Abraxas Capital shorted HYPE and made a full cycle profit of $301 million

According to Hyperinsight monitoring, the main short seller on the Hyperliquid platform, Abraxas Capital, shorted HYPE through two addresses and has already made a profit of $9.2 million from only fund rate settlement. At present, it holds approximately 473 million HYPE in spot trading and approximately 630 million HYPE short positions on the contract side. The cumulative profit from the settlement of all short position fund rates is 338 million US dollars, and the total size of short positions is approximately 141 million US dollars. The institution has been building positions since May last year, with a short position size of $920 million and a full cycle profit of $301 million. Address: 0x5b5d... C060, Address: 0xb83d... 6e36.