The total value of outstanding perpetual or futures contracts that have not been closed.
OI rising with price means new leverage is fuelling the move; OI rising with flat price means a crowded standoff. Sharp OI flushes mark deleveraging events.
The OI dashboard aggregates open interest across Binance, Bybit, OKX, Hyperliquid and on-chain perp DEXs, with per-venue breakdown and OI-versus-price charts.
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