Crypto open interest

What the live workspace shows

The workspace lists price, open interest, OI share, funding, next funding time and source status for the selected market. Its total sums usable live OI rows; stale or unavailable rows do not become zero positions. The weighted mark weights usable mark prices by venue OI. OI share is a venue’s fraction of the usable total, not its share of every derivatives market worldwide.

Coverage is the available subset of supported venues for that symbol. A missing funding value need not mean OI is missing, and vice versa. Treat each field’s availability separately.

A venue-share example

Hypothetical snapshot: venues A, B and C report $600 million, $300 million and $100 million in comparable OI. Total OI is $1 billion; shares are 60%, 30% and 10%. If C becomes unavailable, the usable total becomes $900 million and A’s share becomes 66.67%, even if A’s positions did not change. Compare the same venues before calling this a market contraction.

Price and OI: four possible readings

Price up / OI up: open exposure is expanding during a rise; new longs and shorts both exist. This does not prove buyers will keep control.

Price up / OI down: open exposure is shrinking during a rise. Short covering may contribute, but OI cannot identify who closed or whether a reversal follows.

Price down / OI up: exposure is expanding during a decline. New short activity is a possible explanation, not proof that all new positions are bearish.

Price down / OI down: exposure is shrinking during a decline. Long closing or liquidation may contribute; selling is not necessarily exhausted.

Use the same contract, unit, venues and timestamps. These readings are strongest for contract or base-unit OI. USD OI also changes with price; a venue outage or coverage change can alter an aggregate without any position closing.

Compare like with like

USD normalization makes values easier to compare but does not remove price effects or differences in venue reporting. For example, 10,000 BTC at $60,000 is $600 million; at $63,000 it is $630 million without additional base-unit OI.

Read the OI units and numerical example, then compare short-window price/OI context, funding and observed forced closes. Do not infer individual liquidation prices from aggregate OI.