, Tesla kept its Bitcoin reserve unchanged at 11,509 BTC, according to July 22 coverage of its shareholder update. The company recorded a $112 million after-tax digital-asset loss without buying or selling Bitcoin during the reporting period.