2 days ago $ORCL on Hyperliquid saw Open Interest rise by $15M, almost doubling.
Interestingly, this happened after 2 operations:
1) 0x86523927bffeafe2e532f0218feb1f3c29f6120d
After depositing $740k, he opened a $7M naked x10 ORCL long and a small NVDA long.
He's responsible for ~23% of the OI of this market.
It probably belongs to
@ICanPlug and is likely a directional trade. He's now sitting at around -$100k uPNL including the funding he paid.
2) 0xefd3ab65915e35105caa462442c9ecc1346728df (
@cbb0fe once again)
He took the other direction and opened a $5.6M x3 short, representing ~18% of the OI.
This is not a directional trade, he's farming the funding by shorting the perps and holding the spot. He's earning around 50-70% APY.
Does ICanPlug know something?