Enso ENSO · perps

ENSO's perpetual-futures market is showing modest positioning and low systemic fragility. The aggregated funding rate stands at 4.97%, indicating a mild long-biased market where longs are paying shorts, though this pressure is measured rather than extreme. At a funding percentile of 33 over the past ninety days, current rates sit below the median of recent history, suggesting the market is not unusually stretched relative to ENSO's own trading patterns.

Open interest of $6.2M reflects a relatively small derivatives footprint, with recent deleveraging evident in the oi_change_24h of -5.2% and oi_change_7d of -2.0%. This sustained contraction points to traders closing positions rather than adding risk. The liquidation imbalance of -0.36 reveals a moderate skew toward short liquidations over the past day, consistent with the long-leaning funding environment but not severe enough to signal cascading deleveraging stress.

The leverage risk score of 12 underscores a fundamentally low-risk positioning structure. Combined with declining open interest and subdued funding levels relative to recent history, ENSO's derivatives market appears stable and lightly leveraged, with neither crowded longs nor fragile price support from short squeezes in evidence.