oil in clean side air box drain

hello everyone i have drained it once before and it had a just enough water to fill the clear cap. since then i installed muzzy slipon, EJK gen 3 programmer and QSC primary 1 week ago been on a couple rides after i get off work. went to drain my airbox to find roughly 3oz of oil. it is a little low on the dip stick just below hash low mark
200 miles on machine the last couple rides water got to the bottom of back slanted foot pegs any thoughts. started it with cap off drain didnt seem to have blow by and no smoke from exhaust. spark plug looks good