Storage Trio and U.S. Indices Rebound, Funding Rates Turn Negative

Hu 火星 Finance reports that on July 31, 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. Based on the current hourly rates, the 8-hour funding rates for SKHX, SNDK, and MU are -0.2544%, -0.0242%, and -0.0032% respectively; for S&P 500 and XYZ100, they are -0.0139% and -0.0075% respectively. In terms of position structure, the combined notional value of open interest for the storage trio 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 contrast, the combined notional value of open interest for S&P 500 and XYZ100 increased from $752 million to $781 million, a rise of 3.9%; contract volumes increased by approximately 1.0% and 6.6% respectively. With indices rising, positions increasing, and funding rates turning negative, the characteristics of new short positions are more pronounced. SKHX continues its deleveraging trend: 43 million-dollar-level SKHX long positions collectively reduced their positions by approximately $175 million, with 34 addresses fully closing their positions, resulting in a net reduction of longs of 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.