Open Interest
The total value of outstanding perpetual swap contracts on a Perp DEX.
What is Open Interest?
Open interest on a Perp DEX represents the total value or number of active perpetual swap contracts (both long and short) that have not been closed or settled. For example, if Hyperliquid has $100 million in open BTC perpetuals, this reflects the market’s exposure to Bitcoin price movements, indicating trading activity and liquidity.
Open interest is tracked via smart contracts and publicly viewable, providing insight into market sentiment and potential volatility. High open interest can signal strong trader confidence or speculative activity, while a sharp drop might indicate mass liquidations or reduced interest. It’s a key metric for assessing a Perp DEX’s market depth.
Related Terms
Open Interest
The total value of outstanding perpetual swap contracts on a Perp DEX.
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The difference between the highest bid price and the lowest ask price in an order book, indicating market liquidity.
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