The largest Evergrande short whale on-chain has lost over $3 million in funding fees, with a short position loss of $2.25 million

August 10th, according to Ai Yi's disclosure, the on-chain Whale Long Xinyuan Storage holds a TOP1 Air Force short position with approximately $21.12 million in 1.5x leverage CXMT, entering at a price of around $6.5. The current price has risen to $7.28, resulting in an unrealized loss of about $2.255 million. At the same time, the short position has accumulated funding fees totaling $3.078 million.

The position had previously committed over $40 million in margin, and there is still a significant distance from the liquidation price of $15.466. However, the ongoing accumulation of funding costs is eroding profits. The market speculates that the trader may still be betting on a sharp pullback in CXMT's price to cover the current loss and achieve profitability.