Five new positions worth millions each were all opened to buy the dip in SK Hynix, and are now all in the red.

According to Hyperinsight monitoring, SK Hynix’s stock continued to decline after the company released its earnings report this morning. As of press time, SKHX, Hyperliquid’s Korean stock mapping contract for SK Hynix, traded at $969.93, down roughly 11.0% in 24 hours. Less than an hour after the sharp drop, the platform recorded five positions (all long orders) worth over $1 million each—new, reopened or reversed—totaling 8,419.75 SKHX contracts, with a position value of around $8.167 million and a weighted average entry price of $981.15. SKHX has now fallen below the overall cost line of these whales, leaving all five long positions in unrealized losses totaling approximately $95,000. The latest liquidation price stands at $930.62, about 4.1% below the current level. Funding rates show bottom-fishing capital is rushing in: SKHX’s hourly funding rate hit -0.0855% at 7 AM this morning, turned positive immediately after the earnings release, and the current real-time estimate has risen to 0.0373%. Calculated at the current rate, a $1 million long position needs to pay roughly $373 per hour to short sellers. The rapid flip of funding rates to positive signals that long trades after the sharp drop have become significantly crowded, yet prices have yet to stabilize.