A cross-platform price gap opened up in SKHYNIX perpetual futures after the sharp sell-off in SK Hynix extended, according to monitoring data cited by BlockBeats from Hyperinsight on July 13. On Binance, the SKHYNIX perpetual contract was quoted at $1,275, down 13.82% over 24 hours. On Hyperliquid, the same contract traded at about $1,261.80, down 14.50% over the same period. That left a transaction-price gap of roughly $13.3, with Binance trading at about a 1.05% premium to Hyperliquid.
The spread was even larger on mark prices. Binance showed a mark price of $1,273.80, while Hyperliquid stood at $1,257.60, widening the gap to $16.20, or about 1.29%. At the same time, the two venues showed nearly identical reference prices: Binance’s index price was $1,240.97 and Hyperliquid’s oracle price was $1,242.00, a difference of just $1.03.
Funding data also pointed to crowded long positioning. Binance’s eight-hour funding rate rose to 0.5%. Hyperliquid’s hourly funding rate was about 0.0698%, which works out to roughly 0.56% over eight hours on a static basis. In both cases, longs were paying shorts.
SKHYNIX futures diverge across venues
BlockBeats reported on July 13, citing Hyperinsight monitoring data, that the sell-off in SK Hynix extended and opened a wider spread between SKHYNIX perpetual contracts on Binance and Hyperliquid. Binance quoted the contract at $1,275, down 13.82% over 24 hours. Hyperliquid showed the contract at about $1,261.80, down 14.50% over the same period. That put the gap at roughly $13.3, with Binance trading at about a 1.05% premium to Hyperliquid.
Mark-price spread is wider than the traded-price gap
Using mark prices, the difference was larger. Binance showed $1,273.80, while Hyperliquid showed $1,257.60, expanding the spread to $16.20, or about 1.29%.
The two platforms were still close on reference pricing. Binance’s index price was $1,240.97, while Hyperliquid’s oracle price was $1,242.00, leaving only a $1.03 difference.
Funding rates point to crowded longs
Funding rates showed longs remained crowded. Binance’s eight-hour funding rate climbed to 0.5%. Hyperliquid’s hourly funding rate was about 0.0698%, or roughly 0.56% over eight hours on a static basis. On both platforms, longs were paying shorts.
The original report also said HyperInsight Bot is now live. Users can add @HyperInsightBot to a Telegram group and set it as an administrator with message-sending permission enabled to automatically sync on-chain updates.
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