The Foxes have won their last two matches against West Ham and West Brom to boost their survival hopes.
Leicester host Swansea today and manager Pearson said: “Are we still underdogs? Yes, because we are at the bottom of the league.
“It is really important that we keep our focus. We don’t have a lot of scope to underperform.
“If you can use that underdog spirit then great. It really is about dealing with the situation that you are in, and then allowing the players to go out there without pressure.”
Swansea might have little to play for but Nelson Oliveira is playing for his Premier League future after finally getting his break at Swansea.
With Wilfried Bony departed and Bafetimbi Gomis sidelined, Portuguese striker Oliveira will carry the burden.
Swans manager Garry Monk says Oliveira is playing for a permanent move and said: “He’s had to be patient but now he has his chance and we’re looking for him to step up.
“There’s a danger he will try too hard to prove himself so we just want him to relax and show what he can do because we’ve seen it.”