An address identified as the largest on-chain short on ChangXin Memory Technologies, or CXMT, has already paid $3.96 million in funding fees, according to monitoring data cited by on-chain analyst Ai Yi (@ai_9684xtpa) on Aug. 18. The position currently stands at $24.77 million in shorts, with estimated daily funding payments reaching about $460,000. Ai Yi said the address is also sitting on a floating loss close to $10 million.
Based on the same calculation, if CXMT shares continue to trade sideways and the funding rate does not change, the trader’s margin of more than $20 million could be fully depleted in about 45.5 days. The reported liquidation price for the position is $15.466. The figures were shared by BlockBeats in a brief market update.
BlockBeats reported on Aug. 18 that the largest on-chain short address in ChangXin Memory Technologies (CXMT) has paid $3.96 million in funding fees, citing monitoring by on-chain analyst Ai Yi (@ai_9684xtpa).
The address is currently holding a $24.77 million short position. Estimated daily funding payments are about $460,000, and the position’s floating loss is close to $10 million.
Ai Yi estimated that if CXMT shares remain flat and the funding rate stays unchanged, the trader’s margin of more than $20 million could be exhausted in about 45.5 days. The liquidation price was put at $15.466.
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