Ethereum open interest
Value of open ETH perpetual futures positions on Binance and Bybit in USD, next to price. Updated every 5 minutes.
Snapshot 22 Oct 2026, 01:40 UTC. Ethereum open interest: $7.45B (Binance $5.55B, Bybit $1.90B). Over 24 hours it fell 0.9% while price rose 0.2%.
ETH on Edge or Not: liquidation heatmap · liquidations · liquidity heatmap · open interest · funding rate
How to read open interest with price
The usual reading combines the direction of open interest with the direction of price over the same period:
| Open interest | Price | Common reading |
|---|---|---|
| up | up | new longs are opening |
| up | down | new shorts are opening |
| down | up | shorts are covering |
| down | down | longs are exiting or being liquidated |
Where the numbers come from
New to open interest? Read what open interest is and how it differs from volume.
Binance publishes ETHUSDT open interest in USD every 5 minutes. Bybit publishes it in coins; we convert it at the close of the matching 5-minute candle. Other exchanges are not included yet, so the total is the part of the market on these two venues, not the whole market. History on this page goes back about 30 days.
FAQ
What is Ethereum open interest?
The total value of ETH perpetual futures positions that are still open. Every contract has a long and a short side, so open interest counts each pair once. It grows when new positions open and falls when positions close or are liquidated.
What does a drop in open interest mean?
Positions were closed or liquidated. If price fell at the same time, longs were most likely exiting or being liquidated (see live liquidations); if price rose, shorts were most likely covering.
Is rising open interest bullish?
Not by itself. More open interest means more leverage, which can push a move further or unwind sharply. We have not tested it as a signal yet.