After falling by a third in 24 hours, leverage in $Lobster perpetuals has not contracted in tandem. Public Binance data at 03:36 UTC shows the latest price at around 0.02893 USDT, down 34.47% over 24 hours, with trading volume of about 157 million USDT. This asset has perpetuals only, with no spot market for cross-checking.
The previous full one-hour candle fell from 0.03375 to 0.02968, a decline of 12.06%, on trading volume of about 8.98 million USDT, up 38.67% from the prior hour. Over the last four complete hours, the price fell 3.51% cumulatively, while trading volume was 1.59 times that of the preceding four hours. The decline came with rising volume, rather than simply thinning liquidity.
⚠️ Contract-count OI increased 1.44% in the most recent hour and 18.04% over the 30-point window. The funding indicator is -0.0298%, while the latest settlement was -0.0134%. OI only indicates an increase in the number of contracts; it cannot determine whether new positions are net long or short. But negative funding alongside a sharp drop means the risk of squeezes in either direction is rising.
I’m treating the low of 0.02903 in the previous complete one-hour candle as the short-term dividing line. If the price recovers that level and OI starts to fall, it would look more like a rebound after deleveraging. If the price stays below it, volume remains elevated, and OI continues to rise, volatility could still extend downward. I’ll wait for confirmation from a complete hourly candle rather than treating an intraday bounce as a bottom.
The previous full one-hour candle fell from 0.03375 to 0.02968, a decline of 12.06%, on trading volume of about 8.98 million USDT, up 38.67% from the prior hour. Over the last four complete hours, the price fell 3.51% cumulatively, while trading volume was 1.59 times that of the preceding four hours. The decline came with rising volume, rather than simply thinning liquidity.
⚠️ Contract-count OI increased 1.44% in the most recent hour and 18.04% over the 30-point window. The funding indicator is -0.0298%, while the latest settlement was -0.0134%. OI only indicates an increase in the number of contracts; it cannot determine whether new positions are net long or short. But negative funding alongside a sharp drop means the risk of squeezes in either direction is rising.
I’m treating the low of 0.02903 in the previous complete one-hour candle as the short-term dividing line. If the price recovers that level and OI starts to fall, it would look more like a rebound after deleveraging. If the price stays below it, volume remains elevated, and OI continues to rise, volatility could still extend downward. I’ll wait for confirmation from a complete hourly candle rather than treating an intraday bounce as a bottom.