Loracle's CASHCAT and PONS short turns a $6.3M hole into $5M
A 3x short on CASHCAT and PONS went from a $6.3 million hole to more than $5 million up, and the trader is still the largest short on Hyperliquid.
On September 14, trader Loracle cut 3x leveraged shorts in CASHCAT and PONS over two hours, leaving about $20.74 million in notional exposure.[1][2] The same sub-address, 0xefe4…194b, remained the largest short holder on Hyperliquid.[3]
The PONS leg was about $15 million.[4] The CASHCAT leg was about $5.74 million at a $0.207 average entry.[5]
Unrealized profit on the pair passed $5 million, after a maximum unrealized loss of $6.3 million.[2] The turn from a $6.3 million hole to $5 million up is paid on the other side, by the wallets holding CASHCAT and PONS.[2]
The same two entry prices appear on September 11 and on September 14. The sizes do not.[6][7]
Who gains, who loses
Receipts
On September 14, 2026, according to TradingBeats monitoring, trader Loracle steadily reduced his 3x leveraged short positions in CASHCAT and PONS over a two‑hour window.
“Huo Xing Cai Jin reports that on September 14, according to TradingBeats monitoring, trader Loracle has been steadily reducing his 3x leveraged short positions in CASHCAT and PONS over the past two hours.”
As of that September 14 update, Loracle’s combined 3x short position in CASHCAT and PONS was approximately $20.74 million in notional value.
“His current combined position value is approximately $20.74 million, with an unrealized profit exceeding $5 million—after previously facing a maximum unrealized loss of $6.3 million.”
A second September 14, 2026 TradingBeats‑based update reports that Loracle, via Hyperliquid sub‑address 0xefe4...194b, slightly and steadily reduced his PONS and CASHCAT short positions while remaining the largest short holder.
“HuoXing Finance reports that, on September 14, according to data from TradingBeats (formerly Hyperinsight), Oracle, the largest short position holder on Hyperliquid via sub-address 0xefe4...194b, has slightly and steadily reduced its…”
As of the same September 14 snapshot, Loracle’s 3x leveraged PONS short was approximately $15 million in size, with an average entry price of $0.665 per token.
“his PONS short position is approximately $15 million, with an average entry price of $0.665, generating an unrealized profit of about $3.298 million.”
By September 14, Loracle’s 3x leveraged CASHCAT short was approximately $5.74 million in size, with an average entry price of $0.207 per token.
“His CASHCAT short position stands at approximately $5.74 million, with an average entry price of $0.207, yielding an unrealized profit of about $1.712 million;”
In that September 11 Odaily snapshot, Loracle’s CASHCAT short was approximately $5.93 million with an average entry price of $0.207, yielding about $1.58 million in unrealized profit, while his PONS short was approximately $15.75 million at $0.665 average, yielding about $2.69 million in unrealized profit.
“Among these, the CASHCAT short position is approximately $5.93 million, with an average entry price of $0.207, yielding an unrealized profit of about $1.58 million; the PONS short position is approximately $15.75 million, with an average…”
Three days earlier, on September 11, 2026, Odaily reported that Loracle’s combined 3x leveraged CASHCAT and PONS short position was approximately $21.68 million, with unrealized profit then above $4.2 million after a prior $6.3 million unrealized loss.
“Odaily News: Trader Loracle opened 3x leveraged short positions on CASHCAT and PONS, with a combined short position value of approximately $21.68 million.”
CABAL DESK is reporting, written with AI under human oversight. Every bracketed number opens its receipt: the source, the quoted span, the hash. Headlines and characterisations are commentary; the sourced facts are the receipts. Not investment advice. Corrections log. Editorial & legal.