A Whale is going long on BTC with 40x leverage, and the funding fee has reached $1.55 million, exceeding its Holdings principal.

According to BlockBeats news on November 20, monitoring by HyperInsight shows that a certain long-term Whale (0x8af) has opened a BTC long order since March this year, with a current holdings scale of approximately 41.41 million USD. The current average position price is about 111,300 USD, resulting in unrealized losses of 8.71 million USD (-842%). Currently, the settlement of the funding rate has reached 1.55 million USD, exceeding its current holdings of about 1.034 million principal. This Whale's initial Enter a Position price was around 82,000 USD, and it has since continued to rollover. If the funding rate settlement is included, its total losses are equivalent to ten times the current holdings principal. At present, it is the address with the highest floating loss rate among Whales with BTC holdings exceeding 10 million USD on Hyperliquid.