Terra Luna Classic LUNC · perps

LUNC's derivatives market shows modest positioning with low leverage fragility. Open interest stands at $8.9M, down 7.6% over the past day and 12.1% over the week, indicating steady deleveraging across the market. The aggregated funding rate of 10.95% annualized is elevated relative to recent history, sitting at the 65th percentile of the past 90 days, suggesting longs are paying shorts at rates notably above the coin's typical range, though not at extreme levels.

The leverage risk score of 10 reflects a market with minimal structural fragility—positioning remains light and pressure is low. The liquidation imbalance of +0.00 shows symmetrical liquidation activity between longs and shorts over 24 hours, meaning no directional bias in forced closures. Taken together, the combination of sustained outflows in open interest, moderately stretched funding, and very low leverage risk indicates LUNC traders are gradually reducing exposure rather than aggressively building directional bets. The elevated funding rate, while noteworthy against its own recent range, is not yet paired with the scale of open interest that would signal dangerous crowding.