Wintermute’s Annualized Auction Spending Nears $10 Million, but Profits Cannot Be Directly Attributed to Trading Priority

Wintermute spent about $824,000 on Hyperliquid trading-flow priority auctions over the past 30 days, equivalent to an annualized rate of about $10 million. According to Odaily, Psyche said Wintermute’s accounts have recorded about $229.7 million in cumulative profits since 2024, with about $204 million earned before the auction mechanism launched in April 2026. In the roughly seven months after its launch, the accounts gained about $25.6 million, while auction spending totaled about $3.58 million. The accounts also hold substantial perpetual-futures hedging positions, so their cumulative profits cannot be directly attributed to trading priority. Since November 11, Wintermute has reduced its bidding, lowering average daily spending from about $30,000 to about $10,000. Wallet attribution relies on third-party labels and was not disclosed by Wintermute.