The Hyperliquid whale trader has increased their position to over $1 billion as of Wednesday afternoon, racking up over eight figures in unrealized gains.

The wallet address holds 100% of its exposure in long positions, split across two assets: a 10,000 Bitcoin (CRYPTO: BTC) long position worth almost $1.1 billion at the time of writing and a $34.7 million Pepe (CRYPTO: PEPE) position.

The position carries a 14.22x leverage and is currently sitting at an 88.12% return on equity (ROE) for a $25 million unrealized gain.

The trader had partially closed Tuesday’s trade in early morning hours but has since opened another position with an average entry price above $108,000.

The Pepe trade shows a 400% unrealized profit, with an increase of over 50% in the meme coin’s price since the trader opened their position.

Also Read: Bitcoin Hits All-Time High Of $109,500: What’s Next?

Across all trades, the account sits at an all-time profit of over $68 million.

Notably, the entire position is maintained with zero free margin, and funding costs are significant, over $2.5 million combined, with the BTC trade alone accounting for a $1.39 million funding burden.

This aggressive exposure adds a dramatic layer to the current market backdrop, with Bitcoin breaking its all-time high on Wednesday.

The sheer scale of the position, approaching $1 billion and the whale's bold leverage suggests deep conviction and tolerance for volatility, a profile consistent with sophisticated quant funds or institutional desks testing size on-chain.

The trade appears to be riding the tailwind of Bitcoin’s broader surge this week, which has seen the asset climb above $109,000.

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