Abraxas Capital Suffers $100 Million Unrealized Loss on Perpetual Contracts

Abraxas Capital, a prominent player in the crypto market, has incurred significant unrealized losses on its perpetual contract positions. According to a report by Onchain Lens on September 21, Abraxas holds nearly entirely short positions worth approximately $704 million. This has resulted in an unrealized loss of about $101 million.

The largest contributors to the losses are ETH shorts, which have incurred around $41.23 million in unrealized losses, followed by BTC with a loss of $23.36 million. HYPE and SOL shorts also recorded significant losses, at $17.05 million and $15.76 million respectively.

The historical cumulative profit and loss for Abraxas remains at approximately $79.06 million in profit, despite the current losses.