"Abraxas Capital" continues to increase ETH short positions, currently with a total funding fee settlement profit of $39.26 million.

BlockBeats News, January 13 — According to HyperInsight monitoring, an address marked as Abraxas Capital (0x5b5) has been continuously increasing its ETH short positions at a price of $3,107. The total increase is approximately 566 ETH (about $1.75 million), with the position size expanding to $38.2 million, an average price of $3,248, and a liquidation price of $119,000. In addition, it also holds an HYPE short position worth about $31.64 million, with an unrealized profit of $22.9 million. The address’s short position has accumulated a profit of $39.26 million through funding rate settlements.

According to further monitoring, Abraxas Capital’s ETH short positions were established starting in May, previously being the largest contract fund whale on Hyperliquid. Since November, this address has been continuously taking profits from ETH short positions, with the position size previously around $267 million, and nearly $240 million has been closed so far.