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Crypto open interest

At 23:20 UTC, CryptoKeyhole counts $58.5B of open futures positions across the coins it covers: $56.4B in perpetual futures and $2.06B in dated futures. Over the past 24 hours it fell 3.5%.

How much leverage is open across the crypto futures market, and which coins traders are opening or closing positions in.

$58.5Bof futures positions open across the market

Perpetual $56.4BDated $2.06B

24-hour change
−3.5%perpetual and dated together
Against the market cap
2.95%futures open interest over the crypto market cap we track, 23:00 UTC
Options against futures
61%options open interest as a share of futures

Open interest counts one side of each position, in US dollars. The hour from 23:00 UTC, read 23:20 UTC.

From our own collection of the venues' public data; updated every hour. Last update 8 November 2026, 23:20 UTC

Who is opening and who is closing

Longs openingShorts closingShorts openingLongs closingOpen interest, 24-hour changePrice, 24-hour change−4.5%+4.5%−7.2%+7.2%BTC: price −0.6%, open interest −2.5%BTCETH: price −4.0%, open interest −6.1%ETHSOL: price −2.0%, open interest −3.9%SOLHYPE: price −2.9%, open interest −2.9%HYPEXRP: price −3.0%, open interest −6.9%XRPBNB: price −0.8%, open interest −1.1%BNBDOGE: price −2.2%, open interest −3.7%NEAR: price −2.0%, open interest −4.6%NEARUNI: price −4.4%, open interest −7.2%UNIPEPE: price +4.3%, open interest +5.4%PEPESUI: price −2.7%, open interest −6.4%SUILINK: price −2.9%, open interest −2.4%LTC: price −2.6%, open interest −4.8%LTCENA: price −4.5%, open interest −8.3%ADA: price −2.3%, open interest −2.5%WLFI: price +0.5%, open interest −0.1%WLFIAAVE: price −2.5%, open interest −2.0%AAVETRX: price −0.2%, open interest −1.0%TRXAVAX: price −2.5%, open interest −3.4%WLD: price −5.4%, open interest −4.1%WLD
  • Longs openingPEPE
  • Shorts closingWLFI
  • Shorts openingnone
  • Longs closingBTC, ETH, SOL, HYPE, XRP, BNB, DOGE, NEAR, UNI, SUI, LINK, LTC, ENA, ADA, AAVE, TRX, AVAX, WLD

Across every coin we cover, over the 24 hours to 00:00 UTC: 4 longs opening, 2 shorts closing, 1 shorts opening, 54 longs closing. Most coins are longs closing.

The twenty largest coins by perpetual open interest. Price and open interest moving together show new positions; moving apart, positions closing. The count of coins in each state, hour by hour, is the Positioning Quadrants chart (Plus).

Plus has every coin in the positioning quadrants hour by hour, open interest against market cap and every coin’s open-interest change as a heatmap, with their history. See plans →

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Open interest change, day by day

  1. BTC−2.5%
  2. ETH−6.1%
  3. SOL−3.9%
  4. HYPE−2.9%
  5. XRP−6.9%
  6. BNB−1.1%
  7. DOGE−3.7%
  8. NEAR−4.6%
  9. UNI−7.2%
  10. PEPE+5.4%
FallingRisingEach cell is the day's change of the coin's perpetual open interest; the figure beside each coin is the last 24 hours. Colour reaches full strength at 8.07% either way; today's column is the day so far.

The ten largest coins by perpetual open interest. Every coin, hour by hour, is on the Open Interest Change Heatmap (Plus).

Reading open interest with price

Open interest is the value of futures positions still open: every long has a short on the other side, so it counts one side. It rises when traders open new positions and falls when they close them, whether by choice or by liquidation. Read on its own it measures how much leverage the market carries; read with the price it says who is driving a move.

Price up with open interest up means new positions are pushing the price: buyers opening longs. Price up while open interest falls means shorts are closing, a squeeze rather than fresh demand. Price down with open interest up means new shorts; price down while it falls means longs closing, often through liquidations. When most coins sit in the same state at once, the whole market is doing the same thing.

Perpetual futures carry most speculative leverage; dated futures are where basis traders and institutions hold positions to expiry. Open interest that grows much faster than the market cap is leverage piling up.

Method and sources

Each coin's open interest is the closing value of every futures contract CryptoKeyhole collects, linear contracts at the mark price and inverse ones at their US-dollar face value, one side of each position. The market totals add the coins up; dated futures are a coin's total less its perpetuals. The 24-hour changes compare each coin's hourly price close and perpetual open interest with the same hour a day earlier. The market cap is CryptoKeyhole's tracked market cap without stablecoins, which lands a few hours after the hour. Venues we do not collect are not included, so totals understate the whole market.

Quoting these figures? Credit CryptoKeyhole with a link to this page.

Bitcoin Futures Open Interest: Perpetual and Dated (All Assets) chart, 2–31 Oct 2026 sample; full history with Plus
BitcoinFutures Open Interest: Perpetual and Dated (All Assets)Signed out, the chart shows its 2–31 Oct 2026 sample; the full history and latest readings come with Plus.Open the interactive chart

Questions

How much crypto futures open interest is there?

$58.5B at 23:20 UTC by CryptoKeyhole's count: $56.4B in perpetual futures and $2.06B in dated futures, across the coins and venues it collects.

What does rising open interest with a rising price mean?

New positions are being opened as the price climbs: on balance buyers are opening longs with leverage. It shows fresh demand, and also more leverage that a reversal can force out.

What does falling open interest with a rising price mean?

Positions are closing while the price rises, which usually means shorts are buying back: a short squeeze. Such rallies can fade once the covering is done.

All free tools

Figures on this page come from CryptoKeyhole's own collection of the public market data of the exchanges named on it, and refresh automatically. Nothing here is investment advice.