CXMT's long funding fee expected annualized return hits 2130%, with one whale netting $740,000 in a single day.

Hyperinsight data shows CXMT’s current hourly funding rate has fallen to -0.2430%. Static calculation at the current rate gives a simple annualized yield of roughly 2129%. For a $10,000 position, short sellers pay ~$24.3 hourly, while long positions earn an equal amount; if the rate holds for 24 hours, total funding fees would hit ~$583.3. The largest CXMT long address starting with 0x9a8 is the key beneficiary of this round of negative rates. Records indicate the address has completed 183 CXMT funding fee settlements since the morning of July 15, generating cumulative net income of ~$991,400, a 45.9% return on its position principal. The whale currently holds a 5x isolated long position of 1.6332 million CXMT, worth ~$12.742 million, with an average entry price of $6.6156. CXMT trades at $7.80, delivering ~$1.938 million in unrealized profit (89.7%) on the position, and has a liquidation price of just $0.507. Based on the current position and static -0.2430% rate, the whale will earn ~$31,000 in funding fees in the next hour; if the rate stays for 24 consecutive hours, that would be ~$743,000. As of press time, CXMT is at $7.8020, up ~5.13% in 24 hours, with a trading volume of ~$17.277 million and open interest of ~$76.9 million. Its oracle price is ~$8.1941, with the contract still trading at a 4.79% discount, as short position demand continues to drive up funding fee income for longs. The whale has placed 7 non-reduce-only buy orders between $6.01 and $6.41, planning to buy an additional 98,000 CXMT (notional value ~$609,000) and has not yet opted to close its existing long position.