Crypto open interest: how much leverage is built up, and how likely it is to be flushed
Aggregated open interest across major exchanges, read first-hand, put in context for each coin. Funding shows who is crowded. The liquidation map shows where a move would fire. This shows how much leverage is built up, and how likely it is to be flushed.
The open interest history is still building.
Hover any point to read total open interest, price, and which population is acting. Switch the 4H, D and W tabs to change the resolution, or By venue to see how the leverage is split across exchanges.
… aggregated open interest, read first-hand across major exchanges. Drag to pan, scroll or pinch to zoom. Percentages are historical frequencies, not forecasts.
How stretched, for this coin
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… percentile of this coin’s own last year. Read as its own history, never an absolute level.
Which side built the leverage
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… of new open interest came in as longs, … as shorts (estimated from the price path).
Funding, right now
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… Funding shows who is paying to hold the crowded side. See the full read on the funding page.
Where the open interest sits PRO
PRO Paradisers see the exchange dominance split and a venue-divergence read, where one exchange’s open interest pulls away from the rest. Become a PRO Paradiser
Open interest is the fuel. Funding is who is crowded. The map is where it fires.
When open interest is stretched on one side, funding confirms the crowd, and the liquidation map shows fuel stacked there, that is a build worth watching.
For the ParadiseTeam, open interest is one of the layers behind every decision we make, and every trade we share inside ParadiseFamilyVIP. Seats stay deliberately limited.
Check seat availability →How to read open interest
Four ideas behind the picture above.
What open interest is
Open interest is the number of futures contracts held open. It rises when new leverage enters and falls when positions close. It is a stock of open risk, not a flow, so it tells you how much fuel is in the tank, not which way price will go next.
Why the context matters more than the level
A raw open interest number in dollars is mostly a size proxy. What carries information is how it compares to the same coin’s own history, so we show a per-coin percentile, never an absolute level, and never compare one coin to another.
What a flush is
A flush is a fast deleveraging: open interest drops hard while price moves against the crowded side, as leveraged positions are closed or force-closed. Fresh, one-sided leverage builds tend to flush more readily than seasoned ones.
Divergence: price up, open interest flat
When price makes a new high but open interest does not follow, the move is running on less leverage than before. When open interest balloons while price grinds, a crowded position is building. Both are reads of positioning, not forecasts.