premiumconvergence

$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

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