'Abraxas Capital' Continues to Increase ETH Short Positions, Total Funding Rate Settlement Reaches $39.26 Million in Profit

BlockBeats News, January 13, according to HyperInsight monitoring, the address marked as Abraxas Capital (0x5b5) has been continuously increasing its ETH short positions at $3,107. A total of approximately 566 ETH (equivalent to $1.75 million) has been added, expanding the position size to $38.2 million at an average price of $3,248, with a liquidation price of $119,000. Additionally, it holds approximately $31.64 million in HYPE short positions, with unrealized profits of $22.9 million. The cumulative profit from funding rate settlements for the short positions at this address has reached $39.26 million. According to further monitoring, Abraxas Capital began building its ETH short positions in May and was previously the largest whale in terms of contract funding size on Hyperliquid. Since November, this address has been continuously taking profits on its ETH short positions, with the position size previously around $267 million. To date, it has cumulatively closed nearly $240 million in positions.