Guide · Last updated: October 13, 2026

What is open interest?

Open interest (OI) is the total size of all futures contracts that are currently open. If it is rising, new positions are entering the market; if it is falling, positions are closing or being liquidated.

How it differs from volume

Volume is the amount traded in a period. Open interest is the total of contracts still open. Since every contract has a buyer and a seller, OI gives the shared size of the long and short sides, not a sum of both.

Reading it with price

If OI rises while price rises, buyers look dominant; if price falls, sellers do. If OI falls while price rises, short covering is a likely explanation; if price falls, long closing. These are interpretations, not proof.

Its limits

OI doesn't tell direction or who is winning. The same OI change can mean different things in different conditions, so it should be read together with funding and price.

Example

If BTC open interest fell 5% in 24 hours while price dropped 3%, long positions may have been closed or liquidated; KARDVANE marks that as a 'liquidation' measurement.

Where do you see it in KARDVANE?

The Pro terminal shows 1, 4 and 24-hour OI and price changes for 57 coins in the live flow table, and an OI panel below the chart.

FAQ

Does rising open interest mean price will rise?

No. A rise in OI shows new positions are being opened; direction is read together with price and funding.

Are OI and volume the same?

No. Volume measures trading flow; OI measures the total of contracts still open.

This page is educational; it is not investment advice.