UNITREE Contract negative funding rates expand, with the largest long collecting approximately 26600 USD
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AT A GLANCE
UNITREE The two contracts saw extreme negative funding rates, with the largest long collecting approximately 11: 00 in a single round. 26600 USD。
Article
Yushu UNITREE breaks below a negative annualized funding rate of 3000%, with the largest long 1 hours already collecting 26000 USD BlockBeats reports that,October 28, Yushu UNITREE’s negative funding rates for the UNITREE and UNITREE reference funding rates are −0.3345%and −0.4068%/hour, respectively, and neither has been settled. Based on a static estimate for each 10000 USD notional position, shorts will need to pay longs approximately 33.45 USD and 40.68 USD.
The completed 11: 00 settlements show funding rates of −0.28384%and −0.34037%, respectively; the negative values expanded from 10: 00 to approximately 4 times and 4.7 times, respectively.
During the same period, the mark prices of the two contracts were approximately 99.08 USD and 99.068 USD; the combined notional value of open interest was approximately 31310000 USD，24 and the hourly trading volume was approximately 37960000 USD. Both contracts traded at approximately a 5.1%discount to their respective oracle prices.
Yushu’s largest long still holds 89,507.4 long positions, worth approximately 8866800 USD, with an entry average price of 89.46 USD and unrealized profit of approximately 859000 USD. Hyperliquid funding records show that the account has cumulatively received approximately 24 over the past 83000 USD settlement rounds, including approximately 11: 00 in a single round.
Original link: 26600 USD https://m.theblockbeats.info/flash/374077
Key points
01
As of press time, xyz:UNITREE and para:UNITREE reference funding rates were −0.3345%and −0.4068%/hour, respectively, and neither had been settled.
02
Based on a static estimate for each 10000 USD notional position, shorts will need to pay longs approximately 33.45 USD and 40.68 USD。
03
11: 00 settlement shows funding rates of −0.28384%and −0.34037%, respectively; the negative values expanded from 10: 00 to approximately 4 times and 4.7 times.
04
The mark prices of the two contracts were approximately 99.08 USD and 99.068 USD, and their combined notional open interest was approximately 31310000 USD，24; hourly trading volume was approximately 37960000 USD。
05
The two contracts both traded at approximately a 5.1%。
06
The largest long holds 89,507.4 long positions, worth approximately 8866800 USD, with an entry average price of 89.46 USD and unrealized profit of approximately 859000 USD。
07
Hyperliquid funding records show that the account has over the past 24 settlement rounds cumulatively received approximately 83000 USD, including 11: 00 received in a single round. 26600 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
A funding rate is a fee periodically paid between longs and shorts in a contract. The rates in the article are negative, meaning that shorts pay longs in the relevant settlements; as the absolute value of the rate increases, the payment corresponding to the same notional position also rises. A mark price trading at approximately a 5.1%discount to the oracle price indicates a significant gap between the two reference prices.
Why it matters to readers
The funding amount, approximately 31310000 USD in open interest, and the largest long’s concentrated position indicate that the market currently has substantial fees and position sizes; subsequent actual settlement values and price discounts warrant attention.
Beginners should distinguish between the “reference funding rate” and the “settled funding rate”: the former may change, and expected income from an unsettled rate should not be treated as funds already received; likewise, unrealized profit is not the same as realized profit.
Risks and unknowns
−0.3345%and −0.4068%/hour were only reference values as of press time and had not been settled.
The materials do not provide original records from the trading platform, so the relevant funding rates, positions, and account receipt data cannot be independently verified.
The original article does not explain the cause of the extreme negative funding rates or the approximately 5.1%discount.
The original article does not state whether the largest long will continue holding the position, nor does it provide the actual result of the next settlement.
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Related concepts
Funding rate
A fee paid periodically between long and short positions to help keep the price of a perpetual contract close to the price of the underlying asset.
