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Binance trader '予与 m' says SK Hynix perp arbitrage swung to paper loss

Binance trader '予与 m' says SK Hynix perp arbitrage swung to paper loss

The account tracked by Ai Yi led a 3D loss ranking with $2.091 million in unrealized losses, while the trader said a roughly $50 million multi-exchange SK Hynix arbitrage was disrupted during the planned unwind.

Fact Check
Both components of the claim are well corroborated. Ai Yi's own post and multiple secondary outlets (BlockBeats, Odaily, PANews, TradingView, BitMart) confirm the Binance account '予与m' topped the 3D loss ranking with $2.091M (209.1万美元) unrealized loss on SK Hynix perps. Trader @yixie10's own post and PANews confirm the ~$50M multi-exchange SK Hynix arbitrage that was disrupted when he halted his planned TWAP unwind after being publicly monitored, turning floating profit into a ~20% loss. The '$2.091 million' figure in one X-fetch rendered as '$209.1M' is a units-notation artifact; the consistent Chinese-language sources (209.1万美元 = $2.091M) confirm the correct figure. The claim conflates two related but distinct traders in the headline (the '予与m' Binance loss and the '@yixie10' $50M arbitrage), but both underlying facts are accurate.
Summary

Binance futures trader "予与 m," also identified in a post by handle @yixie10, was reported by Odaily citing on-chain analyst Ai Yi as holding the largest unrealized loss on a 3D ranking at $2.091 million. Ai Yi said the account held 7,462.68 SKHX valued at $11.03 million, entered at $1,477.89 with a $1.954 million paper loss, and 25,733.63 SKHY worth $4.045 million, entered at $157.22 with a $137,000 unrealized loss. Separately, the trader said the positions were part of a roughly $50 million SK Hynix perpetual futures arbitrage built across multiple exchanges last Thursday and intended to be sold after SK Hynix listed in the U.S. stock market, but public monitoring disrupted the exit and turned prior gains into about a 20% floating loss. Ai Yi's data indicated the account still had sufficient margin, with liquidation prices at $756 for SKHX and $27.59 for SKHY, suggesting no immediate forced-close risk.

Terms & Concepts
  • perpetual futures: Derivatives contracts with no expiry date.
  • arbitrage: A strategy seeking to profit from price differences between markets or venues.
  • liquidation price: The price at which an exchange may forcibly close a leveraged position if margin is insufficient.