# On-chain stock futures: SK hynix trades at 0.86% discount to cash close

By Token Post

Canonical URL: https://www.tokenpost.com/news/investing/29945
Published: 2026-10-11T23:40:43.000Z
Updated: 2026-10-11T23:40:43.000Z
Section: Investing

> SK hynix traded 0.86% below its Korean cash close in 24-hour on-chain futures, while Samsung Electronics and Hyundai Motor also showed discounts.

SK hynix traded 0.86% below its Korean regular-session close in 24-hour on-chain markets while the Korean stock market was shut for a fourth day.

As of 8:30 a.m. KST on Oct. 12, the SK hynix perpetual futures contract was quoted at 1,666,515 won. That was 14,485 won below the Korean regular-session close of 1,681,000 won. Samsung Electronics, SK hynix and Hyundai Motor all traded at discounts, with the average gap at -0.32%. With both Korean and U.S. stock markets closed over the weekend, the venue became one of the few live price-discovery channels.

SK hynix: cash close 1,681,000 won, on-chain 1,666,515 won, ▼ 0.86%

Samsung Electronics: cash close 262,000 won, on-chain 261,854 won, ▼ 0.06%

Hyundai Motor: cash close 324,500 won, on-chain 324,373 won, ▼ 0.04%

All three contracts traded below their Korean cash-market closes, pointing to sell-side pressure across major Korean stocks.

SK hynix posted $18.49 million in one-day trading volume and 223,916 contracts in open interest. The figures remain small compared with regular exchange trading, meaning relatively modest orders can move prices. The discount is better read as a gauge of which side was more active during the four-day break, rather than as a direct forecast of the opening price.

The funding rate was equivalent to 69.95% annualized, with short positions paying long positions. Negative funding indicates positioning pressure on the short side even as the contract traded below the cash close.

## Overseas semiconductors moved in the same direction

Among seven overseas semiconductor-related contracts trading around the clock on the same market, five rose. SanDisk showed the largest move at +0.96%. The group did not move uniformly, limiting the case for reading the Korean-stock discount as a broad sector signal.

SanDisk: ▲ 0.96%

Micron: ▲ 0.47%

TSMC: ▲ 0.37%

DRAM Index: ▲ 0.22%

SoftBank: ▲ 0.10%

H100 (NVIDIA GPU): ▲ 0.00%

Kioxia: ▼ 0.02%

Editor’s note: Hyperliquid is a blockchain-based derivatives exchange. Stock perpetual futures listed there are contracts that track individual equities and trade around the clock without expiry. They do not represent ownership of the underlying shares and carry no dividend or voting rights. Long and short positions exchange funding payments to keep contract prices aligned with the underlying asset. The gap is calculated by converting the dollar-denominated contract price into won using the won-dollar rate and comparing it with the Korea Exchange regular-session close. Because these prices form after the cash market closes, they can be used as an indicator of pre-open supply and demand.