Crypto Open Interest

Open interest by coin, summed across Binance, Bybit, Gate, Bitget, MEXC, KuCoin and Kraken: where leverage is building, and where it grew or shrank in 24 hours.

Questions people ask

What is open interest?

The dollar value of perpetual contracts still open. Every contract has a buyer and a seller, so it measures how much money sits in positions, not which way they lean. Rising open interest means positions are being opened; falling means they are being closed or liquidated. Neither is a call on price.

Which exchanges are in the total?

Binance, Bybit, Gate, Bitget, MEXC, KuCoin and Kraken, each at the figure it publishes, which is the basis CoinGlass shows. OKX is not in it yet. Exchanges do not all count it the same way: Bybit's headline is twice the one-sided figure it also publishes. Binance's figure refreshes hourly, the others every minute.

How is the 24-hour change measured?

Against the hourly reading a day earlier, over the exchanges present at both ends, so an exchange that missed a poll does not read as money leaving. A coin with less than a day of history shows no change.

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Crypto Jargon

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