Artificial Superintelligence Alliance FET · perps

FET's derivatives market shows a markedly short-biased positioning with low systemic stress. The aggregated funding rate stands at -5.88%, meaning shorts are paying longs—a signal that short positions dominate the market and longs are being incentivized to enter. This negative funding sits at the 18th percentile over the last ninety days, indicating it is unusually favorable to long traders relative to FET's recent history.

Open interest totals $34.5M, a modest notional base that has contracted sharply. Over seven days, open interest fell -18.0%, and the past twenty-four hours saw a further -0.4% decline, reflecting steady deleveraging across the market. The liquidation imbalance registered +0.00 over the last day, showing no directional skew in liquidations and suggesting balanced forced closures between longs and shorts.

The leverage risk score of 21 points to a low-stress derivative environment. Combined with the shrinking open interest, the negative funding rate, and balanced liquidations, FET's positioning appears neither crowded nor fragile. The short dominance and withdrawal of leverage suggest traders are cautious, though the historically low funding percentile indicates shorts are currently overextended relative to their own recent norms.