Kaspa KAS · perps

KAS perpetual futures show modest positioning activity with minimal leverage stress. The aggregated funding rate stands at 6.95%, placing it at the 15th percentile of its 90-day range, indicating that long-funding conditions are currently well below their recent typical levels. This suggests longs are not heavily paying shorts, a sign that bullish positioning remains relatively restrained compared to KAS's recent history.

Open interest of $14.6M reflects a small derivatives footprint. The 24-hour change of +0.1% shows essentially flat activity, while the 7-day trend of -1.8% reveals modest deleveraging over the past week, signaling that traders are gradually reducing aggregate positions rather than building new ones. The liquidation imbalance of +0.00 indicates perfectly balanced long and short liquidations, meaning neither side faced disproportionate pressure to unwind in the last 24 hours.

The leverage risk score of 24 is low, underscoring that KAS derivatives positioning lacks the fragility or crowding typical of higher-leverage environments. The combination of depressed funding rates, thin open interest, gradual deleveraging, and balanced liquidations points to a market with limited speculative tension and no acute tail risk from position unwinding.