Trader realized a $2.1 million loss selling part of a Sandisk perp long
The account sold 6,352 contracts on trade.xyz in two hours and 16 minutes. More than a third of its opening position was still on the books after the last sale.
A trader who began November 10 with 9,888 SandiskSNDK+13.60% perpetual futures on trade.xyz, a market on Hyperliquid, sold most of the position at an average of $851.80. The exchange recorded $2,096,970 in realized losses on the sales.
Most of the loss came in the hour beginning at 11 a.m. Eastern. The trader sold 3,942.67 contracts in that hour, realizing $1.30 million of the loss. By noon, the position was down to 3,945.33 contracts.
| 10 a.m. hour | 2,010 | $854.07 | $659,564 |
|---|---|---|---|
| 11 a.m. hour | 3,942.67 | $851.89 | $1,300,689 |
| Noon hour | 399.488 | $839.56 | $136,718 |
What the sales cost
Between 10:41 a.m. and 12:58 p.m. Eastern, Hyperliquid recorded 3,291 sell fills worth $5.41 million in total. That was the value of the contracts sold. The realized loss measures how far the sale prices fell below the cost of those contracts.
The sell fills showed $131.23 in trading fees. Funding was a separate cost of holding the perp. From midnight through the 4:12 p.m. account check, the ledger recorded $1,640.29 in funding debits on the Sandisk position, including the portion that stayed open.
The position the trader kept
One small purchase interrupted the selling. The trader bought 10 contracts just before 11 a.m. After selling 6,352.158 contracts in total, the account was still long 3,545.842, about 36% of its opening position.
The remaining contracts still moved with the Sandisk perp price. At that size, a further $10 decline would cost the account about $35,458 before fees and funding. A $10 rise would add the same amount.