# Abraxas Capital Accounts Reach $429 Million in Hyperliquid Profits By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/52590 Published: 2026-11-09T22:09:31.000Z Updated: 2026-11-09T22:09:31.000Z Section: Investing > The two accounts held $1.05 billion in short positions as of Nov. 9, compared with more than $1.29 billion in an Oct. 25 snapshot. The two Hyperliquid accounts linked to Abraxas Capital had combined cumulative profits of $429 million and short positions of $1.05 billion as of Nov. 9. The profit total was above the more than $353 million recorded in a [snapshot of the accounts on Oct. 25](). That snapshot showed short positions above $1.29 billion. A [Nov. 8 snapshot]() put the accounts' short positions at $451.68 million. Abraxas has used a market-neutral strategy since 2018, shorting crypto holdings to limit exposure to price swings and collect funding payments. On Hyperliquid, the accounts' cumulative activity includes $9.8 billion in volume and five million fills spanning 37 markets; they have also received more than $66 million in funding payments. Their position sizes have shifted with funding rates, and the firm's Hyperliquid short positions previously reached a $1.57 billion notional peak in October 2025. ## Links in this article - [snapshot of the accounts on Oct. 25](https://www.tokenpost.com/news/investing/40762) - [Nov. 8 snapshot](https://www.tokenpost.com/news/investing/52307)