Hyperliquid Trader Hits $19.5M Floating Profit With Massive SOL and ETH Shorts

A high-leverage trader on Hyperliquid has become one of the biggest short-side investors on the site after accumulating over 19.5 million in floating profit through bearish trades on Solana (SOL) and Ethereum (ETH). New analytics released by HyperTracker and Onchain Lens show that the trader is still increasing aggressive short exposure as market conditions shift towards the decisively bearish in major assets.

With an extremely bearish bias and 3.8x total system leverage, the account has now achieved a cumulative PNL of $28 million, with a +273.67% performance of all trades. The trade positions the trader in one of the most lucrative short traders in Hyperliquid during the quarter.

Expanded SOL and ETH Shorts Drive Gains

The Hyperliquid trader has aggressively added to both major positions in the last week:

• ETH short: 259 ETH to 1,204.67 ETH, now valued at $3.23 million.
• SOL short: 438,868,643 to 462,374.2 SOL worth $57.3 million.

The aggregate short amount amounts to $60.5 million with SOL constituting the largest portion of exposure. The SOL short average entry price is $165.54 and live price is much lower at $123.93 giving a profit of $19,240,649, or 502.7% ROE.

Another profit of $275,982 is indicated on ETH short with a return of 196.64%. Both stands well above the liquidation thresholds, where the SOL short liquidation distance is $154.35 and the ETH short liquidation is $14,442.73 giving a good safety buffer despite the high leverage.

All-Time Gains Jump to $27.8M

HyperTracker records indicate that all-time gains of the trader have soared to 27.8M, placing him or her among the high ranking short-side traders of Hyperliquid.

One of the forces that have triggered this performance is the downward movement of key assets in the market. SOL has fallen off dramatically following a robust several-month climb, whereas ETF has failed to sustain itself at levels of psychological resistance. The position of the trader shows that it is optimistic that both the assets still have space to rectify further.

High Volume and Funding Payments Show Intent

The account has driven in cumulative trading volume of $340.8 million indicating active management of the portfolio. Funding payments are the cost of holding these positions, and the SOL short caused a funding payment of -9,515, and ETH short a funding payment of 931.84.

The directional gains have exceeded the cost even though they have been the drag on the SOL trade because of the amount of funding.

Hyperliquid’s Short-Side Leaderboard Gets a New Contender

This trader has been at the top of Hyperliquid performance charts owing to accurate entries, high scaling and a strong belief in downside continuation. Analysts observe that such a high profitability typically reacts to profound knowledge of the liquidity behavior and volatility in the perp market.

The trader is committed to the bearish position as there are no long positions recorded, and the short book is growing, indicating that they are looking at further declines.

As the crypto market is currently in a more volatile stage, everyone will be watching this high-performing Hyperliquid trader to find out whether the winning streak will continue or the market trends reverse against the risky short trade.