According to ChainCatcher, Onchain Lens monitoring shows that a whale deposited 4 million USDC into HyperLiquid to avoid liquidation of its 20x BTC short position.
In the past 15 days, this whale has cumulatively deposited 15 million USDC to prevent liquidation. Currently, the position faces an unrealized loss of 12.45 million USD, but has accumulated 6.247 million USD in funding rate gains.