Abraxas Capital continues to increase its short position in ETH, with the total funding rate settlement reaching a profit of 39.26 million USD

According to monitoring by HyperInsight, the address marked as Abraxas Capital (0x5b5) has been continuously increasing its short position in ETH at $3,107. The total accumulation is approximately 566 ETH (about $1.75 million), expanding the position size to $38.2 million, with an average price of $3,248 and a liquidation price of $119,000. Additionally, it holds a short position in HYPE worth about $31.64 million, with an unrealized profit of $22.9 million. The address has cumulatively profited $39.26 million from the short position through funding rate settlements.

Furthermore, monitoring indicates that Abraxas Capital's ETH short position was established in May, previously being the largest contract fund size whale on Hyperliquid. Since November, this address has been continuously taking profits from the ETH short position, with the previous position size being about $2.67 billion, and it has now cumulatively closed nearly $2.4 billion.