like buying futures long position(leverages) at $10 and driving spot price(by huge capital) to upwards like something about $10.5 and selling futures at $10.5 and making profits because of leverage.
do institutions or whales trade like that?
Hmm, buddy it can be answered in many ways I would like to answer it with the trading pair because the volume is the key to manipulating the pair you need to have enough capital to compete with the volume suppose you are competing with a pair having a volume of the $1B you need to have at least a reasonable amount like $100M or $200M to drive the market according to your own appetite. Similar to the market capital of the Coin. If you want to manipulate the market you need the supply at least a reasonable amount as in the case of BTC if you want to manipulate the market in situations like now you need at least 20K BTC to 30K BTC.
For the answer to your query, I think no whales ever trade like that, even most of whales are considered as the long term holders.