Abraxas Capital Whale Arbitrage Gold Annualized Return Reaches 25.9%, with a 10.2% ROI based on the Funding Rate

BlockBeats News, June 26th, according to Hyperinsight monitoring, the whale Abraxas Capital, who has long been earning funding rate carry trade on the gold target through short positions, is currently shorting GOLD with 5x leverage, with a position size of approximately $3.51 million, having held the position for 144 days and maintaining this scale long-term. During this period, the funding rate settlement has accumulated to $359,000, equivalent to 10.2% of the principal; excluding specific minor adjustments, the annualized return rate is about 25.9%.

Overall, the on-chain whales are leaning bearish (potentially due to arbitrage and hedging positions), with a total nominal size of short positions of around $39.3 million, which is 1.56 times the long positions ($25.2 million). However, when excluding data from large position holders, the funding rate has mostly been positive (indicating a market long bias), providing a stable source of fee income for short position hedging.