The largest short position in CXMT is facing unrealized losses exceeding $6.39 million and may need to pay up to $160,000 in funding fees daily.

Huo Xing Finance reports that on September 23, according to TradingBeats monitoring, the CXMT contract on Hyperliquid rose to $9.0063 this morning, rebounding approximately 14.5% from its low on September 2 and remaining just 1.7% below its all-time high of $9.1654 since listing. Meanwhile, the CXMT funding rate has turned negative again, currently at approximately -0.0269% per hour, equivalent to a simple daily rate of about -0.646%, meaning short positions must again pay higher holding fees to longs. The largest short position (0xf292) holds approximately $25.259 million in short contracts at an average price of $6.505, resulting in an unrealized loss of about $6.391 million. This address has cumulatively paid approximately $5.213 million in funding fees, with approximately $46,000 paid in the past 24 hours. If the current funding rate remains unchanged, this address is projected to pay approximately $6,825 per hour, or about $164,000 per day.