Monad MON · perps

MON's derivatives market shows modest positioning with low leverage risk. Open interest stands at $34.1M, having grown +0.9% over the past day and +4.9% over the past week, indicating gradual accumulation of leveraged exposure. The aggregated funding rate of 5.71% annualized reflects a moderately bullish lean, with longs paying shorts at a rate that sits at the 49th percentile of the past ninety days—neither stretched nor depressed relative to MON's recent history.

The most notable signal comes from the liquidation imbalance of -0.77 over twenty-four hours, showing a pronounced preference for short liquidations rather than long ones. This suggests that any recent price movement has favored short sellers or that shorts were positioned more aggressively in leverage. Combined with the leverage risk score of 6, the market presents a low-stress profile; this score indicates minimal fragility in the overall leverage structure. The gradual week-long accumulation in open interest paired with balanced funding metrics and low leverage risk suggests MON is in a relatively stable derivatives phase, with neither excessive crowding nor significant deleveraging pressure evident.