Bitcoin open interest across five exchanges
Open perpetual positions on Binance, OKX, Bybit, Bitget and Hyperliquid, converted to a single Bitcoin denomination.
Open perpetual positions on Binance, OKX, Bybit, Bitget and Hyperliquid, converted to a single Bitcoin denomination.
- Hyperliquid38,460 BTC
- Bitget32,564 BTC
- OKX28,608 BTC
incomplete: Unreachable Binance, Bybit
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How to read the chart
Open interest counts the open futures contracts, that is positions that have been opened and not yet closed. Every contract has a long and a short side but is counted only once. The number therefore shows how much capital is currently committed to the Bitcoin price through derivatives, not in which direction.
A common reading links open interest to price: when both rise together, new positions are carrying the move. When open interest drops sharply in a short time, many positions were closed or forcibly liquidated. That often happens during violent price moves and then also shows up in the liquidations chart.
How this number is produced
The sum of open Bitcoin perpetual positions on Binance, OKX, Bybit, Bitget and Hyperliquid. Each exchange reports in its own unit; everything is normalised to Bitcoin before being added.
What it does not say
Five exchanges are not the whole market. If one is unreachable, the chart marks the figure visibly as a partial sum and names the missing exchange rather than quietly shrinking. Rising open interest also says nothing about direction, only about how much capital is committed.
- Update interval
- 5 min
- CC BY 4.0
- CC BY 4.0
Frequently asked questions
What is Bitcoin open interest?
The total of all open futures contracts on Bitcoin. The chart adds up perpetual contracts, futures without an expiry date, at Binance, OKX, Bybit, Bitget and Hyperliquid. Each exchange reports in its own unit, so everything is converted to bitcoin before it is added. The value is fetched again every five minutes.
Why is open interest shown in bitcoin and not in dollars?
Counted in bitcoin, the number shows how many positions are actually open. In dollars it would already rise when only the price rises, without a single new position. If you need the dollar value, multiply the number by the current Bitcoin price.
Is this the total open interest of the market?
No. It covers the stablecoin-settled perpetual contracts of the five exchanges named. Not included are, among others, the regulated futures of the CME, the options exchange Deribit and contracts settled in bitcoin. The sum is therefore smaller than global open interest, but its trend is a useful indication.
If you want to buy or sell based on these numbers, you can compare the fees and regulation of providers here: Crypto exchanges compared