BTC: Futures Open Interest to Market Cap (All Assets)

Shown as its 2–31 Oct 2026 sample; the latest readings and full history are included with Plus.

Futures open interest of every coin we cover as a percentage of the tracked crypto market cap.

Why use it. Leverage measured against the size of the market: high readings mean the market leans on borrowed money, which makes sharp liquidation cascades more likely. How to read it. A rising line means leverage grows faster than the market; the turns matter more than the level.

Calculation. Per period: 100 x the summed futures open interest / the market cap of the assets we track (the Total Market Cap (Tracked Assets) chart) less its stablecoins. Source: our own minute-by-minute collection of public futures data across every coin with perpetual futures that CryptoKeyhole covers, from Binance, Bybit, OKX, Deribit, Kraken, Bitfinex, Bitget, Gate, Hyperliquid, KuCoin, HTX, Crypto.com and Coinbase (open interest, funding, and the public liquidation feeds we collect), and our own USD price indexes. Each coin counts with the same values its own charts show. The series start on 24 October 2026, the first day our collection held every coin's open interest, funding, liquidations and price; a coin added later joins on the day its collection begins. A period appears once nine in ten of the coins have published it, so the open hour can trail by a few minutes. Venues we do not collect are not included, so totals understate the whole market.