Tracking the Short ETH journey: How ETHMegaBear accumulated 80 million USD in 2 years

HalfBuddhaMoney · 2026-02-14T04:06:33+00:00

ETHMegaBear, a trader known for his contrarian strategies, has made an impressive $81.25 million by shorting ETH over two years. Despite current risks, he continues to hold a significant short position, leveraging market volatility to generate passive income through funding fees.

HalfBuddhaMoney

2026-02-14 04:06:33

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While most markets are rapidly betting on a bullish growth, an independent trader who previously gained attention for misreading the market and profiting enormously has just revealed their profit and loss (PnL) statement, leaving speculators stunned.

Trading Profile: $80 Million from a 2-Year Short ETH Strategy

ETHMegaBear has recorded a total net profit of $81.25 million USD. This impressive figure comes from consistently shorting ETH on decentralized exchanges since 2024. In the early stages, the trader used extremely aggressive leverage at 50x, later adjusting down to 25x to better manage risk. This decision reflects a long-tested, proven strategy.

Continuing Short Strategy: Numbers Show Determination

To date, ETHMegaBear has not retreated but instead continues to increase demand for short positions with a massive holding. Their current orders include:

Short position size: 30,582 ETH
Contract value: $88.62 million USD
Entry price: $3,116.99
Unrealized profit: $6.7 million USD

A notable detail from the trading profile is the funding fee, where ETHMegaBear is benefiting +$6.90 million USD. This means, beyond profits from price movements, the trader earns additional fees paid by long traders, turning holding the position into a passive income stream.

Comparing Current Price with Historical Journey

As of now (February 2026), ETH is trading at $2.05K. Compared to ETHMegaBear’s entry price of $3,116.99, this decline creates a favorable environment for continuous shorting. Over just two years, the trader’s goal is to capitalize on volatility cycles to accumulate profits.

Dangerous Threshold: Liquidation Price at $3,864.43

However, high profits always come with deadly risks. With 25x leverage, ETHMegaBear’s short position has a liquidation price at $3,864.43. If ETH experiences a strong rebound surpassing this threshold, the entire current asset value of over $32 million USD will be liquidated immediately. This could be a blow to the reputation built over the past two years.

ETH6.31%

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