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On top of any exchange
| Exchange | Open Interest | 24h Change | 7d Change | Share |
|---|---|---|---|---|
 |
$882.3M | +14.1% | +16.8% | |
 |
$803.2M | +10.6% | +10.6% | |
 |
$337.9M | +36.2% | +515.7% | |
 |
$325.1M | +16.4% | +21.1% | |
 |
$276.3M | +40.4% | +38.5% | |
 |
$215.5M | +23.8% | +11.8% | |
 |
$190.8M | +17.6% | +12.0% | |
 |
$118.7M | +12.8% | +30.2% | |
 |
$113.8M | +11.5% | +13.7% | |
 |
$49.7M | +4.6% | +16.9% | |
 |
$4.2M | +66.6% | +45.8% | |
 |
$2.7M | +14.5% | -2.2% | |
 |
$2.5M | +0.0% | -8.2% | |
 |
$1.8M | +9.4% | -5.7% | |
 |
$591.7K | -3.1% | -4.9% |
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ZEC open interest is the total notional value of Zcash perpetual positions that remain open across the exchanges PerpDEX Wars tracks. Unlike trading volume, which measures how much is traded during a period, open interest measures the value still tied to active positions.
The historical OI chart shows how aggregate positioning changes over the selected period, while the exchange table breaks current ZEC OI down by venue and shows 24-hour and 7-day changes. This makes it easier to see where outstanding positioning is concentrated and how much of the tracked market sits on PerpDEXs versus centralized exchanges.
Rising ZEC OI means more outstanding positioning is building, while falling ZEC OI means positions are being reduced, closed or liquidated. Open interest alone does not show whether the market is bullish or bearish, so it is most useful when read alongside price, funding rates, liquidations and long/short data.
It is the total notional value of Zcash perpetual positions that are still open across the exchanges tracked on this page. It measures outstanding positioning rather than trading activity over a period.
Rising OI means more notional exposure is tied to open positions. Falling OI means positions are being reduced, closed or liquidated. Neither direction is automatically bullish or bearish.
Comparing OI by exchange shows where open positions are concentrated and which venues account for the largest share of the tracked market. It can also show how positioning is distributed between centralized exchanges and PerpDEXs.
The chart shows how aggregate open interest changes over time. It helps put the current level in context and makes periods of expanding or contracting outstanding positioning easier to see.
Open interest measures positions that remain open, while trading volume measures how much is traded during a period. High volume can occur without a comparable increase in open interest if positions are opened and closed quickly.
The aggregate combines open interest from the supported exchanges tracked by PerpDEX Wars. The exchange table shows how much each venue contributes to the total, while the PerpDEX share shows the portion held on decentralized perpetual exchanges.