The position was built across multiple exchanges last Thursday, with the trader saying public monitoring disrupted plans to unwind after SK Hynix listed in the U.S.
A trader using the handle @yixie10 said a roughly $50 million arbitrage trade in SK Hynix perpetual futures (crypto-style contracts with no expiry) shifted from profit to a 20% floating loss after the position was publicly tracked and the planned exit was halted. The trader said the contracts were accumulated across multiple exchanges last Thursday and were intended to be sold after SK Hynix listed in the U.S. stock market. The account framed the episode as a costly lesson about visibility and execution risk when large cross-venue positions are exposed before they can be unwound.