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Abraxas Capital Expands WTI Short Position to $14.96 Million

Abraxas Capital Expands WTI Short Position to $14.96 Million

Abraxas Capital’s Hyperliquid WTI short positions moved into profit after WTI fell below $93, with combined 10x leveraged shorts reportedly reaching $27.8 million.

HYPE

Fact Check
The claim accurately reflects the sequence of events reported by financial news outlets monitoring Hyperliquid on-chain data. The $14.96 million figure refers to the sub-address's position as of March 17, while the $27.8 million figure refers to the total combined position across two addresses reported on March 18 when the price fell below $93.
    Reference: 12
Summary

Abraxas Capital’s two WTI-related short positions on Hyperliquid turned profitable after WTI fell below $93. According to the new update, the firm built $27.8 million in 10x leveraged CL short positions from March 16 through last night. Its main address showed about $120,000 in unrealized profit, while a sub-address showed about $170,000. This adds to earlier reports citing smaller or differing position sizes on Hyperliquid, so the reported figures now indicate a larger combined short exposure than previously described.

Terms & Concepts
  • Hyperliquid: A blockchain-based trading platform that supports on-chain leveraged trading and derivatives activity.
  • 10x leveraged shorts: Short positions opened using 10 times leverage, which amplifies both potential profits and potential losses.
  • Unrealized profit: A paper gain on an open position based on current market prices that has not yet been locked in by closing the trade.