SKHY / SKHX Premium SK Hynix ADR vs Korean common · 10 ADS = 1 share
HL WS Binance WS REST
Conversion opens —
HYPERLIQUID ADR premium
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BINANCE ADR premium
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Cross-venue gap — · positive premium = ADR rich vs Korean common

Best execution — long KRX common · short ADR

Long leg (common) Short leg (ADR) Spread Carry / day Edge → Jul 29

Short leg receives funding, long leg pays it — ideal is SKHX/SKHYNIX negative and SKHY positive. Carry assumes current funding holds; Edge = spread + carry × days to conversion open. Fees & slippage excluded.

Premium — last 3 days (5m) Hyperliquid Binance

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Who's ahead of you — positioning (Binance)

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