How a Hyperliquid Trader Turns 6,800 USD into 1.5 Million USD

A trader on Hyperliquid has quietly turned a 6,800 USD account into over 1.5 million USD in profit – all without having to bet in any direction or chase strong price movements. According to wallet data from the address 0x6f90…336a, this trader started with just two deposits at the beginning of February 2024. Another Hyperliquid User Executes Legendary Transactions The decentralized exchange Hyperliquid became the focal point in Q2 thanks to the viral trading of James Wynn. This Bitcoin whale quickly became a celebrity in the cryptocurrency community. Although James Wynn’s story ended with a loss of 100 million USD, another new trader has quietly emerged.

In the past few months, the wallet ‘0x6f90…336a’ has achieved over 20.6 billion USD in total trading volume, with traders taking profits along the way. This strategy relies on placing market-making orders to earn small rebates from the exchange rather than trying to guess where the price will go.

The Silent Giant: 3% of Hyperliquid’s Volume On decentralized exchanges like Hyperliquid, traders who provide liquidity by placing maker orders will receive a small fee rebate. This is called a maker rebate. Conversely, the taker order, executed immediately, must pay a fee. On Hyperliquid, the current maker rebate is –0.0030%, meaning traders are paid 3 cents for every 1,000 USD in volume they provide. Although it seems small, it adds up quickly at scale. Although managing under 200,000 USD in capital, this trader is said to account for more than 3% of the total maker volume on the exchange. This trader has observed the one-sided price indicator of the market at a certain point – either the buy price or the sell price – minimizing risk in that direction. They also maintained a net exposure level below 100,000 USD throughout the period. This indicates a tightly controlled strategy focused entirely on earning refunds, not betting on prices.

Small Capital, High Frequency In 14 days, the trader recorded a volume of 1.4 billion USD, rotating their capital hundreds of times a day. The maximum drop of 6.48% indicates that this system is very risk-averse. The most surprising thing is the scale. Achieving over 1.5 million USD in actual profit with an account under 200,000 USD, primarily from refunds, is a rare occurrence in decentralized finance.

This performance indicates the use of a highly automated trading system that is sensitive to latency. Orders can be managed through bots that respond immediately to market changes and cancel old quotes. This requires fast, consistent, and carefully regulated infrastructure to avoid exposure during sudden price fluctuations. However, it should be noted that this strategy is not easy to replicate. It requires technical knowledge, real-time infrastructure, and a deep understanding of exchange mechanisms.