On Sept. 4, TradingBeats, formerly Hyperinsight, said the largest HYPE long is holding 1.38 million HYPE and is currently up about $66.8 million on paper.
Current position metrics
TradingBeats listed the whale’s position as a 5x leveraged HYPE long. The address holds 1.38 million HYPE with a notional size of about $120 million, an average entry price of $38.67, and a current price near $87.105.
Unrealized profit was put at roughly $66.83 million, with a reported return of about 626%. The liquidation price stands at $67.67, or about 22.31% below the current price.
No reduction since the last add, but capital has been taken out
TradingBeats said the whale has not reduced the position since its last increase on Dec. 6, 2025. Over that same period, however, the address has already recorded net outflows of $49.9567 million from HyperCore.
The platform described that capital recovery as the equivalent of taking profit in stages while keeping full upside exposure intact.
Total transfers out during the period reached about $85.5 million. That figure included $14.5 million withdrawn directly and $71 million moved to HyperEVM under the same address. On the net capital outflow measure, the figure was close to $50 million.
After subtracting all observable deposits and returning funds, the whale still showed net withdrawals of about $21.99 million from HyperCore. TradingBeats said that amount can be viewed economically as HYPE profit already extracted.
Funding paid and margin withdrawn
The whale has also paid $5.3384 million in funding and has continued to pull out margin, with cumulative margin withdrawals exceeding $29 million.
Liquidation price has moved up over time
As HYPE rebounded, the liquidation price rose from around $20.1 near the January low to $41.3 in May, then $52.8 in June, and has now climbed further to $67.67.
Estimated profit even in a liquidation scenario
Using the initial margin of $10.67 million as principal, TradingBeats estimated that even if the position is liquidated in the future and the unrealized gain falls to zero, the whale would still be able to lock in about $5.9818 million in net profit. That calculation is based on the $21.9950 million already transferred out, after subtracting principal and the $5.3384 million in funding paid.
TradingBeats also said its on-chain perpetuals and address analysis tool is now live, offering real-time Hyperliquid data and tracking from address attribution to whale activity.