Changpeng Zhao’s BYBIT Account now has the highest liquidation risk. It is reported that the daily interest rate on the borrowed position is 0.04%, requiring a daily payment of $1.34 million. If the situation persists for two weeks, Zhao's account may face liquidation.

BlockBeats News, August 17th, according to TradingBeats (formerly Hyperinsight) monitoring, CXMT rose again today, currently trading at $8.38, with a 24-hour increase of about 4.6%, approaching the previous high. The trading volume in the past 24 hours is about $8.226 million; the open interest is about $68.93 million.

At the same time, the hourly funding rate of CXMT has dropped significantly to about -0.2299%, meaning shorts are paying funding to longs. If extrapolated simply:

- The daily funding cost is about 5.52%;

- The simple annualized rate is about 2014%.

The largest short position with an address starting with 0xf29 in CXMT has not retreated. It is currently short with 1x leverage, holding about 2.901 million CXMT, with a position value of about $24.317 million, accounting for approximately 35.3% of the total open interest value of CXMT.

The whale's average entry price is $6.50, currently facing an unrealized loss of about $5.448 million (-28.9%), with a liquidation price of $15.11. According to the official API, the cumulative funding cost since opening the position has reached about $3.638 million; when combined with the current unrealized loss, this CXMT short position has incurred losses of about $9.086 million.

Based on the current position and a -0.2299% hourly funding rate, with a static estimation, even if the CXMT price remains unchanged, the whale is expected to spend about $1.342 million per day. If this continues for about two weeks, the liquidation price will gradually drop from the current $15.11 to near the current price. Eventually, the position may be liquidated solely due to the exhaustion of funding costs.