Trade.xyz SK Hynix funding rate hits 907.74% annualized as open interest reaches $834 million

SK Hynix-linked derivatives showed extreme and uneven positioning across venues on July 13-14. On trade.xyz, the platform’s mainstream SK Hynix contract posted a 907.74% annualized funding rate with $834 million in open interest, while a U.S. stock-linked SK Hynix contract showed a -143.74% annualized funding rate and $88.77 million in open interest. Binance data reflected aggressive bullish positioning, with funding cited at 547.5% annualized in one report and at 0.5% per eight hours during July 14 trading. On Hyperliquid, SK Hynix-related contracts SKHX and SKHY became the platform’s most active assets, surpassing BTC with $1.836 billion in combined 24-hour volume. SKHX briefly fell below $1,200 intraday on July 14 before rebounding to around $1,299.5; Hyperinsight said the dip drew concentrated buying. SKHX recorded $1.63 billion in volume and $635 million in open interest, while SKHY posted $206 million in volume and $101 million in open interest, with SKHY trading at about a 26% premium to SKHX. Hyperliquid address 0x803 was reported holding 1,500 SKHX long contracts at 10x isolated leverage, a $1.949 million notional position showing about $174,300 in unrealized profit after the rebound.