A small crypto trader achieved an extraordinary return by turning $6,800 into $1.5 million in just two weeks through a sophisticated high-frequency trading strategy that was delta-neutral and leveraged maker fee rebates. By dominating liquidity on the decentralized exchange Hyperliquid, the trader executed over $20.6 billion in trading volume, primarily using automated market-making techniques. The strategy focused on precision execution and minimizing exposure risk by using one-sided quoting, which involved posting only bids or asks. This approach ensured a lean operation, enabling profit from slight market inefficiencies without relying on price predictions or leverage. The profits from the trading strategy, primarily generated through maker rebates, highlighted the potential for significant returns in crypto trading by exploiting structural inefficiencies. However, the strategy also carried inherent risks due to its reliance on infrastructure, speed, and precise execution, making it feasible only for traders with access to advanced technology and significant resources.

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