Fubo Shorts Face a 1,700% Borrow Spike and a Rare Negative Rebate Setup Into FINRA Reporting Tomorrow

The current setup in Fubo has moved into a statistical anomaly that will resolve itself one way or another. Looking at the data over the last 548 days, we’re seeing a shift that effectively hasn’t happened for this stock until right now. Over the last 18 months, the cost to borrow Fubo has averaged 0.46%. In the last 48 hours, that fee has moved to as high as 8.49%, a 1,745%+ increase from the historical baseline.

The math for those holding short positions gets even more interesting when you look at the rebate. In over 500 days of tracking, yesterday and today are the only two days where the rebate has turned negative, hitting a low of -4.86%. This means shorts are not just carrying a high borrow fee, they are paying an additional premium to the lender just to hold collateral.

Tomorrow’s FINRA report is a data point worth watching. Because it reflects positions from the March 31 settlement date, it covers the window when the stock was near the $8.66 post split lows on heavy volume red candles. Shorts who opened positions at those levels are now underwater at current prices, all while borrowing costs have increased by 17.5x.