Fasanara-linked account holds $38M BTC short, $21M ETH long

A Hyperliquid account identified on the platform as BobbyBigSize and linked by Arkham data to London-based asset manager Fasanara Capital opened a $38 million short position in Bitcoin and a $21 million leveraged long position in Ether within the past week on Hyperliquid.

The account uses algorithmic trading and has executed large volumes on the exchange, with historical activity reaching about $11 billion in trades. It currently holds roughly $19.4 million deposited on the platform. Performance records show about $159 million in profits over the past seven months and a $561,000 loss in the last 30 days. Hyperdash data indicate 63% of its trades have been profitable. The average trade duration has been slightly longer than two weeks while the median position lasted under four days.

Market data show Bitcoin traded near $78,000 on Friday after a roughly 29% gain since a yearly low of $60,100 on Feb. 6. On Hyperliquid, funding rates for BTC and ETH were slightly positive, indicating moderate demand for leveraged long positions on that platform. Funding rates on major futures platforms Binance and Bybit were negative, consistent with higher demand for leveraged short exposure on those exchanges. Under neutral conditions on Hyperliquid, longs typically pay about 6% to 12% annualized to hold positions.

Arkham and on-chain data show the account placed aggressive leveraged short bets during the market downturn in October and November 2025 across Ether, Hyperliquid’s native token and Avalanche, among other assets. Those trades contributed to past gains; recent results include losses over the last two months.

Public filings and Arkham-linked data associate the address with Fasanara Capital, a London-based institutional manager that reports more than $5 billion in assets under management. Fasanara Digital, launched in 2018, lists about $400 million under management across market-neutral strategies and venture investments. The firm’s quantitative multi-manager arm manages roughly $150 million. The firm has not publicly described a specific cryptocurrency strategy tied to the Hyperliquid account.

The account’s current large short in Bitcoin alongside a sizable Ether long sits against a negative funding-rate environment on some major futures platforms. The reporting here describes positions, account history and funding-rate differences across venues without projecting market outcomes.