SkyAI SKYAI · perps

SKYAI's perpetual-futures market is showing signs of delevering after a period of elevated long positioning. The aggregated funding rate stands at 9.44%, placing it at the 80th percentile of the past 90 days—a notably stretched level historically for this contract. This elevated funding reflects sustained longs paying shorts, consistent with crowded long-side exposure relative to SKYAI's recent baseline.

However, positioning has begun to unwind sharply. Open interest fell 5.4% over the past 24 hours and 73.6% over the past week, indicating significant closure of leveraged positions rather than fresh accumulation. At $7.7M total notional open interest, the market has contracted substantially from recent levels. The liquidation imbalance of +0.00 shows no directional skew in forced closures—liquidations have been balanced between longs and shorts—suggesting the deleveraging is occurring gradually without acute cascade pressure.

The leverage risk score of 27 reflects relatively benign fragility at current scale. Despite the stretched funding percentile, the combination of falling open interest, balanced liquidations, and moderate risk scoring indicates that SKYAI's derivatives positioning is in a stabilization phase rather than an acute stress state. The market has moved away from its most crowded configuration, reducing near-term tail risk.