Methodology & disclosure

What open interest is and where the numbers come from.

What is open interest?

Open interest (OI) is the total notional value of perpetual-futures contracts currently open. Rising OI with rising price = new longs (leverage building); rising OI with falling price = new shorts. It is a core gauge of positioning and leverage in the market.

Data source

OI is read live from each exchange's public API (Binance, Bybit) and converted to USD. We aggregate across venues and show the per-exchange split. Figures update automatically and are not edited.

Affiliate disclosure

Some outbound links are affiliate links. If you open an account through them we may earn a commission, at no extra cost to you. It never changes the data shown.

Not financial advice

Perpetual futures are high-risk. Informational only.