According to @lookonchain, trader 0x044d scaled a Hyperliquid account from $1.02M to $26.07M, realizing over $25M in cumulative profit (source: @lookonchain). According to @lookonchain, roughly 3 hours ago he closed $17.68M SOL and $35.45M ETH short positions for a $1.06M realized profit (source: @lookonchain). According to @lookonchain, he then flipped direction and opened a new 6,590-size position as shown in the source post’s image (source: @lookonchain).

According to @ai_9684xtpa, Hyperliquid will use a conventional mark price formula for its contracts that references Binance futures prices when available and other exchanges when not, reducing single-oracle risk (source: @ai_9684xtpa). According to @ai_9684xtpa, this mechanism is intended to mitigate large mark-price swings and curb manipulation driven by a single oracle (source: @ai_9684xtpa). According to @ai_9684xtpa, traders should expect mark prices to be derived from multi-exchange references rather than a single oracle, improving price robustness for perpetual swaps (source: @ai_9684xtpa).

According to @rovercrc, approximately $354 million in crypto positions were liquidated over the last 60 minutes. Source: https://twitter.com/rovercrc/status/1960082545833361628 Large, clustered liquidations can accelerate price swings via cascading margin calls and thin order books, increasing short-term volatility and slippage risk for major pairs such as BTC and ETH. Source: https://academy.binance.com/en/articles/what-are-liquidations and https://academy.binance.com/en/articles/what-is-slippage-in-crypto Intraday traders commonly monitor funding rates and liquidity conditions after such flushes to assess leverage imbalances and pricing dynamics in perpetual swaps. Source: https://academy.binance.com/en/articles/what-are-funding-rates and https://academy.binance.com/en/articles/what-are-liquidations

According to @rovercrc, ETH is not overheated because perpetual funding rates have not spiked as they did at the 2021 all-time high. According to @rovercrc, the lack of a funding-rate surge implies less aggressive long leverage versus prior peaks, lowering blow-off liquidation risk and providing room for trend continuation if spot demand improves. According to @rovercrc, traders should monitor any acceleration in funding rates as a signal that leverage risk is rising toward 2021-style conditions.

According to @ai_9684xtpa, a trader compounded $125,000 into $42.987 million in four months, then suffered an 84% drawdown, banked $6.865 million, and ultimately exited with $770,000 after a three-day 98% loss (source: @ai_9684xtpa, Aug 19, 2025). According to @ai_9684xtpa, the blow-up was linked to rolling positions, no stop-loss/take-profit, and high leverage—showing how overexposure in crypto derivatives can erase gains rapidly (source: @ai_9684xtpa, Aug 19, 2025). According to @ai_9684xtpa, this case illustrates that unchecked compounding and leverage without predefined risk limits can lead to near-total equity loss within days in volatile markets (source: @ai_9684xtpa, Aug 19, 2025).

According to @EmberCN, traders including James Wynn, AguilaTrades and others have achieved outsized profits via rolling position strategies and now exhibit path dependence toward repeating the approach, source: @EmberCN on X, Aug 16, 2025. Rolling and compounding winners in BTC and ETH perpetual swaps increases gross exposure and tightens liquidation buffers as leverage rises, historically elevating tail risk, source: Binance Futures Guide and Deribit Insights Risk Management. Crowded rolling flows tend to surface as rising positive funding rates alongside expanding open interest, which increases the probability of squeeze events in one-sided markets, source: Kaiko Market Data and Binance Research funding-rate methodology. Traders can adapt by capping leverage, scaling out into elevated positive funding, and monitoring funding/open-interest divergences as early warning signals for potential reversals, source: Deribit Insights Risk Management and Binance Research.

According to @rovercrc, ETH perpetual funding rates remain extremely low and are still far from both prior range highs and the 2021 all-time high, indicating leverage is not overheated; source: @rovercrc on X, Aug 13, 2025. Traders often read low positive funding as a sign that long positioning is not yet crowded compared with historical peaks, reducing immediate squeeze risk until funding rises toward prior extremes; source: Binance Academy, Funding Rate explainer.

According to @EauDoon, BTC has seen increasing positive sentiment over the past 24 hours, but funding is rising faster than the price; late buyers should proceed with caution (source: @EauDoon on X).

According to Cas Abbé, XRP futures 24-hour volume jumped 208% to $12.4B, overtaking Solana’s $9.6B, marking a shift in derivatives flow toward XRP, source: Cas Abbé on X. Open interest rose 15% to $5.9B, indicating materially higher positioning in XRP derivatives, source: Cas Abbé on X. Funding is positive on XRP perpetuals, which signals a long bias where longs pay shorts, source: Cas Abbé on X; source: Binance Futures documentation. Traders monitor the combination of elevated open interest and positive funding as a crowding and squeeze-risk signal in derivatives markets, source: Binance Research.

According to @MilkRoadDaily, $HYPE trading volumes are rapidly increasing, with Binance Futures maintaining its position as the leading derivatives platform. However, Bybit and the onchain exchange HyperliquidX are quickly gaining market share, signaling intensified competition in the perpetual swaps sector. Notably, HyperliquidX, traditionally seen as an onchain underdog, is now competing directly with major centralized exchanges, marking a significant shift in the landscape for traders seeking high-liquidity perps products. This ongoing exchange battle could influence trading volumes and liquidity dynamics across the broader crypto derivatives market. Source: @MilkRoadDaily.

According to @ThinkingUSD, InsilicoTrading is considering building an onchain trading platform that promises best-in-class execution, lower fees, the largest referral split among onchain terminals, and top-tier perpetual swap execution. These features directly target key trader demands—lower transaction costs and more lucrative referral programs—potentially increasing platform liquidity and user acquisition. For crypto traders, such advancements could drive higher trading volumes and tighter spreads on InsilicoTrading, influencing market competition and fee structures across the DeFi ecosystem. Source: @ThinkingUSD.

According to Akshat_Maelstrom on Twitter and The Block, BitMEX has successfully expanded its crypto derivatives product lineup, introducing new perpetual swap contracts and increasing liquidity for major trading pairs (source: theblock.co/post/356427/bitmex-expands). This move enhances trading opportunities and risk management tools for both retail and institutional traders, potentially boosting overall market depth and volatility. Traders should monitor BitMEX volumes and open interest data, as increased activity on BitMEX often signals shifts in broader crypto market sentiment and can influence price action across Bitcoin and Ethereum derivatives.

According to glassnode, the BTC funding rate has flipped negative, indicating a shift in trader sentiment with increased short positions building across major cryptocurrencies, including BNB and ADA. Notably, Solana now ranks as the 6th lowest funding rate among tracked assets on Glassnode Studio, signaling heightened short activity and potential downward price pressure. These developments are critical for traders monitoring perpetual swaps and funding rates, as negative rates often precede volatility or potential reversals. Source: glassnode (May 28, 2025).

According to Henri Arslanian, perpetual swaps, also known as perps, are a type of derivative contract in the crypto market that allow traders to speculate on the price of cryptocurrencies without an expiry date (source: @HenriArslanian on Twitter, May 13, 2025). He highlights that perps provide high leverage and deep liquidity, making them essential tools for active traders seeking to hedge or amplify positions. The popularity of perpetual swaps on major crypto exchanges has significantly increased trading volume and volatility, impacting both short-term price movements and long-term market dynamics. Henri emphasizes that understanding how perps function is critical for traders aiming to manage risk and capitalize on trading opportunities in the evolving digital asset landscape (source: @HenriArslanian on Twitter, May 13, 2025).

According to @ThinkingUSD, Bitcoin is highlighted as a crucial asset for wealth preservation, and stablecoins are noted for enabling seamless transactions without intermediaries, crucial for commerce. These digital assets are expected to gain wider acceptance, enhancing their utility in trading. Additionally, the role of perpetual swaps in facilitating 24/7 stock trading is emphasized as a significant development in crypto markets. Source: @ThinkingUSD.

According to Trader_XO, the recent BTC perpetual swaps trade resulted in a loss as the price hit resistance, and the trader was forced to cut the position prior to a breakdown. This marks the first loss trading perpetual contracts on the long side this year. The daily RSI indicates an oversold condition, and high-timeframe EMAs and MAs are not favorable for bullish trades. The trader is monitoring for future setups.

According to Flood (@ThinkingUSD), the awareness of perpetual swaps among memecoin traders could significantly impact the trading dynamics in cryptocurrency markets. Perpetual swaps, which allow traders to bet on the future price of cryptocurrencies without owning them, could lead to increased volatility and liquidity in memecoin trading. This understanding can enable memecoin traders to leverage their positions more effectively, potentially altering market behavior.