Whale trading activity on Hyperliquid has reached $4.87 billion as of December 11, 2025. Short positions slightly outweigh long positions, with shorts totaling $252.1 million, accounting for 51.76% of the market, compared to $234.9 million in longs, which represent 48.24%. Long-term investment positions have incurred a $17.1 million loss, while short positions have gained $27 million. A notable whale, identified by the address 0xb317..ae, holds a significant 5x long position in Ethereum at a price of $3,177.89. This position currently shows an unrealized profit and loss of $2.5464 million, highlighting the ongoing strategic maneuvers by large traders in the market.