{"id":28941,"date":"2026-05-18T14:41:34","date_gmt":"2026-05-18T14:41:34","guid":{"rendered":"https:\/\/bitunikey.com\/news\/hyperliquid-whales-sit-on-4-039b-in-near-perfectly-balanced-long-short-book\/"},"modified":"2026-05-18T14:41:40","modified_gmt":"2026-05-18T14:41:40","slug":"hyperliquid-whales-sit-on-4-039b-in-near-perfectly-balanced-long-short-book","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/hyperliquid-whales-sit-on-4-039b-in-near-perfectly-balanced-long-short-book\/","title":{"rendered":"Hyperliquid whales sit on $4.039b in near\u2011perfectly balanced long\u2013short book"},"content":{"rendered":"

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Hyperliquid whales now hold $4.039b in open interest with a near\u2011neutral long\u2013short split, and both sides sitting on millions in unrealized losses after choppy price action.<\/p>\n

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\n Summary<\/span>\n <\/div>\n
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  • Coinglass data show total whale positions on Hyperliquid at $4.039 billion, with longs at $1.981 billion (49.05%) and shorts at $2.058 billion (50.95%), for a long\u2013short ratio of 0.96.<\/li>\n
  • Both sides of the book are currently underwater, with aggregate long PnL at about -$30.8 million and short PnL at roughly -$14.6 million, signaling broad pain for highly leveraged players.<\/li>\n
  • A single wallet, 0xa5b0..41, is running a 15x leveraged ETH long from around $2,265 per coin, sitting on more than $3.6 million in unrealized losses on a roughly $87 million notional position.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Whale traders on decentralized derivatives platform Hyperliquid (HYPE) currently hold a combined $4.039 billion in open positions, according to the latest Coinglass snapshots relayed by Asian market trackers. The book is almost perfectly balanced between directions, with $1.981 billion in longs (49.05%) and $2.058 billion in shorts (50.95%), producing a near\u2011neutral 0.96 long\u2013short ratio that underscores how evenly matched the largest accounts are.<\/p>\n

    Hyperliquid\u2019s whale book is almost perfectly split<\/h2>\n

    Despite that symmetry, neither side is winning: Coinglass data from prior reporting show whales have repeatedly cycled through phases where long PnL and short PnL swing from nine\u2011figure gains to similarly large drawdowns as market structure on Hyperliquid adjusts. In one earlier snapshot, whale holdings sat at $4.237 billion, with long PnL at -$160 million and short PnL up $280 million; in another, a $4.181 billion book saw long PnL at $225 million versus -$169 million for shorts, illustrating how quickly the balance of pain flips between bulls and bears.<\/p>\n

    The latest configuration, with longs nursing about -$30.8 million and shorts down roughly -$14.6 million, suggests recent price action has chopped both sides rather than delivering a clean squeeze or cascade. It also highlights how tight the directional call has become at size: whales are clearly still willing to lean short on net, but only marginally so, even as the total notional risk they carry remains in the low\u2011single\u2011digit billions.<\/p>\n

    One 15x ETH long shows how brutal the tape has been<\/h2>\n

    Within that aggregate picture, one Hyperliquid whale address, 0xa5b0..41, has become a focal point for on\u2011chain sleuths after loading up on a 15x leveraged ETH long. Data compiled by tracking sites show the trader opened a position of 40,000 ETH at an entry price of about $2,265 per coin \u2014 roughly $87 million in notional exposure \u2014 with a liquidation level down near $1,347.<\/p>\n

    <\/p>\n

    As of mid\u2011May, that position is sitting on more than $3.6 million in unrealized losses after previously being flagged by other outlets as carrying a paper drawdown closer to $2.9 million, a reminder of how quickly PnL whipsaws at 15x. Even so, historical trade data show the same address has booked roughly $44.61 million in cumulative profit from 120,000 ETH of earlier long positions over the past two months, underscoring that this is an experienced whale absorbing a nasty mark\u2011to\u2011market hit rather than a one\u2011off degen punt.<\/p>\n

    Taken together, the $4.039 billion in whale exposure, the razor\u2011thin skew toward shorts, and the fact that both sides are in the red point to a Hyperliquid market where big accounts are still aggressive but far from omniscient, and where even seasoned whales can find themselves deeply underwater when volatility spikes.<\/p>\n

    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

    Hyperliquid whales now hold $4.039b in open interest with a near\u2011neutral long\u2013short split, and both sides sitting on millions in unrealized losses after choppy price action. Summary Coinglass data show…<\/p>\n","protected":false},"author":1,"featured_media":871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=28941"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28941\/revisions"}],"predecessor-version":[{"id":28942,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28941\/revisions\/28942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/871"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=28941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=28941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=28941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}