Abraxas Capital faces unrealized losses exceeding $100 million According to Onchain Lens, Abraxas Capital currently holds nearly all short positions in perpetual contracts worth approximately $704 million, with unrealized losses of about $101 million. Specifically, ETH shorts show unrealized losses of around $41.23 million, BTC losses of about $23.36 million, HYPE losses of approximately $17.05 million, and SOL losses of roughly $15.76 million. Despite the significant unrealized losses, their historical cumulative P&L still stands at a profit of approximately $79.06 million.