Hyperliquid SKHX Short Whale Earns $8.82M in Profits Amid 6.3% Price Decline

Hyperliquid's Shanghai Lishi (SKHX) opened at 8:00 AM Beijing Time and quickly declined, reaching a high of $1,250.60 before dropping to a low of $1,171.80, a range decline of 6.30%; it is currently trading at $1,181.90. According to Hyperinsight monitoring, the whale with wallet address starting with 0xebe currently holds 33,700 SKHX short positions at 10x leverage, with a position value of approximately $39.9 million, an average entry price of $1,317.10, and a current unrealized profit of about $4.5638 million, yielding a return rate of 102.65%. The liquidation price is $1,938.60. In addition to the current unrealized profit, this whale has previously realized approximately $2.9972 million in profits through partial position closures. Meanwhile, during the holding period, the whale has accumulated approximately $1.2672 million in funding fees, which alone equals 28.5% of the theoretical principal of the remaining position. Based on Hyperliquid data, the current hourly funding rate for SKHX is approximately 0.0215%. If the rate and position remain unchanged, this whale continues to earn about $8,550 per hour in funding fees. Combining the current unrealized profit, historical realized profits, and funding fee income, the total gross return from this SKHX short position has reached approximately $8.8282 million. At 10x leverage, the current position corresponds to a theoretical margin of approximately $4.4458 million.