AI Rig Complex ARC · perps

ARC's perpetual futures market shows modest leverage positioning with limited near-term pressure. Open interest stands at $28.3M, which has remained flat over the last 24 hours at +0.0% while declining 5.4% over seven days—indicating modest deleveraging through the week despite stable daily conditions. The liquidation imbalance of +0.00 reflects neutral positioning between long and short liquidations, suggesting neither side faces acute cascading risk at current price levels.

Funding rates, however, signal moderately crowded longs. The aggregated funding APR of 12.41% places the market at the 70th percentile of ARC's 90-day funding distribution—a notably elevated level relative to its own recent history. This positive rate, paid by longs to shorts, confirms persistent long-side pressure, though the leverage risk score of 11 indicates the overall structure remains fragile only at a low absolute level. The combination of high funding relative to recent norms and declining weekly open interest suggests longs are accumulating incrementally despite some broader position unwinding; the market lacks the systemic crowding seen in coins with risk scores above fifty, but the funding stretch warrants monitoring if leverage continues to build.