A whale address (0xf02d) holding the largest short position in Hyperliquid's native token HYPE has accumulated $5.56 million in unrealized profit as the token's price fell 22% from its peak. The position currently shorts 715,334 HYPE, valued at approximately $54.57 million. In addition to the unrealized gains from the price decline, the trader has earned $620,000 through funding rate payments, according to on-chain monitoring data from Lookonchain.