Interesting artifact on saga-2:native on Hyperliquid.
One trader (who doesn’t look like an insider btw) opened longs worth roughly half of the entire OI. Basically, he’s holding almost all of the long OI himself.
Apparently, bro is betting on some crime gang pumping the token a few X again, like what happened in May.
Meanwhile, thanks to this massive long, funding is sitting at around 450% annualized. Bro is literally paying shorts to hold the other side of his position.
Which creates a pretty juicy arb between perp DEXs.
Let’s see what he does with the position next. Bleeding 1%+ a day in funding can’t be fun (especially if you’re not an insider and have no clear timeline for the move).
Wallet: 0x091159a8106b077c13e89bc09701117e8b5f129a
