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On top of any exchange
| Exchange | Open Interest | 24h Change | 7d Change | Share |
|---|---|---|---|---|
 |
$8.41B | -4.7% | -1.7% | |
 |
$2.88B | -1.0% | +14.2% | |
 |
$2.57B | -8.1% | -0.7% | |
 |
$2.20B | -2.5% | +18.2% | |
 |
$2.10B | -2.3% | -4.5% | |
 |
$2.04B | -6.4% | +0.4% | |
 |
$1.66B | -5.6% | -0.4% | |
 |
$1.28B | -3.1% | -3.2% | |
 |
$798.6M | -8.1% | -0.5% | |
 |
$458.5M | -1.7% | -1.2% | |
 |
$254.7M | +1.0% | +7.3% | |
 |
$202.5M | -1.5% | -20.3% | |
 |
$28.3M | -1.7% | +1.1% | |
 |
$27.2M | -0.2% | -4.0% | |
 |
$12.9M | +5.1% | +15.0% |
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Ethereum open interest is the total notional value of every outstanding ETH perpetual contract across the exchanges PerpDexWars tracks — a direct measure of how much leveraged capital is committed to Ethereum right now. Rising OI means fresh positions are opening; falling OI means positions are closing or being liquidated. Read against price, it separates moves backed by new conviction from those driven by forced exits.
ETH open interest is often read alongside the staking and basis backdrop: because spot ETH can earn a yield, changes in perpetual OI reflect demand to take leveraged directional exposure rather than hold staked spot. The per-exchange breakdown shows whether that leverage is concentrating on one venue — a fragility signal — or spread broadly across the market.
The history chart auto-scales to the recent range so day-to-day shifts in total Ethereum OI stay visible. Green bars mark sessions where OI rose versus the prior reading, red where it fell, giving a quick read on whether ETH leverage has been building or unwinding over the selected window.
Ethereum open interest is the total USD notional value of all outstanding ETH perpetual futures contracts that have not been settled or closed. It measures how much capital is actively deployed in leveraged Ethereum positions across every exchange PerpDexWars tracks.
No single exchange shows the full picture. OI spread across many exchanges means the market is broadly capitalized; OI concentrated on one exchange creates fragility, since a liquidation or outage there can cascade. The per-exchange breakdown shows where ETH leverage is building.
Rising OI means new positions are opening — fresh capital entering. Falling OI means positions are closing, by choice or liquidation. OI rising with price signals a trend backed by conviction; OI falling as price rises often signals a short squeeze rather than organic demand.
Because spot ETH can earn a staking yield, demand to be long with leverage shows up in the perpetual basis and in open interest. Rising ETH OI alongside a positive basis signals strong appetite for leveraged upside rather than simply holding staked spot.
The aggregate and per-exchange figures refresh every 30 seconds from live exchange feeds. The 24h and 7d change figures are computed against database snapshots taken every 5 minutes, so they reflect a precise historical reference rather than a rolling estimate.