「Abraxas Capital」 continues to add to its ETH short position, with the total funding rate settlement currently resulting in a $39.26 million profit

BlockBeats News, January 13th, according to HyperInsight monitoring, an address labeled as Abraxas Capital (0x5b5) continued to add to its ETH short position at $3107. It accumulated approximately 566 ETH (about $1.75 million), expanding its position to $38.2 million, with an average price of $3248 and a liquidation price of $119,000. Additionally, it also holds a short position in HYPE of around $31.64 million, with an unrealized gain of $22.9 million. The address has accumulated a profit of $39.26 million through funding rate settlements on its short ETH position.

According to monitoring, Abraxas Capital's ETH short position started building in May, previously being the largest whale in Hyperliquid's contract fund size. Starting in November, the address consistently took profits on its ETH short position, with the position size previously around $267 million, and has now closed nearly $240 million.