Binance's UNITREE contract funding rate hits an extreme negative value of -1.12%

BlockBeats news, October 26 - According to market data, as A-share Unitree Technology surged 18% during intraday trading, the funding rate (4-hour) for the UNITREE USDT contract trading pair on Binance reached -1.12%, implying an annualized funding rate of 2452.8%. If the funding rate remains unchanged (as of press time, it has widened to -1.16%), traders shorting with 10x leverage would, even if the contract price stays the same, theoretically lose their entire principal within 1.5 days due to funding fee payments at this rate.