Skip to content
Markov
Sign inGet started

ETH · Open interest · Live

ETH open interest chart, live

Open interest is the total size of Ethereum futures positions still open, and every long has a matching short. Markov reads ETH open interest from Hyperliquid in USD (contracts × mark price), about once a second.

Open chart

ETH open interest, resting liquidity and whale prints on one live chart. Free with an account, no card.

ETH open interest, explained

From the Markov blog

What does open interest mean in crypto?

Published November 6, 2026

  • Measured
  • Source: Hyperliquid
  • Freshness: About once a second

Reading it with price

Tendencies, not rules:

  • Price up, open interest up: new positions are opening into the move.
  • Price up, open interest down: positions are closing, often shorts covering.
  • Price down, open interest up: new positions are opening into the drop, often shorts.
  • Price down, open interest down: longs are exiting or being liquidated.

What it can't tell you

Open interest says how much is at stake, not who holds which side or where they entered.

Glossary: open interest, perpetual futures (perps). See the data sources. Research tools and education, not financial advice.

Questions.

Is this total ETH open interest across all exchanges?

No. It is Hyperliquid's only. Venues count contracts differently, so totals don't add up cleanly.

Why does ETH open interest drop during a sell-off?

Positions close: exits, stops and liquidations. The liquidation feed shows how much of the drop was forced.

How often does ETH open interest update here?

About once a second on this page. On the chart it is sampled every 30 seconds, with stored samples before that on paid plans (a free account sees the last 8 hours on 5m).

More on ETH

Open interest, other coins

Compared