750 million USDT whale/institution purchasing ASTER is shorting hedging on Hyperliquid.

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Odaily News According to on-chain analyst Yu Jin's monitoring, the purchase of 7.5 million USDT of $ASTER by a whale/institution is not a naked long position on $ASTER. One associated wallet of this address has engaged in hedging or funding fee arbitrage on Hyperliquid: shorting 6.486 million $ASTER with 3x leverage (the same amount as the spot purchase). This should be a hedging operation, or arbitraging the funding fee (the current rate on Hyperliquid is positive, meaning longs pay shorts the funding fee, with an annualized rate as high as 450%).

ASTER115.69%
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