Whale 22 Days Hyperliquid Derivatives Trading Record: Strategy Review with Over $9.9 Million Profit

A whale account hidden on the chain (0x94d…814) has recently made a series of trading moves that once again flood the market. This whale executed a precise short-term trading case on the derivatives platform Hyperliquid, achieving nearly ten million USD in profit over 22 days of high-frequency trading. What trading logic is hidden behind this?

The Lucrative Performance of Short-term High-frequency Trading

According to on-chain analyst Yu Yan’s monitoring, this whale recently sold 255 BTC (worth $21.77 million at the time) on Hyperliquid at an approximate price of $85,378, then used this capital for high-frequency position building. In just 22 days, the whale completed 69 trades with a success rate of 62%, ultimately earning $9.9 million in profit.

What does this number mean? Simply put, this whale used an initial capital of $21.77 million to earn a 45% return through precise long and short switching and risk control. In the brutal competition of the derivatives market, such a performance is already excellent.

Current Position Size Sets New Records

Trading profits continue to accumulate, and this whale has not stopped. According to the latest data, the whale has been continuously long in the past two days, currently holding long positions worth $310 million across multiple mainstream cryptocurrencies:

• 1,699 BTC ($154 million), average entry price $90,801
• 33,000 ETH ($102 million), average entry price $3,099
• 336,000 SOL ($45.83 million), average entry price $138.6
• 3,777,000 XRP ($7.91 million), average entry price $2.13

It is worth noting that this whale’s choice of long assets highly overlaps with another whale holding $788 million in long positions. The combined holdings of these two whales reach $1.1 billion, accounting for one-third of the total long positions on the Hyperliquid platform. Such market influence is enough to sway market sentiment.

Hidden Risks Behind Large Positions

However, such success stories also come with high risks. Currently, this whale’s holdings are floating at a loss of $1.4 million. Although the paper loss is temporarily manageable, if the market adjusts rapidly, the huge position could become a double-edged sword. Every move of the whale account can be “seen through” by the market via on-chain data. This transparency is both an advantage and a disadvantage—when the whale needs to close positions, the market often reacts in advance.