Sudden Finance Report: Funding Rate Flips Negative, 4 Early Longs Liquidate $11 Million

BlockBeats News, August 4th, according to TradingBeats (formerly Hyperinsight) monitoring, Sandisk will release its fourth-quarter and full-year earnings on August 6th at 4:30 AM (Beijing time). As the earnings report approaches and the stock price rises today, large funds on Hyperliquid have chosen to reduce their long positions to mitigate risk.

Among addresses with a current holding value exceeding $1 million, the long/short ratio is 0.75:1; the amount long/short ratio is approximately 0.72:1, with the short position being around $8.517 million higher.

In the past 24 hours, in the large fund positions, the long exposure has decreased by around $3.061 million at the current price. Despite SNDK's continued rebound, the position structure has further tilted towards the short side.

Four early longs collectively reduced their SNDK positions by 8,321.8 shares today, equivalent to around $11.111 million at the current price:

Address starting with 0x1367 opened a new long position of 6,000 shares last night and reduced it by half today;

Address starting with 0x0ad9 reduced its position by 1,935 shares and still holds about $5.193 million in long positions;

Address starting with 0x364a closed all of its 1,700.1 long positions, making a profit of around $0.173 million;

Address starting with 0xdb09 reduced its position by 1,686.8 shares but still retains about $6.228 million in long positions.

Meanwhile, the largest current short position held by address 0xefe is still short 7,503.8 shares of SNDK, with a position value of around $10.015 million, an average entry price of $1311.9. After multiple rounds of trading today, it has added a net 214.1 short positions.

As of the time of this report, the SNDK perpetual contract is priced at $1,334.7, up approximately 8.4% in the last 24 hours, with a trading volume of around $491 million and an open interest value of about $126 million. However, the funding rate has changed from an accumulated approximately +0.0239% in the previous 24 hours to approximately -0.0026% since today.