Odaily Planet Daily reports, according to Hyperinsight monitoring, Changxin Technology is currently trading at $7.73, up approximately 4.15% in the last 24 hours. However, its current hourly funding rate has dropped to -0.2139%, compared to the previous hour’s actual settlement rate of -0.1212%, with the absolute value of the negative rate expanding by 76.5%.
If the current fee rate remains unchanged, holding a $10,000 CXMT short position incurs approximately $21.40 in funding fees per hour, totaling about $171.10 over 8 hours and approximately $513.40 over 24 hours.
Extreme negative funding rates are accompanied by a significant discount. The current mark price of CXMT is $7.73, while the oracle price is approximately $8.02, resulting in a contract discount of about 3.70% relative to the oracle. The 24-hour trading volume is approximately $15.22 million, and the open interest value has reached around $76.03 million, with position size approaching five times the daily trading volume.
CXMT currently has 1,072 long addresses and 823 short addresses, resulting in a long-to-short ratio of approximately 1.3:1; among large holders with positions exceeding $1 million, there are 5 longs and 2 shorts, raising the long-to-short ratio to 2.5:1.
However, based on position value, the long-to-short ratio among large holders is approximately 0.94:1, with short positions still about 6.5% larger than long positions. The weighted entry price for large holder longs is approximately $6.92, while the weighted entry price for shorts is approximately $6.53; both sides are currently in varying degrees of unrealized loss.
Monitoring shows that short positions are concentrated primarily on addresses starting with 0xf29. This address holds a short position of approximately $22.4 million in CXMT at 1x leverage, accounting for nearly 30% of the platform's total CXMT open interest.
The average entry price of this short position is approximately $6.50, with a liquidation price of approximately $15.90, resulting in a current unrealized loss of about $3.52 million; additionally, the total funding fees paid so far amount to approximately $1.72 million.