Abraxas Capital’s $1.29B Short Positions Target Funding Fees

Crypto asset manager Abraxas Capital has made more than $353 million in profit across two main accounts on the decentralized perpetual exchange Hyperliquid. According to on-chain data from Lookonchain, the firm currently holds net short positions worth more than $1.29 billion. One account has generated approximately $199.6 million in profit, while the other has made $153.6 million. Abraxas Capital’s 2 hedging accounts on Hyperliquid have made over $353M in total profit! They currently hold over $1.29B in short positions.

Source: DeFi Planet