Linea LINEA · perps

LINEA's perpetual-futures market shows minimal leverage stress despite a moderately elevated funding environment. The aggregated funding APR stands at 9.32%, placing it at the 36th percentile over the past 90 days—well below the coin's recent extremes, suggesting current long-crowding is neither exceptional nor historically stretched for LINEA. Open interest remains modest at $6.1M, with meaningful deleveraging underway: positions have contracted 4.5% in the past 24 hours and 6.8% over seven days, indicating traders are closing exposure rather than adding to bets.

The liquidation profile reinforces this picture of unwinding. The liquidation imbalance reached -1.00 over 24 hours, meaning shorts were liquidated exclusively while longs escaped, a pattern consistent with a gentle correction that catches leveraged short positions rather than triggering a cascade. The leverage risk score of 7 is notably low, reflecting the thin, deleveraging market structure with little fragility. Together, these metrics suggest LINEA's derivatives market is in a relatively stable, unambitious phase with no acute risk concentration.