A Tesla-linked perpetual contract on Hyperliquid fell to $364.80 Friday, leaving a large short position in profit while a separate leveraged long was partly liquidated.
The 10:35 a.m. ET (14:35 UTC) snapshot from Friday, Oct. 16, put a $10.5 million short in the contract at an unrealized gain of about $66,000. An earlier reading showed an unrealized loss of roughly $310,000, and the position had not been closed in the later snapshot.
The contract was down about 1.3%. It briefly traded under the approximately $365.30 level seen at the Roadster presentation’s start, temporarily erasing its post-event advance.
A separate large trader had 2,093 long contracts forcibly closed. The contracts were valued at about $764,000, and the trader realized a loss of roughly $27,800. The trader retained 6,697 contracts worth about $2.45 million; the remaining position showed an unrealized loss of about $84,000 and a liquidation price near $361.80. The position used 20x cross margin.
Trading activity followed Tesla’s Roadster presentation. Open interest in Hyperliquid’s Tesla-linked TSLA perpetual contract rose 76.3% between the presentation’s start and a later snapshot, as EconoTimes previously reported.
