UNITREE's Hyperliquid perpetual contract climbed 10.94% in 24 hours in an Oct. 19 snapshot, while negative funding sent payments from short traders to long holders, TradingBeats monitoring showed.
The contract was priced at $69.796. Across the day, the cumulative reading was -0.1883%; TradingBeats' two hourly observations were -0.0850% and -0.1249%, with a combined value of -0.2099%.
Hyperliquid's rules say a rate below zero means short holders pay long holders. The exchange says funding is designed to encourage perpetual prices to track the underlying asset. Hyperliquid's hourly cycle differs from Binance's four-hour UNITREEUSDT schedule, as outlined in EconoTimes' earlier comparison of UNITREE funding intervals.
TradingBeats linked the largest reported long to an address displayed as 0x6910 and said it held about 89,500 UNITREE, with an average entry of $89.46. The outlet put the position's unrealized loss at about $1.7187 million. TradingBeats said the quote was about 22% below the position's stated $89.46 entry price.
TradingBeats' readout showed $12.83 million in turnover over the prior 24 hours. It placed notional open interest at $18.5 million.
