The position was funded with 4.24 million USDC and was showing a $1.33 million unrealized loss after news that Iran's oil and petrochemical exports received an exemption.
A wallet deposited 4.24 million USDC to Hyperliquid as margin and opened a 500,000 CL long position with 10x leverage worth $37.77 million at $78.184. On-chain analyst Ai Yi said the trade was showing a $1.33 million unrealized loss about five hours later, after news that Iran's oil and petrochemical exports received an exemption. The update revises earlier reports that had described the position as a roughly $39.1 million WTI crude oil long showing a smaller unrealized loss.