A small crypto trader made $1.5 million in just two weeks thanks to a smart, automated market-making strategy.
- Trader used a delta-neutral, high-speed trading bot on Hyperliquid.
- Strategy focused on collecting maker rebates, not guessing market moves.
- Over $1.4 billion in volume passed through one wallet without major risk.
A New Kind of Crypto Trading Strategy
This trader did not buy coins hoping their prices would rise. Instead, they used a delta-neutral approach. That means they didn’t bet on market direction. They made money from price changes by placing orders that helped other traders buy or sell.
The system was built on maker rebates, which are tiny rewards that exchanges give to users who add liquidity. The trader earned about $0.03 for every $1,000 traded — but did this billions of times with automation.
The Role of Hyperliquid
The strategy happened on Hyperliquid, a fast-growing decentralized exchange for perpetual futures. A wallet named “0x6f90…336a” was tracked trading here since early 2024, with a starting amount under $200,000.
By mid-2025, this wallet had processed more than $20.6 billion in trades and provided over 3% of the exchange’s maker volume. This got the attention of other traders who began calling the trader a “liquidity ghost.”
How the Profits Were Made
The method used was very structured. It included:
- One-sided quoting — placing either a buy or sell order, but not both.
- Latency-optimized bots — super-fast trading bots that use colocated servers.
- Discipline — keeping the risk level below $100K, even while moving billions.
The key was scale. With $1.4 billion in volume and a 0.0030% rebate, the trader could earn around $420,000 from rebates alone. Profits were reinvested automatically, creating rapid growth.
Why Most Traders Can’t Copy This
This trading method is hard to reproduce. It needs:
- Advanced coding skills and bots synced to exchange data.
- Special server connections for fast execution.
- Strong risk controls to avoid losses during volatile moves.
Retail traders usually can’t access this kind of infrastructure, so the barrier to entry is high.
Risks and Challenges
This system is powerful, but not perfect. If a bot crashes or an exchange malfunctions, trades could fail. When markets move fast, other traders might take advantage of predictable behavior in the quote system. Also, changes in rules or technology on exchanges could break the strategy.
The Future of Delta-Neutral Crypto Trading
This success story shows how delta-neutral, rebate-based trading is growing in crypto. Traders aren’t just guessing prices; they’re building systems to use the market itself for profit.
As exchanges grow and automation improves, trading may become more about skill and code than luck or trends.
Source: cointelegraph.com
