Hyperliquid's two most profitable traders hold $1.06bn in short positions

Key points

• Wallet 0x5b5d holds $618m in shorts across 22 positions, including $225m in ETH and $182m in BTC, on about $131m of equity
• The second account, 0xb83d, is short $439m across 30 positions and is down about $10.7m on its HYPE trade
• The top account has made about $99.1m in 30 days but carries an $8.34m unrealised loss on its HYPE short

A short position profits when prices fall.

The larger account, wallet 0x5b5d, held 22 open positions worth $618m in notional value at 04:40 UTC on 2 Nov, backed by about $131m in equity, or roughly 4.7x leverage. Ether is the biggest bet at about 97,460 ETH worth $225m from an average entry of $2,322.72, with a liquidation price near $3,701. Bitcoin follows at about 2,320 BTC worth $182m from an entry of $76,366.

The book also holds a $66.3m SOL short, a $51.4m ZEC short and a $19.5m XRP short, plus shorts on gold, silver, WLD, ENA, DOGE, PUMP and Fartcoin. The weakest position is HYPE, Hyperliquid's own token, where the trader is short about 488,375 tokens worth $43.1m from $71.16 and sits on an unrealised loss of $8.34m. Fill data shows the account added about $700,000 of HYPE shorts between 04:08 and 04:40 UTC on Monday.

The account ranks first on Hyperliquid's monthly profit leaderboard with about $99.1m over 30 days and an all-time profit of roughly $208m on $5.93bn of volume. The second account, 0xb83d, holds 30 positions worth $439m on about $105m of equity and is down about $10.7m on HYPE.

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