A Delta neutral fund is shorting $XPL on the perp market of a certain platform (get on board at 0.6 dollars, with separate Margin, and the liquidation line is around 2.1x), while simultaneously going long on a certain platform to hedge the funding rate.



This strategy has been executed multiple times without issue, but on 2025/8/26, a trader cleared the sell orders on a certain platform, pulling the price from 0.6 dollars to 1.8 dollars within a few minutes.

The result led to 85% of the entire market.
PERP-6.05%
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RuntimeErrorvip
· 4h ago
Violent pump player yyds
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CodeSmellHuntervip
· 4h ago
That's ridiculous!
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ForkPrincevip
· 4h ago
Is this the outcome? Deserved it.
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AirdropHunter420vip
· 4h ago
Blowing so many leverage traders is really slick.
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GateUser-e51e87c7vip
· 4h ago
Always love short order
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GateUser-e87b21eevip
· 4h ago
Another play people for suckers has been harvested.
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