Abraxas Capital Faces Over $100 Million Unrealized Loss on $704 Million Perpetual Contract Position

On September 21, Onchain Lens reported that Abraxas Capital currently holds a nearly entirely short position in approximately $704 million worth of perpetual contracts, resulting in an unrealized loss of about $101 million. Among these, the unrealized loss for ETH shorts is approximately $41.23 million, for BTC is about $23.36 million, for HYPE is around $17.05 million, and for SOL is about $15.76 million. Despite the significant unrealized losses, the historical cumulative profit and loss remains at approximately $79.06 million in profit.