Hamster Kombat HMSTR · perps

HMSTR's derivatives market is in a state of rapid deleveraging following a period of sustained long positioning. Open interest has contracted sharply, declining 6.9% over the past day and 56.0% over the past week, signaling aggressive position unwinding. The aggregated funding rate stands at 8.79% annualized, which sits at the 17th percentile of the past ninety days—indicating that despite the elevated long-pay-short spread, current funding levels are historically mild for this asset.

The liquidation imbalance of +0.49 over twenty-four hours reveals that longs have borne the brunt of recent closures, consistent with deleveraging pressure on the crowded side. With a leverage risk score of 24, HMSTR's derivatives structure carries low systemic fragility at this moment. The combination of shrinking open interest, modest funding percentile, and contained risk score suggests that aggressive long positions have already been flushed from the market, leaving a leaner positioning structure less prone to cascade liquidations.