MYX Finance MYX · perps

MYX is displaying modest leverage stress despite a notably elevated funding environment. The aggregated funding APR stands at 20.72%, placing it at the 68th percentile of the past ninety days—suggesting longs are paying shorts at rates well above recent averages, though not at extreme levels. This crowding is reflected in a leverage risk score of 14, which indicates comparatively low fragility in the positioning structure.

Open interest of $9.3M has contracted sharply over both short and medium timeframes, declining 4.2% over the last twenty-four hours and 10.8% over the past week. This deleveraging pattern suggests traders are actively closing positions rather than adding to them, which typically acts as a stabilizing force. The liquidation imbalance of +0.00 confirms that long and short liquidation flows were balanced over the twenty-four-hour window, with neither side under disproportionate pressure.

In aggregate, MYX exhibits a combination that is unusual but not alarming: persistently high funding rates sitting in the upper-middle band of recent history, paired with consistent position unwinding and balanced liquidations. The low leverage risk score underscores that despite the funding signal's appeal to shorts, actual leverage usage remains restrained relative to the market's recent baseline.