According to monitoring data cited by Odaily, the PLTR contract on Hyperliquid was trading at $172.32, up 39.3% from its seven-day low of $123.74. Trading volume over the past 24 hours was about $7 million, while open interest was valued at roughly $33.986 million.
One whale currently accounts for 39% of platform-wide open interest in the contract. Its outstanding orders are equivalent to about 78% of the contract’s total open interest value. After the recent rebound, the market’s largest short position has moved into the red.
The whale’s short position
The trader is holding a 10x isolated short in 78,300 PLTR contracts, with a position value of about $13.5 million. The average entry price is $169.46. The position is now showing a floating loss of around $224,000, and the liquidation price stands at $187.08, about 8.6% above the current market price.
Three layers of orders around the position
The whale has built a three-layer order structure around the existing short, with a combined notional value of $26.6 million. That makes it the largest active order placer in the current PLTR market.
- Near $172, the account placed 24 reduce-only buy orders to cover 5,845.7 short contracts, with a notional value of about $1.006 million.
- Between $167.3 and $171.41, it placed 49 buy orders for 101,200 PLTR contracts, with a notional value of about $17.002 million and a weighted average order price of about $167.98. If all of those orders are filled, the remaining short would be closed and the account could flip into a long position of about 28,700 PLTR.
- Between $175.9 and $179.08, it placed 49 sell orders to sell 54,300 PLTR contracts, with a notional value of about $9.6 million and a weighted average order price of about $176.8. If PLTR rises first after the market opens, those orders would expand the short to about 132,600 contracts.
Volume, open interest and funding rate
At present, PLTR has posted about $7 million in 24-hour trading volume, with open interest valued at around $33.986 million. The hourly funding rate is positive 0.00042%. The monitoring data said the market has not yet shown obvious long-side crowding.
Trading style and cumulative profit
Odaily said the whale mainly trades U.S. equities and operates as a high-frequency event-driven trader. The account often uses positions worth tens of millions of dollars and dense laddered orders to rotate across storage, semiconductor and technology stocks. Since May, its cumulative derivatives profit has reached about $17.44 million.