Unitree Prepares for IPO as Hyperliquid Traders Anticipate Significant Price Gains

The contracts traded only about 1.6% apart on average during overlapping hours, with recent prices hovering near $92 and $94, representing more than a 300% premium over the IPO price.

This fourfold premium suggests that Unitree’s debut could be spectacular, yet it may still expose leveraged bulls to steep losses.

“Unitree could open at twice its IPO price and still liquidate roughly one‑third of long positions,” analysts from Allium noted.

An opening around $45 — double the IPO price — would remain about 52% below the current perp price and could liquidate approximately 33% of long exposure, according to the analysts. Conversely, an opening near $128 (nearly six times the IPO price) might liquidate an estimated 53% of short positions, the report indicated. If the stock opens near today’s perp levels, no liquidation would occur.

On Trade.xyz, the larger market, exposure is nearly balanced, with $6.5 million long and $6.6 million short. Yet smaller traders are more bearish, with positions under $50,000 weighted 70% short by value.

“Any opening away from today’s price forces one side of the market to unwind,” Allium added.

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