Abraxas Capital earns $428.5m profit from Hyperliquid hedging accounts
Abraxas Capital has reached a profit of $428.56m across two accounts on the Hyperliquid exchange. On-chain data shows the firm still holds $1.05bn in short positions.
Key takeaways
- 1Abraxas Capital realised $428.56m in profit from two Hyperliquid accounts.
- 2The investment firm maintains $1.05bn in active short positions.
- 3Hyperliquid Strategies reported $620.6m in third-quarter net income.
Abraxas Capital has generated $428.56m in total profit from two hedging accounts on the Hyperliquid decentralised exchange. On-chain data shows the firm reached this profit milestone on 9 November. The earnings come from trading strategies executed through the protocol's perpetual futures market.
The investment firm remains heavily positioned in the market despite the realised gains. It currently holds $1.05bn in short positions across its active accounts. These trades suggest a continued focus on hedging or directional bets against specific asset price movements within the Hyperliquid network.
Hyperliquid Strategies reported $620.6m in net income for the third quarter of 2026. This performance was largely driven by $803m in unrealised gains on its native HYPE token. The HYPE token was trading at $75.03 on 9 November. It has a market valuation of $18bn, making it the 11th largest cryptocurrency by market capitalisation.
The scale of these profits shows the growing liquidity and institutional use of decentralised perpetual platforms. Hyperliquid Strategies is currently seeking to expand its regulatory footprint by applying for a US futures commission merchant licence. Traders will watch whether Abraxas Capital maintains its billion-dollar short positions as the exchange moves towards formal registration in the United States.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.