According to Hyperinsight via COINOTAG News, the trader 20 Million Bandit (0x880a) has been closing short exposure in ETH and HYPE over the past six hours, reducing the total short book to about $111 million and marking the largest short position on Hyperliquid. The ETH short sits near $68.3 million with an average entry of $3,132 and a liquidation price around $3,767; the HYPE short is around $41.97 million, with an average price of $31.7 and a liquidation price near $34.27.

This address has pursued high-frequency multi-token arbitrage with an average holding period of about 20 hours. Since October, it has booked over $104 million in profit on roughly $20 million capital, with today contributing about $1.3 million in gains.

Previously, exposure centered on PUMP, PAXG, and HYPE, but the mix has shifted toward ETH and HYPE shorts, now representing roughly 98.6% of the position.