NEAR Shorts Squeezed as Price Surges to $5.37-$5.39

The largest NEAR shorts on Hyperliquid are currently facing significant losses as the price of NEAR has surged. The top short position is sitting on approximately $13 million in unrealized losses, with a notional value of around $22.78 million and using 3x leverage.

The leading long position, on the other hand, has seen substantial gains, with an estimated $17.35 million in unrealized profits. This whale is using 10x leverage and had a notional value of approximately $30.87 million as of September 30.

Two addresses holding short positions together have losses exceeding $25 million, with each facing losses above $12 million. The price of NEAR has climbed from the low-$2 range to around $5.37-$5.39 over the course of September, leading to a significant increase in activity and open interest.