GOOGL GOOGL · perps

GOOGL's derivatives market shows modest positioning with a leverage risk score of 2, indicating minimal fragility in current leverage structures. Open interest stands at $15.6M, having declined 1.9% over the past 24 hours while rising 0.3% across the 7-day period—a pattern consistent with minor position churn rather than directional conviction.

The aggregated funding rate of 9.21% places the market at a funding percentile of 52 within the 90-day window, meaning current carry costs sit near the middle of recent history with no extreme crowding signal. This moderate funding level reflects balanced positioning between longs and shorts. However, the liquidation imbalance of -1.00 over 24 hours indicates that all liquidations in the period were biased toward short positions, suggesting shorts bore concentrated losses despite the otherwise neutral funding backdrop.

Overall, GOOGL's perpetual market exhibits low-risk leverage conditions paired with stable but thin open interest. The combination of a 2 risk score, neutral funding percentile, and minimal 24-hour OI movement reflects a market without acute positioning stress, though the directional liquidation imbalance warrants observation in subsequent periods to confirm whether short-side pressure is sustained or transient.