GoPlus Security GPS · perps

GPS is displaying extreme funding conditions relative to its recent history. The aggregated funding rate stands at 10.95%, positioned at the 100th percentile over the past ninety days—meaning current rates have reached the highest levels observed in that window. This elevated cost to maintain long positions reflects pronounced crowding on the bid side and suggests longs are heavily committed.

Open interest totals $7.8M, with a modest twenty-four-hour increase of +2.1% offset by a seven-day contraction of -3.9%. The mixed directional signals indicate short-term leverage buildup followed by net deleveraging, pointing to recent volatility in positioning commitment. The liquidation imbalance of +1.00 over twenty-four hours reveals that long positions have borne the entire liquidation pressure, with no short covering evident—a pattern consistent with overextended long leverage.

The leverage risk score of 40 remains moderate, suggesting the overall fragility of current positioning is not yet elevated by composite measures. However, the combination of maximal funding rates and unidirectional long liquidations warrants attention; while absolute leverage may not be extreme, the crowding and directional imbalance create an environment where further long capitulation could accelerate.