- Abraxas Capital holds $472M+ in total short positions on Hyperliquid perpetuals
- BTC short: $126M
- ETH short: $120M
- SOL short: $73M
- HYPE short: $72M
- 24-hour PnL: +$21M, confirming shorts are currently profitable as prices declined
- Portfolio runs at 5.23x leverage with wallet equity above $200M
- SOL trading at $103.62, down 3.38% in 24h at time of writing
Institutional trading firm Abraxas Capital is currently sitting at the top of Hyperliquid’s 24-hour perpetuals leaderboard, having accumulated $472M+ in short positions across major crypto assets — and banking $21M in profit within a single trading day, according to data flagged by @HyperliquidNews on August 29, 2026.
Position Breakdown
The wallet identified as belonging to Abraxas Capital carries the following short exposure on Hyperliquid perpetuals:
- $126M short on Bitcoin (BTC)
- $120M short on Ethereum (ETH)
- $73M short on Solana (SOL)
- $72M short on Hyperliquid (HYPE)
Combined, the portfolio carries 5.23x leverage and has been flagged with a “Very Bearish” bias on the platform. Wallet equity is reported above $200M.
What the Chart Shows
According to the leaderboard snapshot cited by @HyperliquidNews, the +$21M in 24-hour PnL confirms that these short positions are currently in profit — meaning prices across BTC, ETH, SOL, and HYPE have moved downward during the period. At 5.23x leverage, the scale of gains underscores the conviction behind the positioning. As noted in our coverage of Bitcoin dropping below $77,000 with $200M in longs liquidated in 60 minutes, the broader market has been under significant selling pressure.
Market Context
The Abraxas Capital short book appears to be benefiting from a risk-off session tied to hawkish macro commentary, with Bitcoin retreating to approximately $77.8K during the same window. ETH was reported near $2,442 and SOL near $104.3. At the time of writing, SOL is trading at $103.62, down 3.38% in the past 24 hours, reflecting broader market weakness. The overall crypto market capitalization reportedly declined roughly 2.77% in the same period.
This type of concentrated, leveraged short positioning across the top assets simultaneously from an institutional-grade firm is a notable bearish signal. Unlike retail-sized trades, an operation of this scale — with over $200M in wallet equity and $472M in notional short exposure — carries material influence on sentiment and potential for cascading effects if the trend reverses. For context on Hyperliquid’s recent open interest trends, see our report on Hyperliquid HIP-3 open interest plunging over $1B to its lowest since July 27.
No Official Statement
No public comment from Abraxas Capital has been identified. All data originates from on-chain wallet monitoring and the Hyperliquid leaderboard snapshot. This reporting reflects observable wallet activity, not confirmed firm strategy.
Frequently Asked Questions
How much does Abraxas Capital have in short positions on Hyperliquid?
Abraxas Capital holds over $472M in short positions across BTC ($126M), ETH ($120M), SOL ($73M), and HYPE ($72M) on Hyperliquid perpetuals.
How much has Abraxas Capital made from these shorts in 24 hours?
The wallet has generated +$21M in profit over a 24-hour period, according to the Hyperliquid leaderboard snapshot cited by @HyperliquidNews.
What leverage is Abraxas Capital using on these short positions?
The portfolio is running at 5.23x leverage, with wallet equity reported above $200M.
Source: Twitter Hyperliquidnews · Published by CoinsProbe Markets Desk
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