Whale/Institution short hedging on Hyperliquid for USDT purchase of ASTER

Odaily Planet Daily News According to on-chain analyst Ember Monitor, 7.5 million USDT of whales/organizations that purchased $ASTER are not naked more than $ASTER. An associated wallet at this address hedging or funding fee arbitrage was performed on Hyperliquid: shorted $ASTER with 3 x leverage (same quantity as spot purchases). This should be hedging, or on the arbitrage fund fee (the current rate on Hyperliquid is positive, that is, long pay short fund fees, with an annualized rate of up to 450%).