Unitree contract up 7.87% in 24 hours... no stock ownership

Binance’s UNITREEUSDT perpetual contract, which tracks the share price of Unitree Robotics (688836) rather than conferring equity ownership, traded at 106.26 USDT on April 10 at 01:03, up 7.87% over 24 hours, with a 24-hour range of 97.88–109.50 USDT and $59.18 million in turnover, according to Finderside. Positioning was heavily bearish, with shorts accounting for 70.1% of accounts holding the contract and 63.6% of top-trader positions, even as one-hour taker buy volume made up 65.2% of executions. The split between crowded short positioning and recent buy-side flow sets up a potential squeeze, and the next thing to watch is whether the contract can hold above the 97.88 USDT low as traders adjust exposure.