Two Hyperliquid accounts tracked by Lookonchain lost their remaining long positions totaling approximately 56,667 $ETH to liquidation on Nov. 8, ending a leveraged bet on rising Ether prices that had survived an earlier partial exit.
The accounts’ liquidation records show forced reductions followed by transfers to a liquidator. Hyperdash now shows neither account holding open perpetual positions, with combined lifetime losses of about $44.8 million. That is an account-history measure, not the loss from the final liquidation alone.
The liquidation exhausted the exposure left after an earlier retreat. In an Oct. 29 ET post, Lookonchain said the trader had closed 36,517 $ETH of a 93,184-$ETH long to avoid liquidation, leaving 56,667 $ETH. The analyst groups the two addresses as one whale’s trade.
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In its latest post, Lookonchain said the remaining long was “fully liquidated” and put total losses at $44.78 million.
Liquidation Near the Earlier Warning Levels
The earlier post listed estimated liquidation prices of $2,122.44 and $2,129.72. A Hyperliquid price update linked to the first liquidation entries recorded an $ETH mark price of $2,125.70, between those two levels, and an oracle price of $2,122.
Those reference prices are distinct from execution prices. The two accounts’ order-book liquidation entries show fills ranging from $2,055.62 to $2,109.82.
Hyperliquid’s rules trigger liquidation when account equity falls below maintenance requirements, using a mark price that combines outside exchange prices with its own order book. The documentation says displayed liquidation levels can change with funding payments and, for cross-margin positions, profits or losses elsewhere in the account.
The exchange first attempts to close positions through its order book. If equity deteriorates further, its liquidator vault can take over the remainder. Across these two accounts, the records show approximately 15,623 $ETH in order-book reductions, followed by final liquidation transfers totaling approximately 41,044 $ETH. The linked final transactions identify both accounts as liquidated users.
