Open Interest Open Interest (OI) refers to all outstanding contracts in the cryptocurrency derivatives market ( The sum of the values still held by traders with active positions), whether long or short, is included. If a position is leveraged, the size of the position, not the amount of principal, is used in calculating OI.

Normally OI will be counted daily. Each exchange has its own open interest for specific derivatives market pairs, such as perpetual and delivery. OI is often used as a trading indicator to determine market sentiment and the strength behind price trends.

For example, Sharon, Cynthia, and Kurt are trading the same futures contract. If Sharon buys $10 to enter a long trade, OI increases by $10. Cynthia also goes long, buying $60 with $10 stake + six times leverage, thus increasing the OI to $70. If Kurt decides to short the market and sells $30, the OI will increase again to $100. At this point, the OI will remain at $100 until a trader closes the position, at which time the OI will drop.

In terms of purpose, open interest only tracks each open position in a specific contract, rather than tracking the total trading volume within it (trading volume may also include netting or closing). position). Open interest therefore more accurately describes a contract's liquidity and interest, determining whether inflows into the contract are increasing or decreasing.

For each centralized exchange that supports derivatives, TokenInsight tracks their daily open interest in different markets such as perpetual contracts and futures delivery contracts. You can switch between Binance’s different derivatives markets and view detailed open interest for each trading pair in the tabs shown below.