What's the point of the fees? Haha. At the top margin, $river's short position roughly incurs a funding fee of 5M per day, far exceeding the costs of spot market manipulation and positioning. Moreover, after a few times at the top margin, the timeframe will change from 4 hours to 1 hour, which makes the cash flow very scary.

$RIVER The dog fund is trapped in a vicious cycle; without retail investors following, it can't make it to the gainers list. When it pulls up, it's still met with no interest, and when it sells off, it plummets. Not selling leads to staggering costs. The worst paths have been fully walked by the dog fund. There are always people saying things like 'eating up the capital costs', with such a large long-short ratio, what is the capital costs for? Pulling it up so high and still having to fluctuate repeatedly, those trading in segments can drain it dry. In summary, the dog fund's self-destruction has left it with no way out; reaching a hundred is just the explosion point for the last few hundred thousand short positions. For the losses of the dog fund, it is just a drop in the bucket. Besides a little profit from the final waterfall sell-off, it has basically lost everything.