4 Open Interest
All CoinsAggregated 4 USDT-perpetual open interest across major exchanges · refreshed every minute
4 Open Interest History
4 OI by Exchange
| Exchange | Open Interest | Share | 4h % | 24h % |
|---|---|---|---|---|
| Binance | $7.30M | 60.98% | +2.66% | +6.83% |
| Bybit | $2.04M | 17.08% | +2.02% | +4.05% |
| Gate | $596.7K | 4.99% | +2.09% | +13.29% |
| Aster | $237.5K | 1.99% | +2.4% | +6.54% |
| KuCoin | $769.8K | 6.43% | -30.57% | -28.19% |
| MEXC | $1.02M | 8.53% | +2.57% | +19.54% |
About This Data: How Open Interest Is Measured
You are viewing 4. The methodology below describes how this dataset is collected and computed for 4 and every other coin covered on CoinBoss.
Where the data comes from
Open interest (OI) on this page is collected every minute from 25 derivatives exchanges — including Binance, OKX and Bybit — via their public contract APIs, covering USDT-margined and coin-margined perpetuals and futures for BTC, ETH and 200+ other coins.
What each number means
Total OI is the USD notional value of all contracts currently open. It counts one side of each matched position: a $1M long matched against a $1M short adds $1M to OI, not $2M. 24h/4h change shows the percentage move over each window. The stacked chart breaks OI down by exchange; the matrix page shows coins × exchanges; the OI/Market Cap ratio contextualises derivatives exposure against spot size.
How it is calculated
OI notional = open contracts × contract size × mark price. Coin-margined OI is converted to USD at the current mark price. We poll each venue once per minute and timestamp every snapshot; changes are computed against the same venue's own prior value, so exchange coverage changes never fake a jump.
How to read it
1. Rising price with rising OI means new money is entering — the trend has participation.
2. Rising price with falling OI points to short covering: positions closing, weaker continuation.
3. A sudden OI drop alongside a liquidation spike (see our Liquidations page) marks forced deleveraging, which often precedes calmer price action.
Common misconceptions
High OI is not bullish by itself — every open long is matched by an open short, so OI measures commitment, not direction. Combine it with price and funding.
OI is not volume: volume counts turnover, OI counts what remains open.
Limitations
Coin-margined OI converted to USD inflates when the coin rallies and deflates when it falls, even with no position change — watch the coin-denominated series for those contracts. Some venues update OI with delay, and coverage is limited to our 25 listed exchanges.
Updates & versioning
Snapshots refresh every minute; the exchange list is documented and versioned on this page. Informational only — not investment advice.