What Is Open Interest? How to Read It and Where to Check It
Updated: 2026-10-28 · Türkçe
Open interest (OI) is the total size of positions still open on a futures contract. Every long has a short on the other side, so OI counts one side. This page explains what OI tells you, how to read it with price, and where to watch it; below are the contracts with the highest open interest right now.
Highest open interest right now
Hyperliquid perpetuals, 2026-10-29 11:00 UTC. A high OI/volume ratio means positions are held longer.
| Contract | Open interest | 24h volume | OI / volume | 24h price | Funding (8h) |
|---|---|---|---|---|---|
| BTC | $3.49 B | $2.42 B | 1.44 | −1.48% | +0.0100% |
| ETH | $2.61 B | $1.02 B | 2.56 | −1.70% | +0.0100% |
| HYPE | $1.82 B | $563.8 M | 3.23 | +4.39% | +0.0945% |
| ZEC | $637.7 M | $331.9 M | 1.92 | −3.71% | +0.0100% |
| SOL | $569 M | $169.9 M | 3.35 | −2.27% | +0.0100% |
| NEAR | $258.5 M | $123.4 M | 2.10 | −6.17% | +0.0100% |
| XRP | $224.8 M | $61.3 M | 3.67 | −2.60% | +0.0100% |
| XMR | $124.4 M | $29.7 M | 4.19 | −1.05% | +0.0100% |
| PUMP | $119.1 M | $75.8 M | 1.57 | +0.51% | +0.0100% |
| LIT | $108.6 M | $25.9 M | 4.19 | −2.15% | +0.0100% |
| ENA | $98.6 M | $49.8 M | 1.98 | −1.85% | +0.0100% |
| DOGE | $80.3 M | $6.1 M | 13.19 | −2.07% | +0.0100% |
Open interest vs volume
Volume is how much changed hands over a period; OI is what is still open at a moment. A position opened and closed the same day adds to volume but not to OI. OI shows new money and the build-up of leveraged positions.
Reading price and OI together
Common patterns below; none is a trade signal on its own — read them with funding and volume.
| Price | Open interest | Common reading |
|---|---|---|
| ▲ Up | ▲ Up | New longs entering; move backed by leverage |
| ▲ Up | ▼ Down | Shorts closing (short squeeze), few new buyers |
| ▼ Down | ▲ Up | New shorts entering; leveraged selling |
| ▼ Down | ▼ Down | Longs closing or being liquidated |
Open interest and funding
High OI with very positive funding means crowded longs; very negative funding means crowded shorts. Crowding can set up sharp liquidation cascades.
Where to check open interest
Exchanges show OI per contract. ByStock's Open Interest page shows Binance, Bybit, OKX and Hyperliquid open interest, exchange shares and 24h change in coin terms for 16 coins, with a 30-day chart per coin. ByStock's Markets page lists open interest, volume, funding and basis for every perpetual in one sortable table.
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Frequently asked questions
What is open interest?
The total size of futures positions still open. Every long has a short on the other side, so it counts one side.
What does rising open interest mean?
New positions (usually leveraged) are entering. With rising price that suggests new longs, with falling price new shorts. Not a direction signal on its own.
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