Open interest · live
Open interest vs price: where is leverage building or leaving?
Each dot is one of 20 major coins: how much its price moved in the last 24 hours (across) against how much its open interest moved (up and down). The corner it sits in gives the usual reading - new longs, new shorts, short covering or longs leaving. It describes what positions did; in our tests, adding open interest to funding did not predict what price does next.
Snapshot 23 Oct 2026, 14:35 UTC. Of 20 coins: 1 new longs (price and open interest up), 0 new shorts (price down, open interest up), 0 short covering (price up, open interest down), 11 long exits or liquidations (both down), 8 flat.
Open interest is Binance plus Bybit USDT perpetuals, in USD. The axes are fixed at the range of today's data; a dot with a light outline sits at the edge of the chart and moved further than shown. Moves under 1% of open interest or 0.5% of price count as flat: that is the shaded box in the middle, and those coins are drawn in grey. Updated every few minutes.
All 20 coins
| Coin | Open interest | OI 24h | Price 24h | Common reading |
|---|---|---|---|---|
| BTC | $12.68B | +0.2% | -0.4% | flat |
| ETH | $7.50B | -0.5% | -0.6% | flat |
| SOL | $1.51B | -2.5% | -0.5% | flat |
| HYPE | $548.4M | +1.7% | -0.3% | flat |
| DOGE | $328.0M | -2.8% | +0.1% | flat |
| SUI | $187.5M | -0.4% | +0.3% | flat |
| ENA | $172.9M | -0.4% | +0.2% | flat |
| ADA | $125.2M | -2.9% | -0.2% | flat |
| ZEC | $706.8M | -5.9% | -0.7% | long liquidation / exits |
| XRP | $683.5M | -2.7% | -1.1% | long liquidation / exits |
| NEAR | $443.5M | -2.7% | -2.8% | long liquidation / exits |
| UNI | $214.7M | -2.1% | -0.9% | long liquidation / exits |
| WLD | $172.2M | -5.5% | -1.8% | long liquidation / exits |
| LINK | $164.6M | -1.5% | -0.5% | long liquidation / exits |
| AVAX | $156.8M | -3.6% | -1.2% | long liquidation / exits |
| AAVE | $108.3M | -4.6% | -1.3% | long liquidation / exits |
| TAO | $98.7M | -1.5% | -0.5% | long liquidation / exits |
| ARB | $81.0M | -4.6% | -3.1% | long liquidation / exits |
| INJ | $45.3M | -10.7% | -2.7% | long liquidation / exits |
| BNB | $519.4M | +3.3% | +1.8% | new longs |
How to read the four corners
- New longs (price up, open interest up): money is opening long positions into a rise. More leverage can mean a bigger drop if the move reverses, or simply a trend with participation.
- New shorts (price down, open interest up): positions are being opened into a fall.
- Short covering (price up, open interest down): the rise is partly shorts closing, not new buyers opening.
- Long exits or liquidations (price down, open interest down): longs are leaving or being forced out. Live liquidations show how much was forced.
FAQ
What does rising open interest with rising price mean?
The usual reading is new long positions entering as price rises. Open interest up with price down is read as new shorts, open interest down with price up as short covering, and both down as longs closing or being liquidated. It is a rule of thumb: open interest has no direction of its own, and we have not tested it as a trading signal.
Can open interest and price predict reversals?
We tested a version of it: extreme funding together with open interest up 10% in 24 hours on 522 Binance coins. A 24-hour short averaged -0.34% after costs and funding and a long +0.07%, no better than funding alone. No edge.
Which exchanges are included?
Open interest is the sum of Binance and Bybit USDT perpetuals, price is Binance, for 20 major coins, updated every 5 minutes. Other exchanges are not included on this chart.