A certain Whale intends to squeeze short positions on HyperLiquid by leveraging funding advantages, causing a distortion in the funding rate and a significant fluctuation in coin prices.

GateUser-6433627c · 2025-11-25T10:42:01+00:00

On November 25, a Whale deposited 32 million USDC into HyperLiquid, using TWAP to sweep HYPE and short selling, intending to squeeze short positions. Their actions caused the funding rate to briefly rise to -800%, and the Spot premium also pumped. Ultimately, the Whale market sold short 100,000 HYPE, causing the HYPE price to fall by 4%, significantly reducing the remaining short positions.

GateUser-6433627c

2025-11-25 10:42:01

Abstract generation in progress

On November 25, according to MLM monitoring, a certain Whale deposited 32 million USDC into HyperLiquid, using TWAP to sweep the Spot HYPE, intending to squeeze large short positions (about 5% from the liquidation price). Within 15 minutes, he bought 14.5 million USD worth of HYPE. At the same time, he placed 7.05 million USD worth of short orders in the range of 34.5 to 36 USD, trying to lure shorts to be squeezed. Subsequently, traders opened short positions against his buy orders, and the funding rate briefly surged to over -800%, causing a Spot premium of 0.4 USD. The Whale then shorted 100,000 HYPE (3.3 million USD) at market price, causing the HYPE price to drop by 4% in a few seconds. The squeezed shorts now have only 727,000 HYPE (24 million USD) in position, down from a previous scale of 2.1 million (67.1 million USD).

HYPE-0,87%

USDC-0,01%

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