Yei Finance CLO · perps

CLO's derivatives market presents a mixed picture of elevated funding pressure alongside recent volatility in positioning. The aggregated funding APR stands at 10.95%, indicating sustained long-side crowding, yet this sits at the funding_percentile_90d of 0, meaning current rates are at their lowest point within the trailing ninety-day window—a sharp disconnect suggesting that while longs remain incentivized to pay shorts, the market has recently cooled from even more extreme imbalances.

Open interest totals $11.8M, a modest absolute size that contracted 6.5% over the past twenty-four hours. However, the seven-day trajectory tells a different story: OI surged +187.8% over the week, indicating a substantial buildup of leverage that has only begun to reverse in the most recent session. This rapid accumulation followed by partial unwinding hints at position-taking activity or tactical repositioning rather than stable directional conviction.

The liquidation_imbalance of +0.00 shows perfect equilibrium between long and short liquidations over the day, offering no signal of asymmetric fragility in either direction. With a leverage_risk_score of 57, CLO registers at a moderate elevation—neither acutely stressed nor particularly benign. The combination of high funding APR, minimal funding relief relative to recent history, and outsized weekly OI growth suggests traders are willing to pay for long exposure, yet the pullback in OI and neutral liquidation balance imply the market is absorbing that positioning without acute distress.