Hyperliquid whale opens $111.5 million 50x S&P 500 short before U.S. May CPI

A whale trader on Hyperliquid who had opened a 15,000-contract 50x leveraged short on the S&P 500 ahead of U.S. May CPI later built the position to 20,000 contracts by 21:50 on June 9, raising its notional value to about $147 million, Hyperinsight said. The enlarged short was held at an average price of $7,428. About 10 minutes later, U.S. stocks reversed lower and the S&P 500 fell more than 3.1% within two hours, briefly pushing the position's unrealized profit to $3.6 million. The trade remained open as of publication ahead of the U.S. May CPI release at 20:30 Beijing time on June 11. Earlier reporting had described the position as a 15,000-contract short worth about $111.5 million, entered at an average price of $7,417 with a liquidation price of $8,294.9, while Odaily, citing Lookonchain, identified the whale wallet as "0x97f8" and put the notional size at about $111.6 million. The trade has drawn attention as traders weigh U.S. inflation data, the Federal Reserve's rate path and broader risk-asset sentiment.