# NEAR Whale Shifts Futures Long Into Spot While Maintaining Exposure

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24778
Published: 2026-09-28T07:14:11.000Z
Updated: 2026-09-28T07:14:11.000Z
Section: Investing

> Wallet 0x089f is converting a 1x futures long into spot NEAR while keeping combined exposure near 1.1832 million tokens.

A wallet identified as 0x089f is converting a NEAR futures long into spot holdings while keeping its combined exposure near 1.1832 million NEAR.

The wallet held a long NEAR futures position of about 1.1834 million NEAR on Sept. 23, with an average entry price of $4.468. The earliest visible leverage setting was 1x.

Starting Sept. 25, the wallet carried out multiple futures-to-spot transactions. It began a 24-hour time-weighted average price (TWAP) plan for 400,000 NEAR on Sept. 28.

The plan was about 53% complete, leaving roughly 188,000 NEAR to be executed. The wallet held about 738,700 NEAR in spot assets valued at $3.8008 million. Its remaining futures position was worth $2.2877 million and had an unrealized profit of $301,800.

Combined spot and futures exposure stood at about 1.1832 million NEAR, close to the earlier position size. The wallet had paid about $12,300 in cumulative net funding fees on its NEAR futures position.

The shift may have been intended to reduce ongoing funding costs while preserving the wallet’s existing bullish exposure. Funding fees are periodic payments between futures traders that help keep contract prices aligned with the underlying asset.

The wallet also held Zcash (ZEC) spot assets valued at about $13.9824 million, with a stated selling range of $1,725 to $1,775.