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Unitree’s negative annualized funding rate tops 3000%, with the largest long position holder collecting $26,000 in just one hour.

1 hours ago

Unitree contracts’ negative funding rates have widened further. As of press time, the reference funding rates for xyz:UNITREE and para:UNITREE stand at -0.3345% and -0.4068% per hour respectively, both yet to settle. A static estimate per $10,000 notional position shows that short positions will need to pay roughly $33.45 and $40.68 to long positions respectively in the next settlement round. In the completed 11:00 settlement, the two contracts’ funding rates were -0.28384% and -0.34037% respectively, with their negative magnitude expanding to around 4x and 4.7x compared to the 10:00 settlement. During the same period, the contracts’ mark prices were approximately $99.08 and $99.068 respectively; their total open interest notional value is around $31.31 million, with 24-hour trading volume of roughly $37.96 million. Both contracts trade at a discount of around 5.1% relative to their respective oracle prices. Unitree’s largest long position holder currently holds 89,507.4 long contracts, valued at approximately $8.8668 million, with an average entry price of $89.46, generating an unrealized profit of around $859,000. Hyperliquid’s funding rate records show this account has accumulated a net inflow of roughly $83,000 from the last 24 settlement rounds, with the 11:00 round alone bringing in around $26,600.

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