Today, Unitree Technology closed at 687 yuan on the A-share market, dropping sharply by 18.7%. No wonder Wang Xing couldn’t smile at the bell-ringing ceremony yesterday. As we all know, A-shares don’t have a short-selling mechanism (for retail investors), so even if you predict the direction correctly, you can only watch helplessly. The crypto world is still leading in innovation. After checking around, I found that Gate @Gate_zh and several top exchanges have all launched Unitree’s perpetual contract UNITREEUSDT. But launching is one thing; quality is another. I pulled raw order book data from several top exchanges for comparison, focusing on the number of orders placed within 0.1% of the current price. This is the best indicator of real market depth: Gate $45,538 ranked first, followed by Exchange A $22,237, Exchange B $13,202, Exchange C $2,626, and Exchange D $1,985. Gate’s depth is 2.05 times that of the second place and 23 times that of the last place. What’s the value of being number one? Just look at the trading volume. Gate’s 24-hour trading volume was $40.16 million, while Exchange A’s was $119.67 million—three times higher. Achieving double the near-end depth with only one-third of the volume shows that the order book isn’t automatically stacked by trading volume; it depends on whether market makers are willing to invest. Here’s another interesting stat: Gate’s open interest was $6.41 million, which is 77% of Exchange A’s, and its turnover rate was the lowest among all. Low trading volume and high open interest suggest that traders on Gate are more inclined to hold their positions. It’s clear that Gate has been putting effort into stock-related perpetual contracts lately. If A-shares don’t give you the chance to short, just switch to another platform~! *** Order book data changes constantly. The data in this post was collected on August 20, 2026, at 16:56. Rankings are for reference only.