A wallet linked to Abraxas Capital held about $725 million in open Hyperliquid positions and had accumulated $193 million in perpetual-contract profit, a reported record for the account.
Its cumulative trading volume was $5.43 billion. It also held about $207 million in USD Coin (USDC), with additional spot positions in Bitcoin (BTC), Solana (SOL) and Ether (ETH).
Spot assets also sat in the wallet alongside its derivatives positions; the $193 million total therefore does not isolate profits from bets on price direction. EconoTimes previously reported that two Abraxas-linked accounts received more than $66 million in Hyperliquid funding payments through a strategy pairing crypto holdings with short positions. The earlier report on that strategy said it used liquid-staked Ether as collateral on Aave for stablecoin borrowing, with funds routed via Binance to Hyperliquid.
