The price of Hynix dropped significantly, with a whale in a short position making a floating profit of 8.83 million US dollars, nearly doubling their initial capital.

BlockBeats News, on July 27, Hyperliquid SKHX in Shanghai traded sharply lower after opening at 8 AM GMT+8, reaching a high of $1,250.6 and then dropping to a low of $1,171.8, with a range decline of 6.30%. The latest price is $1,181.9.

According to Hyperinsight monitoring, the large short whale starting with 0xebe currently holds 33,700 SKHX short contracts with 10x leverage, a position valued at about $39.9 million, entry price at $1,317.1, unrealized profit around $4.5638 million, a return rate of 102.65%, and liquidation price of $1,938.6.

Aside from the current unrealized gains, the whale had previously locked in about $2.9972 million in profit by closing positions in batches. Meanwhile, during the holding period, he accumulated around $1.2672 million in funding fees; the single funding fee income is equivalent to 28.5% of the theoretical principal of the remaining position.

According to Hyperliquid data, the current hourly SKHX funding fee rate is about 0.0215%. If the rate and position size remain unchanged, the whale can still earn around $8,550 in funding fees every hour.

Combining current unrealized profits, historically realized profits, and funding fee income, the whale’s total gross profit from this round of SKHX shorts has reached about $8.8282 million.

Calculated at 10x leverage, the theoretical margin for the current position is about $4.4458 million. Of this, the current unrealized profit and funding fees together total about $5.8310 million, reaching 1.31 times the initial margin. Including previously realized profits, the cumulative gross profit is about 1.99 times of the theoretical entry principal.

The whale’s initial capital input was much lower than the current position size. On the evening of June 24, he first opened SKHX shorts, with a total short position of 131.243 contracts and a transaction value of about $225,500; calculated at 10x leverage, only about $22,500 in margin was needed to establish the base position. The address continued to increase exposure, and between 8:00 to 9:24 AM today (UTC+8), added 620.5 short contracts at an average price of $1,207.7, for a transaction value of about $749,500.