Succinct PROVE · perps

PROVE's derivatives market shows modest leverage positioning with low absolute risk. Open interest stands at $4.8M, with a 7-day gain of +4.7% offset by a 24-hour decline of -2.0%, indicating recent consolidation after a brief buildup phase. The aggregated funding rate of 9.60% annualized sits at the 35th percentile of its 90-day range, suggesting current conditions are modestly favorable to shorts but not stretched relative to recent history.

The leverage risk score of 7 reflects minimal fragility in the market structure. Over the past day, liquidation imbalance reached -1.00, meaning shorts absorbed all liquidations while longs were spared—a signal that short positioning, despite the long-favorable funding, faced sustained pressure. The combination of mild positive funding, low risk scoring, and near-zero absolute open interest points to a thinly traded derivative market where directional leverage is present but not pronounced. Traders should note the modest liquidity depth typical of smaller-cap perpetual markets.