Prominent Short Seller 'Abraxas Capital' has accumulated a total profit of $301 million across all trades, with $33.83 million specifically generated from funding rate arbitrage.

BlockBeats News, June 4th, according to Hyperinsight monitoring, the Hyperliquid platform's main short seller "Abraxas Capital" has shorted HYPE through two addresses, realizing a profit of $9.2 million solely from funding rate settlements. Currently, the institution holds approximately $47.3 million HYPE spot on the exchange and about $63 million HYPE in short positions on the futures side.

Across all short positions (including BTC, ETH, and other currencies), it has accumulated a total profit of $33.83 million through funding rate settlements, with the current total short position size at around $141 million.

It is reported that Abraxas Capital's large short positions began accumulating since May last year and was once the largest whale in terms of contract funding on Hyperliquid, with short positions peaking at $920 million, resulting in a total profit of $301 million over the entire period.