Chiliz CHZ · perps

CHZ shows a marked decline in leverage positioning over the recent period. Open interest sits at $16.0M, down 2.4% over the past day and 2.1% over the past week, signaling sustained deleveraging as traders reduce exposure. The aggregated funding rate stands at 0.60% annualized, placing it at the 39th percentile of its 90-day range—well below historical norms for this asset, indicating neither crowded long nor short positioning at present.

The liquidation profile tilts sharply toward shorts, with a liquidation imbalance of -1.00 over 24 hours, meaning short positions are bearing the liquidation pressure. This contrasts with the mild positive funding environment and suggests that any recent price weakness has triggered disproportionate closure of leveraged short bets. Combined with the steady decline in open interest, the picture is one of unwinding rather than accumulation.

The leverage risk score of 6 reflects a low-fragility environment. With minimal funding strain, steady deleveraging, and small absolute open interest, CHZ derivatives markets currently present limited tail risk from forced liquidations or crowded positioning. The metrics indicate a relatively calm, unextended market structure.