Unitree UNITREE negative annualized funding rate exceeds 3000%, largest long position collects $26,000 in just 1 hour.

October 28 — The negative funding rate for UNITREE contracts has further widened. 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 be settled. Based on a static estimate per $10,000 notional position, shorts would need to pay longs approximately $33.45 and $40.68 respectively in the next round.

In the completed 11:00 settlement, the funding rates for the two contracts were −0.28384% and −0.34037%, with the negative magnitude expanding to roughly 4x and 4.7x compared to 10:00.

During the same period, the mark prices for the two contracts were approximately $99.08 and $99.068 respectively; combined open interest notional value is about $31.31 million, with 24-hour trading volume of approximately $37.96 million. Both contracts are trading at a discount of about 5.1% to their respective oracle prices.

UNITREE's largest long currently still holds 89,507.4 long positions, valued at approximately $8.8668 million, with an average entry price of $89.46 and unrealized profit of about $859,000. Hyperliquid funding fee records show that this account has cumulatively received a net of approximately $83,000 over the last 24 settlement rounds, including approximately $26,600 from the single 11:00 round.