Render RENDER · perps

RENDER's derivatives positioning shows modest overall leverage with significant imbalance favoring shorts. Open interest stands at $18.0M, with a mild uptick of +0.7% over the last twenty-four hours offset by a broader seven-day contraction of -6.8%, suggesting recent deleveraging across the broader positioning. The aggregated funding rate of 8.84% annualized indicates longs are paying shorts, typical of crowded long positioning, though the funding percentile of 46 places this near the middle of RENDER's recent ninety-day range—not stretched relative to its own history.

The liquidation imbalance of -1.00 over twenty-four hours reveals an extreme skew: shorts have been liquidated at a rate that entirely dominates long liquidations, pointing to forceful upside momentum in price that has caught leveraged short positions underwater. This dynamic—strong long funding paired with short liquidation dominance—suggests longs have been driving directional moves and profiting, at least in the near term. The leverage risk score of 3 indicates minimal fragility in the overall structure; positioning remains thin and scattered rather than dangerously concentrated.