Live Bitcoin futures open interest with 20-day percentile rank and estimated leverage intensity. Tracks whether the derivatives market is overleveraged or compressed. For educational purposes only.
Open Interest
$8.2B
BTC perpetual futures, Binance
30d PercentileNEUTRAL
72th
Rank vs. recent hourly readings
24h Change
+0.6%
Open interest, last 24 hours
7d Change
+17.6%
Open interest, last 7 days
Liquidity Coverage
0.23%
Resting futures depth within ±1% of mark vs. OI — live snapshot
BTC Open Interest (USD) — last 30D
30D LOW $6.5B186 four-hour readings — Binance publishes at most ~30 days of OI history (the honest free-source maximum)30D HIGH $8.4B
How Liquid State Reads Open Interest
Open interest (OI) measures the total number of outstanding BTC perpetual futures contracts. Rising OI means new money is entering the market — either new longs or new shorts. Falling OI means positions are being closed. High OI at extremes historically precedes sharp moves.
The 30-day percentile rank shows where today's OI sits relative to the past 20+ days of hourly readings. A percentile ≥ 75 (ELEVATED) signals the market is carrying more leverage than 75% of recent hours — historically associated with higher volatility and sharper corrections.
The estimated leverage ratio (ELR) approximates BTC open interest as a fraction of the total circulating supply. A higher ELR suggests a larger portion of circulating BTC is being used as leverage in the derivatives market.
Liquidity Coverage compares resting order-book depth within ±1% of mark price to total open interest. Higher coverage means the book can absorb a large order without moving price much relative to outstanding leveraged size; lower coverage means the book is thin relative to that size. It is a live snapshot of the current book, not a historical series.
Frequently asked questions
What is Bitcoin open interest?
Open interest (OI) measures the total number of outstanding BTC perpetual futures contracts. Rising OI means new money is entering the market — either new longs or new shorts. Falling OI means positions are being closed.
What does the 30-day percentile rank mean?
The 30-day percentile rank shows where today's OI sits relative to the past 20+ days of hourly readings. A percentile ≥ 75 (ELEVATED) signals the market is carrying more leverage than 75% of recent hours — historically associated with higher volatility and sharper corrections.
What is the estimated leverage ratio (ELR)?
The estimated leverage ratio approximates BTC open interest as a fraction of the total circulating supply. A higher ELR suggests a larger portion of circulating BTC is being used as leverage in the derivatives market.
Where does the open interest data come from?
Open interest data is sourced from the Binance Futures public API. This tool is for educational and informational purposes only — not financial advice.
What is the depth-to-open-interest liquidity coverage ratio?
It compares resting Binance BTC futures order-book depth within ±1% of mark price to total open interest, expressed as a percentage. A higher ratio means more resting liquidity is available relative to outstanding leveraged positions — a thinner book relative to open interest can see sharper price moves when large positions are forced to close. This is a live snapshot, not a historical series, and is descriptive only — not a trade signal.
Open interest is the total value of derivatives contracts that are currently open and not yet settled or closed. Unlike volume, which counts every trade, open interest counts positions still outstanding — so it measures how much capital is committed to the market at a given moment rather than how much has changed hands.
What does rising or falling open interest mean?
Rising open interest means new positions are being opened and capital is entering the market, which indicates conviction behind the prevailing move. Falling open interest means positions are being closed, whether by choice or by liquidation. Read alongside price direction it distinguishes a move driven by new positioning from one driven by existing positions unwinding — though neither reading is predictive on its own.
How is open interest different from trading volume?
Volume counts the contracts traded during a period and resets each period. Open interest counts the contracts still open at a point in time and carries forward. High volume with flat open interest indicates positions changing hands; high volume with rising open interest indicates net new exposure being added.
Can open interest predict where price is going?
No. Open interest is not predictive. It describes how much leveraged capital is committed to the market right now and says nothing about direction on its own — the same rise in open interest can precede a continuation or a violent unwind, depending on how that positioning is resolved. It is market information provided for educational purposes and is not financial advice.
For educational and informational purposes only. Not financial advice. Past performance is not indicative of future results. Open interest data sourced from Binance Futures public API. Always do your own research.
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