CXMT's largest long holder, wallet 0x9a80, has kept a 5x leveraged position open for about 34 days since July 15, holding 1.531 million CXMT worth about $13.221 million at an average entry price of $6.62, TradingBeats monitoring showed on Aug. 18. The position was carrying about $3.093 million in unrealized profit, while cumulative funding rate payments (periodic transfers between longs and shorts) added about $2.198 million, bringing total profit to about $5.458 million, with roughly 40% of that coming from funding. Based on current margin, the 34-day return was about 269.5%; funding income alone equaled 108.5% of standard margin, or about 95.8% over 30 days. Over the past 30 days, CXMT's hourly funding rate totaled about -17.8%, meaning an unchanged 1x long could have earned a notional 17.82% from funding alone, and the negative rate remained in place at about -0.1023% per hour at publication. Under a static extrapolation, that points to a monthly funding return of about 73.7%. Total CXMT open interest (value of outstanding contracts) stood at about $66.904 million, while the largest short, 0xf292, held about $25.05 million, or 37.4% of open interest, and had cumulatively paid about $3.865 million in funding. In the market's extended negative-funding environment, that short has effectively been paying the broader long side, with 0x9a80 the biggest beneficiary.