Binance Futures

#NeoCloud is coming back. The 5 Nov sell-off was a sector funding and permitting scare. CoreWeave, Nebius and IREN all hit their lows in the same hour. What has come back is not demand, which never really left, but the way the buildout gets financed. $CRWV ’s Q3 showed customers prepaying about $9B over the next three months, and investment-grade contracts financing most of the related capex. That is why it has already taken out the 4 Nov close, and $IREN , with revenue slipped into 2027, has not. The funding discount is being repaired. The leverage risk is not gone. $NBIS reports before the open on 12 Nov, and will set the tone for the rest of the group. 24/7 pricing made the split easier to see.

~50% of $NVDA volume traded while US markets were closed on perps since last Friday 🔸 Weekend: 96% of the -7.3% Fri-Mon gap priced pre-open 🔸 Weeknight: 91% of the Mon-Tue gap priced overnight 🔸 Within 0.3% of the open both times TradFi-Perps never sleep

@AnthropicAI IPO filing puts pre-IPO perpetuals in focus. Among the major venues, Binance accounts for 47.6% of open interest and 31.0% of cumulative volume since June 2.

High net-worth individuals adopt TradFi fast. 🔸 TradFi Perps: 19.4% vs 1.31% all users (15×) 🔸 bStocks: 8.85% vs 0.35% (25×) 🔸 Direct Equities: 9.11% vs 0.21% (42×) Yet they're just less than 1% of each product's trader base. Early at the top, wide open below.