SK Hynix's US Stock ADR Trades at a 23.4% Premium to Korean Stock, 2 Whales Expect $14 Million Price Difference to Narrow

BlockBeats News, July 13th, according to Hyperinsight Monitoring, as of the time of writing, the South Korean stock SK Hynix contract on Hyperliquid is currently priced at $1245.4, with a 24-hour trading volume of approximately $1.021 billion; the US stock ADR contract SK Hynix is currently priced at $153.69, with a 24-hour trading volume of approximately $136 million.

With a conversion rate of 10 ADRs to 1 share of Korean common stock, the current equivalent price of SK Hynix on the US side is $1536.9, which is $291.5 higher than SK Hynix, meaning the US stock ADR is trading at a premium of about 23.41% to the Korean stock; conversely, the Korean stock is trading at a discount of about 18.97% to the US stock ADR.

In terms of funding rates, SK Hynix is currently at +0.06132% per hour, with longs paying shorts; SK Hynix on the US side is at -0.00463% per hour, with shorts paying longs, creating a difference of approximately 0.06595 percentage points between the two.

This data indicates that holding a convergence position of "long SK Hynix, short SK Hynix ADR" currently requires paying a high funding rate on both ends; in contrast, although both ends can receive funding rates in the reverse position, the actual expectation is for the premium of the US stock ADR to continue widening.

Nevertheless, there are still two representative convergence transactions in large visible addresses:

Address starting with 0x257: Long 2,500.42 SK Hynix contracts with 10x leverage, with a scale of approximately $3.115 million; simultaneously short 31,031.66 SK Hynix ADR contracts with 10x leverage, with a scale of approximately $4.776 million. The total scale on both sides is approximately $7.891 million, with the current total floating profit at approximately $339,000, making it the largest visible convergence combination.

Address starting with 0xf517: Long 2,145.256 SK Hynix contracts with 10x leverage, while shorting 22,223.39 SK Hynix ADR contracts with 5x leverage, a quantity ratio of approximately 1:10.36, closest to the 1:10 conversion ratio of the ADR. The total scale on both sides is approximately $6.093 million, with the current total floating loss at approximately $389,000.

-The HyperInsight Bot has been launched. Add @HyperInsightBot to your Telegram community and make it an administrator (requires message-sending permission enabled) to automatically sync on-chain information.