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SPCX top trader holds $8.7 million short with $2.35 million unrealized profit

SPCX top trader holds $8.7 million short with $2.35 million unrealized profit

The wallet tracked by HyperliquidNews has earned $25.1 million in total, including $22.54 million from perpetual contracts and $54,300 in funding payments.

Fact Check
The originating HyperliquidNews X post confirms every figure: 67.93K SPCX short ≈$8.70M, +$2.35M unrealized PnL, $54,269 funding (rounded to ~$54,300), total wallet PnL $25.1M with $22.54M from perps. The Odaily newsflash independently relays the same data attributed to HyperliquidNews. Both primary and secondary sources are consistent with the claim.
    Reference: 12
Summary

A trader identified by HyperliquidNews as the most profitable on SPCX is currently holding a short position worth about $8.7 million. The position totals 67,900 SPCX, with unrealized profit of $2.35 million, while the wallet has also collected $54,300 in funding fees. The same wallet has generated cumulative profit of $25.1 million, including $22.54 million from perpetual contracts (futures without expiry). The figures point to a highly profitable directional bet against SPCX and underscore how large traders can compound returns through both price moves and funding payments in perpetual markets.

Terms & Concepts
  • short position: A trade that profits if the asset price falls.
  • perpetual contracts: Futures without expiry that use funding payments to track spot prices.
  • funding fees: Periodic payments exchanged between long and short traders.