Whale Tracking: HYPE hedging whale turns one-sided bullish, simultaneously buys $14.2 million worth of spot and derivatives contracts.
44 minutes ago
According to TradingBeats (formerly Hyperinsight) monitoring, the arbitrage whale with the address starting with 0xf17, which had previously been continuously reducing HYPE’s spot-futures hedge positions, has now shifted to directional long positions, pushing its net long exposure on HYPE to around 222,000 coins. In the early hours, the whale first bought 39,700 HYPE spot coins in a concentrated 7-minute window, with a trading volume of roughly $3.251 million at an average price of $81.98. It then opened 136,000 long positions in HYPE perpetual contracts, totaling $11.026 million at an entry average of $81.05. Combined, the two purchases amounted to approximately $14.277 million. As of press time, the whale’s holdings stand at: 86,000 HYPE spot coins worth ~$7.008 million; 10x fully margined long positions of 136,000 HYPE perpetual contracts, valued at ~$11.087 million, with an entry average of $81.05, unrealized profit of ~$61,000, and liquidation price of $38.64. The total value of its HYPE spot and futures positions is ~$18.095 million. Calculated at current prices, the new spot and perpetual longs added yesterday have generated ~$42,000 in temporary unrealized profit. Since August 18, this whale has repeatedly traded HYPE in band long positions, with cumulative profits from closed related transactions reaching ~$320,000. It currently has 100 spot sell orders placed in the $83.5–$110 range, planning to sell 50,000 HYPE coins for a nominal ~$4.837 million, at a weighted average sell price of $96.75, covering ~58.1% of its spot holdings. HYPE is now trading at $81.50, down ~0.9% in 24 hours. Its perpetual futures open interest is ~$2.086 billion, with a trading volume of ~$752 million, spot volume of ~$118 million, and current hourly funding rate of +0.00125%. Prior news: HYPE’s arbitrage space narrowed, funding rate dropped, leading the whale to withdraw $11 million in hedge positions.
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