Trade.xyz to Repay Traders Hit by SK Hynix Price Anomaly

Trade.xyz plans to reimburse eligible liquidation losses tied to an SK Hynix (SKHYNIX) mark-price dislocation on Hyperliquid. The incident occurred when a trade on an external market was relayed through multiple independent data providers, causing the mark price of the contract to drop from $1,127.90 to $917.25 at 23:01 UTC on Monday.

Trade.xyz attributed the move to an external market print that flowed into its oracle, not to changes in its own order book. The affected contract is a high-activity Hyperliquid market, with $1.5 billion+ in 24-hour volume and about $600 million open interest shown by Hyperliquid data.

Trade.xyz said it will review how it forms prices during extreme events, including whether to weight its own order-book liquidity more heavily. The operator emphasized that the oracle 'worked as intended according to its specification,' but acknowledged trader frustration and framed its response as a 'one-time discretionary decision' to cover eligible liquidation losses.