An address linked to Taiwan trader 0xRay has fully exited its perpetual positions on Hyperliquid, according to trade records cited in the source report. While on-chain analytics platform Arkham said on Sept. 14 at 2:25 p.m. Taipei time that the wallet was holding roughly $98 million in short positions and showed about $2.7 million in unrealized profit at the time, transaction data reviewed later showed the exit had already been underway for nearly 12 hours. The largest position, an $81.74 million BTC short entered at $77,888 with 20x leverage, was closed at a loss of about $505,000, with the final fills near $78,434. Across six instruments, realized profit came to about $717,000, led by a $1.112 million gain on the PONS short. The report also said the account was not liquidated during the trading period, even though three PUMP trades carried liquidation flags; those liquidations belonged to other addresses on the opposite side. By 11:55 p.m. Taipei time on Sept. 14, the last perpetual trade had been completed, leaving no open perpetual positions and spot balances of $11.69 million in USDC and 4,187 HYPE.

TradingBeats, formerly known as Hyperinsight, said an address believed to belong to well-known Gen Z trader 0xRay518 added to its short positions in PONS and SNDK over the weekend. As of publication, the address was holding a 10x leveraged SNDK short worth $13.46 million and a 3x leveraged PONS short worth $3.62 million. The account is also listed as the second-largest short-position holder on Hyperliquid. TradingBeats also tracked a reduction in the address’s Bitcoin short exposure earlier in the day. The wallet cut 49.12 BTC from its short position in the morning, but still held a 20x leveraged BTC short worth $81.52 million at press time. Publicly available background information cited by ChainCatcher says 0xRay518 began investing at age 14 in 2020, first trading shipping stocks with $3,000 in gift money and at one point turning that into about $300,000 before high leverage nearly wiped out the gains. From 2021 to 2022, the trader shifted to NFTs and airdrops and made what was described as a first major pot of money through the Arbitrum airdrop. In 2025, the same public profile said he left a high school academic test midway and bought $1 million worth of TRUMP tokens on the roadside, exiting with a reported 3x to 4x profit.