Analysis: Abraxas Capital re-enters Hyperliquid to open large short positions or for neutral arbitrage strategies

CycleProphet · 2026-03-30T13:47:26+00:00

Abraxas Capital re-entered Hyperliquid after reducing its holdings, establishing large short positions through multiple accounts, possibly belonging to its Elysium Global Arbitrage Fund, continuing to employ a market-neutral arbitrage strategy. Previously, it shorted $32.7 million worth of WTI crude oil, $102.8 million of Brent crude oil, and $33.2 million of gold, with significant position sizes.

CycleProphet

2026-03-30 13:47:26

Abstract generation in progress

Deep Tide TechFlow message. March 30, according to MLM analysis: After Abraxas Capital reduced its position earlier, it has returned to Hyperliquid and established large short positions through two accounts. However, this latest setup is more likely part of its Elysium Global Arbitrage Fund, continuing its consistent arbitrage-strategy style. Overall, the positioning is more market-neutral rather than a one-directional bet.

It’s reported that Abraxas Capital previously shorted WTI crude oil worth about $32.7 million, Brent crude oil worth about $102.8 million, and gold worth roughly $33.2 million. These positions account for approximately 10.8%, 21.4%, and 18.4% of the corresponding markets’ open interest on the Hyperliquid platform, respectively—amounts that are notably large.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.