UNITREE Perpetual Contracts Rise 30% in Two Days as Funding Turns More Negative

UNITREE perpetual contracts on Hyperliquid rose 30% over two days while the hourly reference funding rate fell to -0.11909%, increasing funding pressure on short sellers.

The contract traded at $80.285, up 13.82% in 24 hours and 11.17% from midnight, after reaching $81.745. The reference four-hour rate for UNITREE on Binance was -0.49352%.

Seventeen of the last 24 funding settlements on Hyperliquid were negative, bringing the cumulative rate to about -0.66825%. Three early-session settlements moved lower in sequence: -0.00899%, -0.03241% and -0.03902%.

UNITREE’s 24-hour trading volume was about $42.86 million, and notional open interest stood near $20.99 million across roughly 261,400 contracts. Notional open interest rose 14.14% from the previous day even as the number of contracts declined 0.48%.

Two traders with positions worth at least $1 million each held about $8.31 million combined, with a weighted average entry price of $90.41. The pair remained underwater by about $1.0476 million combined. Unitree has an ecosystem conference scheduled for Oct. 22.