ORDI ORDI · perps

ORDI's perpetual-futures market shows modest leverage activity with a constructive funding environment. The aggregated funding rate stands at 7.57%, indicating longs are paying shorts, though the funding percentile of 35 reveals this is unremarkable relative to ORDI's recent history—well below the extremes observed over the past ninety days. Open interest remains relatively modest at $18.5M, with a slight net build of +1.2% over the last twenty-four hours offsetting a weekly deleveraging of -3.7%, suggesting cautious positioning rather than conviction in either direction.

The leverage risk score of 8 places ORDI well below elevated fragility thresholds, indicating that derivative positioning is not structurally fragile. The liquidation imbalance of +0.28 over twenty-four hours tilts toward long liquidations, a minor signal that some leveraged longs faced pressure, though the magnitude is moderate and does not suggest a cascade event. Taken together, ORDI's derivatives profile reflects light to moderate activity with balanced funding costs and risk levels that remain restrained relative to both its own history and broader market stress conditions.