Micron Sees Sharp Decline, Short Whale Nets $8.83 Million Profit, Nearly Doubling Initial Investment

July 27th, Hyperliquid Shanghai Leshi (SKHX) quickly dropped after opening at 8:00 AM Beijing time, reaching a high of $1250.6 and subsequently plunging to a low of $1171.8, with a range decline of 6.30%; currently trading at $1181.9.

According to Hyperinsight monitoring, a bear whale starting with 0xebe currently holds 33,700 SKHX short positions with 10x leverage, with a position value of approximately $39.9 million, an average entry price of $1317.1, current unrealized profit of around $4.5638 million, a return rate of 102.65%, and a liquidation price of $1938.6.

In addition to the current unrealized profit, the whale had previously realized profits of about $2.9972 million through partial closing of positions. At the same time, during the holding period, it has accumulated approximately $1.2672 million in funding fees, with the single funding fee income already equivalent to 28.5% of the current remaining position theoretical principal.

According to Hyperliquid data, the current hourly funding rate for SKHX is approximately 0.0215%. If the rate and position remain unchanged, the whale can still receive about $8550 in funding fee income per hour.

Considering the current unrealized profit, historical realized profits, and funding fee income, the whale's total gross profit from this round of SKHX short positions has reached approximately $8.8282 million.

With 10x leverage, the current position corresponds to a theoretical margin of about $4.4458 million. Of this, the total of current unrealized profit and funding fee income is about $5.831 million, which has reached 1.31 times the initial margin; considering previous realized profits, the cumulative gross profit is approximately 1.99 times the theoretical entry capital.

The whale's initial capital investment was far below the current position size. It first entered the SKHX short position on the night of June 24th, accumulating 131.243 shorts on that day, with a trading volume of about $22.55 thousand. Calculated with 10x leverage, it only used about $2.25 thousand as margin to establish the initial position. Subsequently, the address continuously added to the position and from 8:00 to 9:24 today, it averaged an additional 620.5 shorts at $1207.7, with a trading volume of about $74.95 thousand.