OKX, a leading global fintech company and crypto trading platform, released trading data showing that approximately 83% of trading volume in its Apple (AAPL) and Amazon (AMZN) futures contracts occurred outside of regular U.S. equity market hours (9:30 a.m.–4:00 p.m. ET) during the companies’ respective quarterly earnings.
The findings suggest that traders are increasingly turning to always-on crypto markets to react to major corporate news the moment it breaks, rather than waiting for the Nasdaq to open, with international traders in particular using the instruments to gain exposure to U.S. earnings events in real time.
Key findings
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83% of combined AAPL and AMZN futures volume traded outside standard U.S. market hours (9:30 a.m.–4:00 p.m. ET) in the hours of midnight-9:30am CEST; 4:00pm-midnight ET window surrounding each earnings release.
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The combined notional volume across both contracts also increased during the measurement window:
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$AAPL saw a +380.9% increase in volume on earnings day vs the previous day, and a +229.9% increase in volume on earnings day vs the previous 7 day average
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$AMZN saw a +331.6% increase in volume on earnings day vs the previous day, and a +9.9% increase in volume on earnings day vs the previous 7 day average
“Earnings don’t wait for the opening bell anymore, and increasingly, neither do traders,” said Erald Ghoos, CEO of OKX Europe. “What we’re seeing with AAPL and AMZN is a clear signal: when Apple or Amazon reports, the market’s reaction starts immediately, and a lot of that price discovery is now happening in Europe, overnight, on 24/7 markets, hours before Wall Street opens. It’s becoming the default for how global traders engage with U.S. corporate news.”
Methodology
Figures are based on OKX’s internal trading data for its EEA-licensed entity on the AAPL-USD-UM-XPERP and AMZN-USD-UM-XPERP expiry futures contracts. Analysis covers the full US trading day (Eastern Time) of each company’s earnings release: Apple’s fiscal Q3 2026 results, released after market close on July 30, 2026; and Amazon’s Q2 2026 results, also released after market close on July 30, 2026. Both dates given in US Eastern Time. Volume for that day is split into two sessions: “market hours” (9:30 a.m.–4:00 p.m. ET) and “outside market hours” (12:00 a.m.–9:30 a.m. and 4:00 p.m.–midnight ET), Monday–Friday. This is compared against each contract’s average daily volume over the seven trading days preceding July 30, 2026 (July 23–29, ET). Regional attribution is based on the account’s compliance entity assignment. Figures reflect notional value in USD, not number of contracts.