A Whale Squeezes $4 Million in Shorts into Low-Liquidity JP225, Facing a Daily 10% Loss in Funding Fees

BlockBeats News, August 13th, according to TradingBeats (formerly Hyperinsight) monitoring, the Nikkei 225 Index (JP225) currently has approximately $9.306 million in open interest, with nearly 43% concentrated in the first short position starting with 0xf87. The whale is currently shorting 58.49 contracts of JP225 with 20x leverage, with a position value of about $4 million, an average entry price of 67,557.3 points, and the position is its only holding.

In the past 24 hours, through 481 trades, it continued to open short positions with 35.77 contracts, adding approximately $2.424 million to the short position, expanding the position by about 157%. Meanwhile, the total open interest value of JP225 in the market has increased from about $2.77 million to $9.306 million, a growth of about 236%.

In this round of Open Interest (OI) growth, a significant portion is contributed by the large short position of this address. As more short positions enter, the JP225 mark price has been pushed below the oracle price by about 0.11%, and the hourly funding rate has dropped to -0.0129% at one point.

Based on the current position, the whale needs to pay about $516 per hour, with a daily cost of about $12,400, equivalent to over 90% of its $138.1k margin. JP225 needs to drop by at least around 0.31% daily to cover the funding cost of this position.

Currently, JP225 is trading at 68,393 points, with the position experiencing an unrealized loss of about $4.89k (ROI of approximately -24.7%); the liquidation price is 69,028, which is only about 0.93% away from the current price.