Odaily Planet Daily reports, according to Hyperinsight monitoring, the current hourly funding rate for Changxin has dropped to -0.2430%. A negative rate means short positions pay long positions; at the current rate, the simple annualized yield is approximately 2129%.
With a $10,000 position, short traders pay approximately $24.30 per hour, while long traders receive an equivalent amount; if the rate remains constant for 24 hours, the total funding fee amounts to approximately $583.30.
The largest long position starting with 0x9a8 is the primary beneficiary of the current negative funding rate. Records show that since early July 15, it has completed 183 CXMT funding settlements, accumulating a net income of approximately $991,400, equivalent to a return of about 45.9% on the initial position capital.
This whale is currently holding a 5x isolated long position of 1,633,200 CXMT, with a position value of approximately $12.742 million and an average entry price of $6.6156. CXMT is currently trading at $7.80, resulting in an unrealized profit of approximately $1.938 million (89.7%) and a liquidation price of only $0.507.
Based on the current position and a static fee rate of -0.2430%, this whale is projected to receive approximately $31,000 in funding fees over the next hour; if maintained continuously for 24 hours, this amounts to approximately $743,000.
This whale currently has seven non-"reduce-only" buy orders outstanding between $6.01 and $6.41, planning to purchase an additional 98,000 CXMT, with a notional value of approximately $609,000, and has not yet chosen to realize its existing position.