【Whale Watching】 Micron ADR Premium Surges to 34.8%, While Long/Short Ratio Indicates Funding Rate Convergence
BlockBeats News, July 16th, according to Hyperinsight Monitoring, as of the time of publication, Samsung SK Hynix ADR (SKHY) on Hyperliquid was priced at $166.31, while Samsung KRX (SKHX) was priced at $1234.10. With each SKHY ADS representing 0.1 shares of the Korean stock, the current ADR premium has expanded to 34.8%.
Previously tracked, two top converging whales are still betting on the spread narrowing. The current bilateral positions total approximately $13.694 million, with a total unrealized loss of about $356,000:
-Address starting with 0xf51: 10x leveraged long 2624.9 SKHX shares, 5x isolated short of 17,038 SKHY shares, with a bilateral scale of approximately $6.073 million and a net unrealized loss of about $517,000;
-Address starting with 0x257: 10x isolated long of 1993.9 SKHX shares, short of 31,025 SKHY shares, with a bilateral scale of approximately $7.621 million and a net unrealized gain of about $161,000.
The funding fee structure has changed from yesterday. The hourly funding rate for SKHX is currently about -0.00706%, and for SKHY, it is about -0.00354%; both are negative values. In a converging portfolio, the long position in SKHX is now charging a fee, while the short position in SKHY continues to pay a fee.
Based on the current positions of both, 0xf517 is now able to earn approximately $128 per hour, temporarily ending the previous "bidirectional backwardation" state. Using TSMC as a reference, TSMC on Hyperliquid is priced at $410.35, with TSMC's Taiwan Stock Exchange (TSE) closing at 2470 New Taiwan Dollars. With an exchange rate of 32.19 NT per USD, and each ADR equivalent to 5 TSE shares, TSMC's ADR premium is about 7.0%, while Samsung's current premium is about five times that.
-HyperInsight Bot is now online. Add @HyperInsightBot to your TG community and set it as an admin (requires message-sending permission enabled) to automatically synchronize on-chain information.
