Dash DASH · perps

DASH perpetual futures show a market structure favoring shorts, with an aggregated funding rate of -4.58% indicating that short positions are paying longs to maintain their exposure. This negative funding sits at the 16th percentile of the past ninety days, meaning current conditions are unusually skewed toward short compensation compared to recent history—a relatively rare positioning environment for the asset.

Open interest stands at $24.9M with modest growth momentum: a +2.0% increase over the past twenty-four hours and +1.0% over seven days. The leverage risk score of 32 suggests moderate stability in the current structure, well below elevated territory. However, liquidation activity over the past day paints a directional picture: the imbalance of -0.84 reveals substantially more short liquidations than long, implying that despite shorts' structural advantage in funding terms, recent price movement has been challenging their positions.

The combination of negative funding, a historically low funding percentile, and pronounced short liquidations suggests DASH has recently moved against the short-heavy bias. While absolute open interest remains modest and leverage risk is contained, the liquidation dynamic indicates shorts are experiencing pain relative to longs, even as the funding structure remains in their favor. This tension between structural positioning and recent price action warrants monitoring.