Follow the upcoming personal operations of crude oil $CL

Hyperliquid's crude oil position has already reached $400 million, and the funding rate annualized has soared to 641%.

Short sellers are now paying rent every day.
Even if your market outlook is correct, as long as you're short, you have to keep paying.

Full short positions lose about 2% per day;
if you leverage 5x, that's a 10% loss per day.
Before the trend is clear, people might be wiped out by funding fees first.

So, the current situation is no longer just about betting on rise or fall, but about seeing who can hold out longer.

The pressure on the shorts is very high. Once someone can't hold on and gets liquidated, it can trigger a wave of buying pressure.

My next move is to go long and act as the counterparty to these shorts.

Of course, I won't go all-in; I'll use low leverage and small positions to participate, mainly to capitalize on this structural imbalance.