Crypto Whales Short $138M Oil on Hyperliquid — Abraxas Capital Bets Against Brent at $105
Abraxas Capital opened a $135M short on crude oil via Hyperliquid HIP-3 markets while Brent trades above $105. Trader loraclexyz adds $3M short after $25M HYPE profit.
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Launch Free Terminal →Some of the most sophisticated crypto-native capital is now betting against oil prices on Hyperliquid, even as Brent crude trades above $105 per barrel due to Iran conflict disruptions at the Strait of Hormuz.
The Abraxas Position
London-based hedge fund Abraxas Capital, an FCA-regulated firm that has pivoted to digital asset strategies, has built a $135 million notional short across Brent and WTI crude on Hyperliquid's HIP-3 tokenized markets. The position is split across approximately 955,000 xyz:BRENTOIL contracts ($102.7M) and 323,000 xyz:CL contracts ($32.7M), using 5-10x leverage.
Abraxas has prior history of profitable trading on Hyperliquid, with one wallet reportedly generating over $166 million in cumulative profits.
The loraclexyz Trade
Separately, the trader known as loraclexyz — who made roughly $25 million longing HYPE tokens in January-February — has opened a $3 million short in Brent crude. The move signals potential capital rotation from crypto-native assets into macro commodity bets.
Why This Matters for Traders
These positions suggest that sophisticated players are betting on mean reversion in oil prices — expecting either diplomatic progress on Iran or a correction from the current supply-panic spike. If they are right and Brent drops from $105 toward $85-90, these shorts generate massive returns.
The HIP-3 markets on Hyperliquid enable exactly this kind of trade: traditional commodities traded 24/7, no KYC, on-chain order book. Oil, gold, silver, S&P 500, NASDAQ, and individual stocks are all available.
Track It on Buildix
On Buildix, you can see HIP-3 pairs in the dedicated tab — including xyz:CL (crude oil) and xyz:BRENTOIL. The orderflow signals show whether buy or sell pressure dominates these tokenized commodity markets in real-time.
Monitor whale positions on HIP-3 commodity markets via Buildix Screener — orderflow analytics for crypto and tokenized assets.