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$SKHX ADR PREMIUM SURGES TO 27% — WHALES BET $14M ON CONVERGENCE 🔥
The basis between SK Hynix ADR ($SKHY ) and Korean stock ($SKHX ) widened to 27.39% from 23.55% yesterday, with ADR equivalent at $1,513.4 vs spot $1,188. Two addresses are running a massive basis trade: long SKHX, short SKHY, total notional ~$13.7M. One whale is actively rotating, cutting net longs by 86 shares and reopening shorts on 417 SKHY while the other holds firm with a $456K unrealized loss.
Funding adds pressure: SKHX funding is +0.0567% per hour (paying to hold long), SKHY is -0.0056% per hour (paying to hold short). Both sides bleed ~$21K in total funding fees since yesterday. The order book shows a $572K bid wall for SKHX around $1,087–$1,187, suggesting support but no clear catalyst for immediate convergence.
Is the premium compressing fast enough to justify the carry cost, or are these whales betting on a slow bleed?
Not financial advice. Always manage your risk.
#SKHX #BasisTrade #Arbitrage #PremiumConvergence
🔥
The basis between SK Hynix ADR ($SKHY ) and Korean stock ($SKHX ) widened to 27.39% from 23.55% yesterday, with ADR equivalent at $1,513.4 vs spot $1,188. Two addresses are running a massive basis trade: long SKHX, short SKHY, total notional ~$13.7M. One whale is actively rotating, cutting net longs by 86 shares and reopening shorts on 417 SKHY while the other holds firm with a $456K unrealized loss.
Funding adds pressure: SKHX funding is +0.0567% per hour (paying to hold long), SKHY is -0.0056% per hour (paying to hold short). Both sides bleed ~$21K in total funding fees since yesterday. The order book shows a $572K bid wall for SKHX around $1,087–$1,187, suggesting support but no clear catalyst for immediate convergence.
Is the premium compressing fast enough to justify the carry cost, or are these whales betting on a slow bleed?
Not financial advice. Always manage your risk.
#SKHX #BasisTrade #Arbitrage #PremiumConvergence
🔥
TRADER CHEAT SHEET - 5 VENUES 5 PRICES ONE ASSET
BINANCE PERP 65 HIGH LIQ NO LOCK 5X LEV
MEXC SPOT 58 MED LIQ NO LOCK 1X
KRAKEN XSTOCK 35* LOW LIQ 180D 1X
BYBIT XSTOCK 35* LOW LIQ 180D 1X
WALLET IPO SUB 41.75 ZERO LIQ 5-7D 1X
*INDICATIVE PLUS 5% FEE
KEY EDGES
PERP-SPOT BASIS 4-7% ANNUALIZED CARRY SHORT PERP LONG SPOT
WALLET SUB 41.75 VS PERP 65 LOCKED 16% ARB IF TRANSFERABLE
MEXC SPOT LEADS BINANCE PERP BY 2-3 MINS ON NEWS ARB WINDOW
KRAKEN BYBIT XSTOCKS ILLIQUID WIDE SPREADS DONT SIZE THERE
IPO DAY PLAYBOOK LONG MEXC SPOT SHORT BINANCE PERP PRE-OPEN CLOSE ON FIRST PRINT
#SPCXVenueMap #BasisTrade #IPODayPlaybook
BINANCE PERP 65 HIGH LIQ NO LOCK 5X LEV
MEXC SPOT 58 MED LIQ NO LOCK 1X
KRAKEN XSTOCK 35* LOW LIQ 180D 1X
BYBIT XSTOCK 35* LOW LIQ 180D 1X
WALLET IPO SUB 41.75 ZERO LIQ 5-7D 1X
*INDICATIVE PLUS 5% FEE
KEY EDGES
PERP-SPOT BASIS 4-7% ANNUALIZED CARRY SHORT PERP LONG SPOT
WALLET SUB 41.75 VS PERP 65 LOCKED 16% ARB IF TRANSFERABLE
MEXC SPOT LEADS BINANCE PERP BY 2-3 MINS ON NEWS ARB WINDOW
KRAKEN BYBIT XSTOCKS ILLIQUID WIDE SPREADS DONT SIZE THERE
IPO DAY PLAYBOOK LONG MEXC SPOT SHORT BINANCE PERP PRE-OPEN CLOSE ON FIRST PRINT
#SPCXVenueMap #BasisTrade #IPODayPlaybook
$SKHX PREMIUM OVER $SKHY HITS 27.4% – WHALES ACTIVE 🔥
The basis just widened another 3.8% to 27.39% – that's a serious gap between the Hyperliquid token and the ADR. Two whales are running multi-million dollar long-short pairs, but one address just saw unrealized profit shrink by $165,000 overnight while paying $21,200 in funding fees.
Per-hour funding on SKHX is +0.0567% – that adds up fast if the convergence doesn't come soon. The ask wall on SKHX runs deep from $1207 up to $1431. Are you watching the basis trade or staying away?
Not financial advice. Always manage your risk.
#SKHX #SKHY #BasisTrade #Arbitrage #Crypto
🔥
The basis just widened another 3.8% to 27.39% – that's a serious gap between the Hyperliquid token and the ADR. Two whales are running multi-million dollar long-short pairs, but one address just saw unrealized profit shrink by $165,000 overnight while paying $21,200 in funding fees.
Per-hour funding on SKHX is +0.0567% – that adds up fast if the convergence doesn't come soon. The ask wall on SKHX runs deep from $1207 up to $1431. Are you watching the basis trade or staying away?
Not financial advice. Always manage your risk.
#SKHX #SKHY #BasisTrade #Arbitrage #Crypto
🔥
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