Abraxas Capital's short order accumulated unrealized losses exceed 190 million USD, and the funding rate revenue exceeds 28 million USD.

On August 10, according to monitoring by lookonchain, two accounts of Abraxas Capital are shorting ETH, BTC, SOL, HYPE, and SUI, with total unrealized losses exceeding $190 million. They hold a short order of 113,819 ETH (worth $483 million), with losses exceeding $144 million. However, it is worth noting that previous analyses indicated that the short orders opened by Abraxas Capital are actually spot hedging accounts, and this series of short orders had also generated huge unrealized gains during the market downturn. At the same time, the funding rate earnings from the short orders exceeded $28 million.