BlockBeats reported on September 1 that TradingBeats monitoring showed a trader-linked subaccount associated with “CBB” had cumulatively bought 125,492.4 HYPE spot tokens since 00:45 today, with trades totaling about 10.55 million dollars at a weighted average price of 84.073 dollars. According to BlockBeats On-chain Detection, the same account also opened a 10x cross-margin short position in 125,458.02 HYPE perpetual contracts while buying spot, creating a near 1:1 spot-and-futures hedge.
The perpetual short position was valued at about 10.55 million dollars and was opened at an average price of 84.111 dollars. The account has also received about 1,818.6 dollars in funding fees today through the perpetual short, as HYPE funding rates remain positive.
The strategy uses borrowing to improve capital efficiency. The account has enabled portfolio margin, holds about 190,538 HYPE as assets, and has borrowed about 7.56 million USDC, leaving its USDC balance at roughly negative 5.96 million dollars. The main account made a net deposit of about 10 million dollars in this round, while the remaining spot exposure was mainly financed through USDC borrowing.
The address is a subaccount named “2 HYPE DN” under main account 0x49e9. The main account also holds about 15.696 million USDC and controls multiple related subaccounts. TradingBeats has also launched an on-chain perpetual and address analysis tool for real-time Hyperliquid data, covering address tracing and whale activity.
Catherine
