Position size of $19.024 million, a whale's SK Hynix Korea-US spread trade loses $275,200 over 40 days

Odaily reports that a whale currently holds a paired spread position of approximately $19.024 million in SK Hynix Korea-US spread, going long on the Korean common stock mapping SKHX and shorting the US ADR mapping SKHY, expecting the spread to converge. After holding the position for about 40 days, the spread did not revert but instead widened, resulting in a combined unrealized loss of approximately $275,200 across both legs.

Among them, the SKHX long position is worth approximately $9.347 million, with an average entry price of $1,307.1, currently showing a loss of approximately $446,000; the SKHY short position is worth approximately $9.676 million, with an average entry price of $179.4, currently showing a profit of approximately $171,000. As of press time, SKHY's premium over SKHX is approximately 41.31%, widening by about 4.1 percentage points from the 37.2% at the time of the address's entry.

Since the position was opened, the address has paid a cumulative net funding fee of approximately $94,100 across both sides, with approximately $16,100 spent in the last 24 hours. Based on the current position and dynamic rates, the portfolio still needs to pay approximately $1,106 per hour in net funding fees on a static basis.