Abraxas Capital's cumulative profit from ETH short positions reaches $39.26 million

According to HyperInsight monitoring, the address 0x5b5, labeled as Abraxas Capital, has been continuously increasing its ETH short positions at $3,107, accumulating approximately 566 ETH (about $1.75 million), with the position size expanding to $38.2 million at an average price of $3,248 and a liquidation price of $119,000. In addition, this address also holds about $31.64 million in HYPE short positions, with an unrealized profit of $22.9 million. The cumulative profit from funding rate settlements on these short positions has reached $39.26 million. Further monitoring shows that this address began building ETH short positions in May, started consistently taking profits in November, and has cumulatively closed nearly $240 million, with the previous position size around $267 million.