A Whale Nearly 'Buys Out' the PLTR Order Book, $26.6 Million Order Equivalent to 78% of OI

August 10th, according to TradingBeats monitoring, the PLTR contract on Hyperliquid is currently trading at $172.32, rebounding 39.3% from the recent 7-day low of $123.74. The 24-hour trading volume is approximately $7 million, with an open interest value of around $33.986 million. Amid the sharp rise, a whale holds a position representing 39% of the total platform's open interest, with orders equivalent to 78% of the open interest.

The ongoing rebound has led to the largest bearish whale (0x4e2) moving into a loss. As of writing, the address is shorting 78,300 PLTR with 10x leverage, with a position value of approximately $13.5 million, an average price of $169.46, and an unrealized loss of about $224,000 (-16.9%); the liquidation price is $187.08, approximately 8.6% above the current price.

The address is currently the largest order placer for PLTR, setting up three layers of orders around the existing short position totaling $26.6 million.

- Near $172: 24 "Reduce-Only" buy orders, planning to cover 5,845.7 short positions, with a notional amount of about $1.006 million;

- From $167.3 to $171.41: 49 buy orders, planning to buy 101,200 PLTR, with a notional amount of about $17.002 million, and a weighted order price of around $167.98. If all executed, not only will it close out the remaining short position, but it may also result in holding approximately 28,700 PLTR long positions.

- From $175.9 to $179.08: 49 sell orders, planning to sell 54,300 PLTR, with a notional amount of about $9.6 million, and a weighted order price of around $176.8. If PLTR rises after the opening, these orders will increase the short position to around 132,600 PLTR.

Currently, PLTR has a 24-hour trading volume of approximately $7 million, with an open interest value of around $33.986 million. The hourly funding rate is about +0.042%, and there is no apparent bullish congestion in the overall market yet. The core of this whale's trading is not following the funding rate but actively betting on a wider price range after the recent sharp rise.

This whale is primarily a US stock-based, high-frequency event trader who frequently rotates rapidly between positions in storage, semiconductors, and tech stocks using multi-million-dollar positions and dense ladder orders. Since May, the cumulative profit from the contracts is about $17.44 million.