A swing trader with wallet 0x5d2 earned a total profit of $12.5 million (realized and unrealized) from a Short BTC position held for two months, with funding fees alone amounting to $9.6 million.
Data recorded through on-chain monitoring shows that unusually long short BTC holding times can create significant spreads from funding fees, in addition to the position's PnL.
- Wallet 0x5d2 earned a total profit of $12.5 million from Short BTC for 2 months.
- Funding fees from a single transaction reached $9.6 million due to the very long holding period.
- The trader also holds $3.5 million worth of BTCB on the BNB Chain.
Short BTC trade for 2 months generated significant profits.
A swing trader (0x5d2) is recorded as having achieved a total profit of $12.5 million, including both closed and open positions, from a Short BTC position held for 2 months.
According to the tracking data, profits are calculated as a combination of realized and unrealized gains, reflecting the performance of the order even before full settlement. Notably, the holding period for Short BTC positions is up to 2 months, longer than typical scalping strategies.
The focus of this transaction lies in funding fees: the funding fees incurred from a single order alone reached $9.6 million. This figure demonstrates that funding can become a significant source of revenue (or expense) when a position is maintained over a long period, depending on the funding mechanism of the Derivative market.
Related categories on BNB Chain
In addition to his Derivative position, trader 0x5d2 also holds $3.5 million worth of BTCB on the BNB Chain.
BTCB is an asset on the BNB Chain used to track BTC price fluctuations within this ecosystem. Simultaneously holding a long-term Short BTC position and $3.5 million worth of BTCB could indicate a multi- chain portfolio structure, or a strategy of allocating assets to meet liquidation, collateral, or hedging needs within the BNB Chain ecosystem.
