[Whale Tracking] SK Hynix ADR premium rises to 34.8%, and holding convergence positions now enables net collection of funding fees.

According to Hyperinsight monitoring, as of press time, SK Hynix’s US-listed ADR (SKHY) on Hyperliquid trades at $166.31, while its South Korean-listed stock (SKHX) stands at $1234.10. Calculated based on 0.1 South Korean underlying shares per SKHY ADS, the ADR premium has widened to 34.8%. Two top convergence whales previously tracked are still betting on the spread narrowing, holding a combined bilateral position of ~$13.694 million with a total unrealized loss of ~$356,000: - Address starting with 0xf51: 10x full-position long on 2,624.9 SKHX, 5x isolated short on 17,038 SKHY, bilateral size ~$6.073 million, net unrealized loss ~$517,000; - Address starting with 0x257: 10x isolated long on 1,993.9 SKHX, short on 31,025 SKHY, bilateral size ~$7.621 million, net unrealized profit ~$161,000. The funding fee structure has changed since yesterday. The hourly funding rate for SKHX is now ~-0.00706%, and for SKHY it is ~-0.00354% — both negative. Under the convergence pair, SKHX long positions now earn fees, while SKHY short positions continue to pay fees. Based on current positions, address 0xf517 is now net collecting ~$128 per hour, temporarily ending the earlier "mutual payment" state. Taking TSMC as a reference: TSM on Hyperliquid trades at $410.35, while its Taiwan-listed underlying stock closed at NT$2,470. Calculated at an exchange rate of 1 USD = 32.19 TWD and 5 underlying shares per ADR, TSMC’s ADR premium is ~7.0%, making SK Hynix’s current premium roughly 5 times that. Earlier news: Measuring SK Hynix’s ADR high premium against TSMC, $3.24 million convergence positions still paid mutual funding fees — HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as admin (enable message sending permission) to automatically sync on-chain news.