CXMT Whale Faces Approximately $7.4 Million Loss on Short Position

A single address established a short position of approximately $22.86 million the day before CXMT went public, and has held the position for nearly half a month without closing it. During this period, due to the firm price, the contract position incurred about $3.4 million in funding fees, combined with approximately $4 million in floating losses, bringing the total loss to about $7.4 million. Based on an average short price of about $6.5, even if the price subsequently falls back to the opening position, the continuously accumulating funding fees will still result in a significant actual loss.

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