Pyth Network PYTH · perps

PYTH perpetual futures show modest leverage positioning with a manageable risk profile. Open interest stands at $15.5M, with a 24-hour increase of +3.0% contrasting against a seven-day decline of -8.9%, suggesting recent volatility in positioning but a net pullback over the intermediate term. The aggregated funding APR of 5.59% is notably elevated relative to the coin's own recent history—sitting at the 25th percentile over 90 days—indicating that long positions are currently paying shorts at an above-typical rate for PYTH.

The liquidation imbalance of -0.19 over the past day reveals slightly more short liquidations than long ones, a minor signal of shorts being squeezed out. However, the leverage risk score of 15 is low, reflecting relatively benign crowding and fragility across the derivative market structure for this asset. The combination of rising 24-hour OI against a longer-term weekly decline, paired with elevated but not extreme funding costs and a modest short-liquidation bias, suggests a market in modest rebalancing rather than one building dangerous leverage concentration in either direction.