A trader transformed $6,800 into $1.5 million in two weeks using a high-frequency, delta-neutral strategy, avoiding typical memecoins and ETF hype. This tactic involved becoming a major liquidity source on the decentralized perpetuals exchange Hyperliquid. Through precise execution, tight exposure limits, and a focus on market volatility rather than price prediction, the trader achieved a remarkable 220x return. Employing a one-sided quoting system, the strategy maintained minimal market exposure while leveraging maker fee rebates on substantial trading volume. By adhering to a disciplined approach, the trader managed to keep net exposure under $100,000 and withdrew profits consistently. Despite impressive earnings, the setup comes with risks, including infrastructure vulnerability and regulatory challenges, making such strategies hard for retail traders to replicate. Overall, this case highlights a shift toward sophisticated liquidity provision in crypto markets, where competitive advantages are gained through speed and technical proficiency.

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