Learn / Open Interest
What is Open Interest in crypto?
The total value of derivative contracts currently open in the market.
Definition
Open interest (OI) is the total number — or dollar value — of futures contracts that are open and not yet settled. Unlike volume, which counts every trade, open interest counts positions that are still live.
How it works
Rising open interest with rising price means new money is entering and fuelling the move. Rising open interest with falling price means shorts are building. A sudden drop in OI usually means positions are being closed or liquidated. It is one of the clearest gauges of how much leverage sits behind a price move.
Track open interest on TRIXO
TRIXO tracks live open interest per asset across the major futures exchanges and lets you sort and bubble the whole market by OI, so you can see where leverage is concentrating.