Odaily Planet Daily report: According to Hyperinsight monitoring, the storage trio and U.S. stock indices rebounded in tandem today, but funding rates for SKHX, SNDK, MU, S&P 500, and XYZ100 have all turned negative.
On an hourly rate basis, the 8-hour funding rates for SKHX, SNDK, and MU are -0.2544%, -0.0242%, and -0.0032%, respectively; for the S&P 500 and XYZ100, they are -0.0139% and -0.0075%, respectively.
Within the open interest structure, the combined notional value of open contracts for the three major players decreased from $1.022 billion to $853 million, a reduction of approximately $170 million, or 16.6%. Among these, SKHX contracted by 29.5%; measured by contract volume, open interest for SKHX, SNDK, and MU declined by 39.3%, 5.3%, and 4.2%, respectively.
In comparison, the combined notional exposure of the S&P 500 and XYZ100 increased from $752 million to $781 million, a 3.9% rise; the number of contracts increased by approximately 1.0% and 6.6%, respectively. With rising indices, increased open interest, and negative fees, the addition of short positions has become more pronounced.
SKHX continues deleveraging: 43 million-dollar-level SKHX long positions collectively reduced their holdings by approximately $175 million, with 34 addresses fully closing their positions; net long reduction amounted to about $117 million. Across all five assets, million-dollar-level addresses net reduced longs by approximately $161 million and net reduced shorts by approximately $271 million over the past 24 hours.