Unitree Robotics opened its online and offline subscription for a STAR Market listing on Aug. 10, according to TradingBeats, formerly Hyperinsight. The company is using stock code 688836 and plans to issue 40.446 million shares, equal to 10% of its post-offering share capital.
On the same day, the UNITREE pre-IPO contract on Hyperliquid extended its decline. The contract was quoted at $81.9, down about 5.3% over the past 24 hours and roughly 10.6% below the recent high of $91.6 set on Aug. 7. Trading volume over the past 24 hours was about $392,000, while open interest stood at about $3.932 million.
Short exposure was heavily concentrated
Monitoring data showed 175 long positions and 150 short positions in UNITREE, putting the long-to-short headcount ratio at about 1.17:1. Even so, short exposure was unusually concentrated in one address.
The largest short, identified as address 0x091, held a position worth about $924,000. That was close to 47% of total short-side exposure and about 5.4 times the size of the largest long address. The address was short 11,307.7 UNITREE contracts with an average entry price of $82.3 and an unrealized profit of about $6,000.
Its position value, at roughly $924,000, was about 2.4 times the contract's 24-hour trading volume. The liquidation price was around $162.6, and isolated margin posted for the position was about $1.006 million.
Open interest eased over 24 hours but stayed well above the level three days earlier
UNITREE open interest fell about 2.6% over the past 24 hours, but it was still up about 50.6% versus three days earlier. The data suggested that the large positions built earlier had not exited, with only light deleveraging during the day.
Funding metrics also shifted. Cumulative funding over the last 24 hours was about -0.0004%, compared with about +0.0078% in the previous 24-hour period. The current hourly funding rate was around -0.0007%, while the contract premium indicator was about -1.05%.
A separate block of deep bids appeared in the book
TradingBeats also flagged a set of low buy orders in the order book. An address beginning with 0x727 had no open position, but placed 100 buy orders between $20 and $65. The plan was to buy 8,921 UNITREE, with total notional value of about $379,000 and a weighted average bid price of about $42.5. The highest bid in that ladder was still about 20.6% below the current market price.
TradingBeats said its on-chain perpetuals and address analysis tool is now live, allowing users to track Hyperliquid data in real time and review address activity and whale positioning.