BlockBeats News, November 14: According to TradingBeats monitoring, Abraxas Capital’s two largest hedge accounts on Hyperliquid have now recorded combined profits of over $512 million, while their total short positions have fallen to $572 million.

Data shows:
Cumulative profit of the main account: $301.25 million, with $69.38 million in unrealized profit;
Cumulative profit of the hedging account: $219.43 million, with $61.16 million in unrealized profit;
The two accounts have combined unrealized profits of approximately $131 million;
Their current overall leverage is 3.91x and 3.60x, respectively.

Abraxas Capital, a London-based asset manager, previously held short positions worth over $1.45 billion. Its short exposure has now contracted to $572 million, a decrease of approximately 60.6%. From building short positions worth over $1.4 billion to racking up more than $500 million in cumulative profits, this months-long hedging trade has become one of the most closely watched institutional trading cases on Hyperliquid.