TradingBeats, formerly Hyperinsight, said on Aug. 24 that UNITREE was trading at $90.38, down about 8.2% over the past 24 hours, while short crowding continued to build as the price moved lower. The token’s hourly funding rate was about -0.0442%, and its cumulative funding rate over the past 24 hours reached roughly -0.1275%, compared with -0.0165% in the previous 24-hour period. That puts the absolute value of the negative rate at about 7.7 times the earlier level.
The largest long, address 0x6910, is holding a 3x isolated long position of 45,500 UNITREE contracts with a position value of about $4.108 million. The entry price was $110, leaving the whale with an unrealized loss of about $892,000, a return of roughly -53.5%, and a liquidation price of $67.83. Since opening the position, the trader has collected about $70,900 in funding fees, though that still leaves around $821,000 of the mark-to-market loss uncovered.
At the current funding rate, a static calculation suggests the position could earn about $44,100 per day and roughly $1.322 million over 30 days, implying a monthly return of around 96.6%. On that basis, it would take about 18.6 days to offset the current unrealized loss. For comparison, CXMT was quoted at $8.43, down about 1.7% in 24 hours, with an hourly funding rate of about -0.0605%, or 1.37 times UNITREE in absolute terms.
UNITREE traded at $90.38 on Aug. 24, down about 8.2% over the past 24 hours, as short crowding increased with the price still moving lower, according to TradingBeats, formerly Hyperinsight.
The token’s hourly funding rate stood at about -0.0442%. Its cumulative funding rate over the last 24 hours was about -0.1275%, versus -0.0165% in the previous 24-hour period, with the absolute value of the negative rate expanding to roughly 7.7 times the earlier level.
Largest long remains deep underwater
The biggest long holder, address 0x6910, is running a 3x isolated long on 45,500 UNITREE contracts. The position is valued at about $4.108 million, with an average entry of $110. The unrealized loss is about $892,000, the return is roughly -53.5%, and the liquidation price is $67.83.
Since opening the trade, the address has collected about $70,900 in funding fees. After subtracting that income, about $821,000 of the $892,000 mark-to-market loss remains uncovered.
Static estimate at current funding rate
Using the current funding rate as a static assumption, the position could collect about $44,100 in funding fees per day and roughly $1.322 million over 30 days. That works out to an estimated monthly return of about 96.6%.
On the same static basis, it would take around 18.6 days to recover the current unrealized loss.
CXMT shows a steeper negative funding rate
For comparison, CXMT was trading at $8.43, down about 1.7% over the past 24 hours. Its current hourly funding rate was about -0.0605%, with the absolute value of the negative rate about 1.37 times that of UNITREE.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
