The largest short position on-chain has paid $3.96 million in funding fees for shorting, with a daily fee rate costing up to $460,000.

BlockBeats News, August 18th, according to on-chain analyst Ai (@ai_9684xtpa), the largest short address of ChainXin (CXMT) has already paid $3.96 million in short position funding fees, currently holding a $24.77 million short position, estimated to pay $460,000 in daily funding fees, with a total unrealized loss of nearly tens of millions of dollars.

If the price of ChainXin remains flat and the funding rate stays the same, its margin of over $20 million will be almost depleted in about 45.5 days. Its liquidation price is $15.466.