Open interest, live.
USDT notional of open perpetual contracts for 20 tracked pairs on Binance USDⓈ-M futures — one venue, not the whole market. Watch positioning build and unwind.
Live Open Interest Tracker
Open interest for 20 tracked Binance USDⓈ-M perpetual pairs. USDT notional = open base-asset quantity × last price in USDT. This is one venue. Select a column heading to sort. Fiat displays approximate USDT at parity with USD; they do not include changes in the USDT/USD exchange rate.
Total open interest (tracked pairs)
$16.49B
Tracked Pairs
20 / 20
Observed (Binance)
· stale
Auto-refreshes every 60s
| BTC/USDT | $7.64B | $82,939.80 | -0.83% | $11.39B |
| ETH/USDT | $5.76B | $2,483.38 | -1.39% | $7.58B |
| SOL/USDT | $908.20M | $106.0600 | -1.25% | $1.69B |
| BNB/USDT | $410.58M | $741.1600 | -0.32% | $196.72M |
| XRP/USDT | $406.22M | $1.3645 | -0.39% | $671.98M |
| NEAR/USDT | $264.91M | $5.0220 | -1.47% | $745.92M |
| DOGE/USDT | $215.23M | $0.083580 | -1.28% | $285.22M |
| UNI/USDT | $175.13M | $7.3100 | -1.40% | $245.24M |
| SUI/USDT | $118.90M | $1.0355 | -1.61% | $237.40M |
| LINK/USDT | $101.53M | $12.7810 | -1.88% | $108.93M |
| AVAX/USDT | $101.45M | $10.0660 | -2.72% | $119.84M |
| ADA/USDT | $80.05M | $0.231800 | -2.03% | $149.68M |
| LTC/USDT | $72.94M | $60.3600 | -1.71% | $68.92M |
| FIL/USDT | $58.62M | $1.1225 | -3.35% | $155.04M |
| ARB/USDT | $50.83M | $0.185200 | -0.60% | $77.19M |
| DOT/USDT | $35.50M | $1.1471 | -4.93% | $62.05M |
| OP/USDT | $23.71M | $0.145940 | +2.50% | $223.02M |
| APT/USDT | $22.11M | $0.804800 | -3.28% | $46.46M |
| ATOM/USDT | $21.69M | $1.7790 | -2.36% | $36.19M |
| POL/USDT | $17.44M | $0.098510 | -3.64% | $15.86M |
Binance USDⓈ-M perpetuals · 20 tracked pairs · USDT notional = open base-asset quantity × last USDT price · one venue
Table of Contents
Open interest history chart
Historical open interest (USDT notional) for Binance USDⓈ-M perpetuals. Pick a contract and a time range, or compare up to eight side by side.
BTC history
BTCUSDT · perpetual · USDT notional
Click multiple symbols to compare OI trends side by side
What is open interest in crypto?
Open interest (OI) measures outstanding derivative contracts, including perpetual futures and options. This tracker covers perpetuals only. It values open base-asset quantity at the last USDT price.
Open interest measures outstanding exposure, not cash deposited as margin or the number of traders. Each contract has a long and a short; count it once.
Exposure versus turnover: Open interest is the exposure still outstanding; volume is the amount traded during a period. One trader can hold several positions, so neither measure counts people.
How Open Interest Works
Open interest, counted in contracts, changes only when a position is created or closed:
Both sides open or increase exposure. One additional contract is counted once; the traders need not be new to the market.
The old buyer's position transfers to the new buyer. No new contract is created.
Both sides of an existing contract are closed. The contract ceases to exist.
Example: 100 BTC of open exposure × 80,000 USDT per BTC = 8,000,000 USDT. At 88,000 USDT per BTC, the same quantity is worth 8,800,000 USDT. No additional contracts are needed for that increase.
How to Interpret Open Interest
For the same contract, this table describes changes in price and USDT notional. A combination alone cannot identify who opened or closed positions, trader counts, or the next price direction.
| Price | Open Interest | Observed combination | Interpretation |
|---|---|---|---|
| Rising | Rising | Price up, notional up | Higher prices can increase USDT notional with unchanged base quantity. This does not establish new longs or new traders. |
| Rising | Falling | Price up, notional down | With a higher price and lower notional, base quantity decreased. The aggregate does not identify whose positions closed or why. |
| Falling | Rising | Price down, notional up | With a lower price and higher notional, base quantity increased. Every additional contract has both a long and a short. |
| Falling | Falling | Price down, notional down | A price fall can reduce notional without any closure. Check base quantity; this does not identify liquidations or a market bottom. |
Open Interest vs Volume
These two metrics are often confused but measure very different things:
| Feature | Open Interest | Volume |
|---|---|---|
| What it measures | Contracts open right now (shown here as USDT notional) | Contracts traded in a rolling 24-hour window |
| Resets? | No — it is a stock (open contracts right now), not a flow | Rolling 24-hour window — it slides; it is not reset at a fixed daily boundary |
| Indicates | Outstanding exposure | Trading activity; not order-book depth |
| When high | Large exposure; no trader count | Heavy trading activity |
| Best used for | Tracking outstanding exposure | Measuring turnover |
Compare the same venue, contract, unit and observation time. Separate changes in base quantity from price revaluation before interpreting notional changes. Volume and OI do not guarantee a breakout or reversal.
What OI can and cannot show
⚠️ OI Divergence
Price and notional can diverge because base quantity changes. Aggregate OI cannot prove short covering, identify a trader group, or predict a reversal.
⚡ OI Spike + Volatility
This page shows open interest in USDT notional. A rise can reflect higher prices even when open contract quantity is unchanged. Check quantity and price separately before inferring new exposure. A spike alone does not establish direction, leverage or an impending breakout.
💥 OI Flush (Rapid Decline)
A decline can reflect closed positions or liquidations, but falling prices can also reduce USDT notional without reducing open contract quantity. The chart alone cannot identify forced closures or confirm a coming reversal.
🔄 Funding Rate + OI Combo
Funding describes payments between the two sides of a perpetual contract. Funding and OI together do not reveal individual leverage, trader counts, or liquidation prices.
Combine open interest with funding rate data, volume and our liquidation calculator for a fuller picture of positioning — no single one of them shows entry prices, the leverage in use or where liquidations cluster.
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Disclaimer
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Frequently Asked Questions
What does rising open interest mean?
Open base quantity increased if more exposure opened than closed. USDT notional can also rise solely because price increased. An increase does not count new traders or prove a bullish direction.
What does declining open interest mean?
A fall in open base quantity means net exposure closed. A fall in USDT notional can instead result from a lower price. Neither measure identifies individual exits or forced liquidations.
Is high open interest bullish or bearish?
Neither on its own. High open interest means many contracts are open; it does not say which side has the conviction, how leveraged the positions are, or where they were entered. Pair it with price, volume and funding before reading direction into it.
What is the difference between open interest and volume?
Volume measures trading during a period; OI measures exposure still open at one moment. This table reports both in USDT notional, with volume over a rolling 24-hour window. A position changing hands can add volume without changing OI.
Can open interest predict liquidations?
Open interest cannot reveal traders’ entry prices, leverage or liquidation levels. Funding rates describe the cost of holding a perpetual, not individual positions. Our liquidation heatmap models possible levels; it does not observe actual positions. The liquidation data feed reports executed events within its stated venue, sampling and history limits.
Does open interest refer to spot or perpetuals?
OI applies to outstanding derivatives such as futures and options. Spot trading volume is not perpetual OI. This page covers USDT-margined perpetuals only; it does not combine spot, options or every exchange.
Where can I view open interest and its history?
Use the live table above and its observation time. It requests updates every 60 seconds and reports missing or stale data. The history chart offers eight contracts and ranges from 24 hours to 30 days; comparison mode normalizes changes as percentages. It is not a tick-by-tick feed or unlimited archive.
How do I calculate BTC open-interest notional?
Multiply the exchange-reported open BTC quantity by the BTC price in USDT. For example, 100 BTC × 80,000 USDT/BTC = 8,000,000 USDT. Do not add the long and short sides twice or multiply by leverage. Your own position size cannot calculate market-wide OI. Other contract types may use different multipliers.
Can I see open interest by participant type?
This tracker has no institutional, retail, market-maker or individual-account breakdown. Aggregate OI does not identify those groups or count people. A separate dataset with explicit participant classifications would be needed.
How do block trades affect BTC open interest?
For the derivative and venue that record the trade, opening both sides increases OI, closing both sides decreases it, and transferring existing exposure leaves it unchanged. Trade size alone does not determine the change. This aggregate tracker cannot attribute movements to a particular block trade.
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Risk Warning
Cryptocurrency prices are highly volatile and can change rapidly. The information on this site is provided for informational purposes only and does not constitute financial, investment, or trading advice.