TAGGER TAG · perps

TAG is displaying a compressed leverage profile with modest funding dynamics. The aggregated funding APR of 9.19% indicates longs are paying shorts at a moderate rate, yet the funding percentile of 27 suggests this rate sits well below TAG's recent range—positioning is not stretched by its own historical standards. Open interest of $14.3M reflects a relatively small notional market, and the consecutive declines of -5.4% over 24 hours and -2.2% over seven days signal steady deleveraging across the period, consistent with either profit-taking or reduced trader conviction.

The liquidation imbalance of +0.00 shows no directional liquidation bias in the last 24 hours, meaning longs and shorts faced equivalent pressure. Combined with a leverage risk score of 20, which is low, the market structure is stable and fragile positioning is minimal. The downward open-interest trend paired with moderate funding rates and a small risk score suggests traders are trimming exposure rather than accumulating leverage, reducing near-term tail risk despite the positive funding environment favoring longs.