Quantority
4 4 · perps
Price · 1h
4 across exchanges
| Exchange | Funding APR | Open interest | OI share |
|---|---|---|---|
B Binance | +10.95% | $3.18M | 62% |
B Bybit | +10.95% | $1.11M | 22% |
B Bitget | +10.95% | $839.7K | 16% |
Funding annualized per venue interval; open interest is the latest reading per exchange. No fresh per-venue reading from OKX right now — the cross-exchange totals above still include every venue's last data.
Interpretation
4's derivatives market shows modest positioning with a leverage risk score of 14, indicating relatively low structural fragility. Open interest stands at $5.2M, and both the 24-hour and 7-day changes reflect recent deleveraging, with positions declining 7.1% and 5.1% respectively. This unwinding suggests traders are reducing exposure rather than building concentrated bets.
The aggregated funding rate of 10.04% annualized places long holders in a cost position, but at a funding percentile of 32 over the past 90 days, this rate sits below the recent median—meaning current conditions are not stretched by 4's own standards. The balanced liquidation imbalance of +0.00 over 24 hours indicates symmetric liquidation flow between longs and shorts, with no directional bias in cascade risk.
Taken together, 4 presents a market in relative equilibrium: low leverage fragility, modest open interest being steadily reduced, and funding rates that are elevated but not at historically extreme levels. The deleveraging trend and absence of liquidation skew suggest the market is de-risking gradually rather than facing acute pressure.