MegaETH MEGA · perps

MEGA's perpetual-futures market shows modest positioning with low structural fragility. Open interest stands at $12.7M, with a 24-hour increase of +3.4% offsetting a weekly decline of -1.0%, suggesting minor inflows into leverage after recent outflows. The aggregated funding rate is 9.84% annualized—a rate that sits at the 34th percentile over the trailing 90 days, indicating current conditions are moderately below the coin's recent norm and not indicative of crowded long positioning.

Liquidation activity favors shorts, with an imbalance of -1.00 over 24 hours, meaning shorts faced concentrated forced closures while longs remained largely untested. The leverage risk score of 10 reflects minimal systemic fragility in the derivatives layer, suggesting either light leverage application or well-distributed positioning that lacks acute crowding pressure. Taken together, MEGA presents a low-risk derivatives profile with balanced directional pressure and no signs of precarious leverage buildup.