Uniswap UNI · perps

UNI's perpetual-futures market shows a mixed posture with shorts currently favored and recent volatility in positioning. The aggregated funding rate stands at -1.98%, meaning shorts are paying longs—a mild bearish signal—while the funding percentile of 18 indicates this negative rate is near the lower end of the past ninety days, suggesting shorts are not heavily overextended by recent standards. Open interest sits at $108.1M, a moderate size that contracted sharply over the last day by -6.7%, even as the seven-day trend reversed with a +33.0% expansion, pointing to recent liquidations followed by fresh leverage accumulation.

The liquidation imbalance of -0.47 confirms that shorts have faced greater pressure to exit over the past twenty-four hours, though the bias is not extreme. Meanwhile, the leverage risk score of 22 reflects low structural fragility in the market—positioning is neither crowded nor acutely brittle. Together, these metrics suggest UNI is in a relatively healthy state: shorts hold a slight directional edge through funding, but neither longs nor shorts are stretched to dangerous levels, and the recent day's deleveraging has not left the market starved of participants.