Whale Abraxas Capital Adds More ETH Shorts: Position Size Surpasses $38 Million, Funding Rate Has Earned $39.26 Million

GasFeeLady · 2026-01-13T05:20:11+00:00

According to on-chain monitoring data, Abraxas Capital's address recently increased its ETH short positions to $38.2 million, with an average price of $3,248, and profited $39.26 million in funding rate settlements. The address has been continuously adjusting its positions, taking profits since November, indicating a firm outlook on ETH's future market.

GasFeeLady

2026-01-13 05:20:11

Abstract generation in progress

【Crypto World】According to on-chain monitoring data, the address marked as Abraxas Capital (0x5b5) has recently taken new actions. This whale continued to increase its ETH short positions around January 13, adding approximately 566 ETH at a price level near $3,107 (worth about $1.75 million).

Currently, the total size of this address’s ETH short positions has expanded to $38.2 million, with an average price of $3,248, and a liquidation price as high as $119,000. It’s clear that this whale has a very confident outlook on ETH’s future market. In addition to ETH shorts, Abraxas Capital also holds about $31.64 million worth of HYPE short positions on Hyperliquid, with floating gains reaching $22.9 million.

More interestingly, this address has already earned $39.26 million through funding rate settlements — indicating continuous harvesting of longs’ fees during the short position holding period. Looking back, this address started building ETH shorts as early as May and was once the largest participant in Hyperliquid’s contract funding. Since November, Abraxas Capital has gradually closed positions, reducing its original ETH short scale of about $267 million to the current level, with nearly $240 million in total closed positions, making it a case of winning while running.

ETH5,24%

HYPE7,32%

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GateUser-1a2ed0b9

· 17h ago

This whale is really bold. They dare to hedge a 38 million short position so openly. Aren't they afraid of liquidation?

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ForeverBuyingDips

· 19h ago

38 million short positions? This guy's really bold, betting on ETH to drop so aggressively.

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LootboxPhobia

· 01-13 05:48

Wow, this whale is really playing big, with over 38 million in short positions... I'm a bit scared, the liquidation price is way far from the current price, I don't know how it's so confident.

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PretendingToReadDocs

· 01-13 05:44

This whale really has guts. They just pushed 38 million in short positions, and I really don't dare to play like that.

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HappyToBeDumped

· 01-13 05:31

$38 million short position, this guy really dares to bet, a liquidation price of $11,900 feels a bit outrageous.

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GasOptimizer

· 01-13 05:27

$38.2 million short position, liquidation price at 119,000? This guy definitely understands arithmetic when it comes to leverage, but it seems like the volatility model is overestimating its predictive ability.

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