Retained incident replay

USBOND liquidation-cascade risk is elevated

What happened

Open interest expanded while funding reached an extreme and executable depth declined.

Why it matters

This deterministic condition affected mkts:USBOND on mkts. It is evidence to review, not proof that a loss or manipulation occurred.

Lifecycle

• Status resolved; severity critical
• Detected 2026-08-28T00:00:23.003Z
• Current cycle 2026-09-24T21:15:38.434Z
• Resolved 2026-09-24T21:28:40.894Z

Recommended action

Compare the current oracle, mark, liquidity, funding, exposure, coverage, and freshness before changing a position or operating decision.

Open mkts:USBOND market evidence

{
  "windowMs": 21600000,
  "openInterestChangePercent": 52.78029916063181,
  "depthChangePercent": -74.00344290449522,
  "fundingRateBps": -2.0431,
  "fundingAbsolutePercentile": 96.59,
  "contextSamples": 72,
  "bookSamples": 71,
  "fundingSamples": 879
}