TechFlow reported on June 18, citing Hyperinsight monitoring, that the whale address known as the “largest SPCX short” on Hyperliquid continued to cover SPCX short positions over the past hour. After this round of covering, the address still maintains a sizable short position: it is short 145,500 SPCX with 3x leverage, and the current position value is approximately $27.7 million.
The short position remains at a multi-million-dollar scale
According to the monitoring data, the address has accumulated unrealized profit of $1.4 million, with a return of about 14.4%. The figures show that although the whale has covered part of its SPCX short exposure during the most recent one-hour window, the remaining position is still large and continues to use 3x leverage. Based on the disclosed data, the open short position corresponds to 145,500 SPCX and is valued at around $27.7 million.
The address began building the position yesterday. The report states that when SPCX was trading above $200, the address opened a large short position, with the position size at one point reaching $30 million. In other words, the short setup was established while SPCX remained above the $200 level. As SPCX later moved lower, the position’s floating profit expanded.
Partial profit-taking as SPCX fell near $190
SPCX continued to decline today and at one point approached the $190 area. During that move, the whale took partial profit on the short position and locked in part of the gain. Afterward, the address increased its short exposure again, using part of the realized profit to continue rolling the position and trading around it. Current monitoring data shows that the average entry price of the position has been reduced to $200.2.
At the time the monitoring information was disclosed, this address remained one of the large SPCX-related short positions on Hyperliquid. The available data covers the address’s leverage level, position size, notional value, unrealized profit, return, the price area where the short was initially built, and the subsequent path of partial profit-taking and position rolling after SPCX moved toward $190.