Short pressure leads Oct 10's list of the most strained perps, and $MAGIC stands out. Open interest jumped 43.56% in 24 hours while funding sat at -0.43%, meaning traders betting against it kept adding positions and paid the steepest rate on the list to hold them.
That combination is crowding on one side. RLC shows the opposite picture: open interest fell 20.14% with funding at -0.22%, so shorts still pay even as positions close. KAIA tops the pressure score at 69, with open interest down 7.93% and funding at -0.07%.
Not every name leans the same way. NEAR and WLD carry long pressure with funding at 0.01%, and LUMIA drew 63.8% more open interest.
That combination is crowding on one side. RLC shows the opposite picture: open interest fell 20.14% with funding at -0.22%, so shorts still pay even as positions close. KAIA tops the pressure score at 69, with open interest down 7.93% and funding at -0.07%.
Not every name leans the same way. NEAR and WLD carry long pressure with funding at 0.01%, and LUMIA drew 63.8% more open interest.