Polkadot DOT · perps

DOT's perpetual-futures market shows a skewed positioning favoring short sellers. The aggregated funding rate stands at -7.89%, placing it at the 19th percentile of the last ninety days—meaning shorts are currently paying longs to carry positions, and this imbalance is historically mild for DOT's recent range. Open interest totals $64.1M, with a modest contraction of -1.1% over the past twenty-four hours offset by a week-long buildup of +2.2%, suggesting some consolidation after incremental leverage additions.

The liquidation activity reinforces short dominance: a liquidation imbalance of -1.00 indicates that shorts were exclusively liquidated over the last day, absorbing losses as positions wound down. This pattern—negative funding combined with short liquidations—typically arises when short positioning is thinly structured or underwater. The leverage risk score of 17 is low, reflecting a market without acute fragility. Overall, DOT's derivatives structure presents a relaxed environment with modest short crowding and minimal systemic leverage risk.