The total value of derivative contracts currently open and not yet settled.
Last verified 13 September 2026 · written by the DexLadder team
What it means
The total value of derivative contracts currently open and not yet settled.
Why it matters when you trade
Volume counts turnover; open interest counts commitment. Rising price with rising open interest means new money is entering a trend. Rising price with falling open interest means shorts are covering and the move may be exhausting itself. Extremely high open interest relative to spot liquidity is a loaded spring: when it unwinds it does so through liquidations, and liquidations are market orders that do not care about your stop.
Worked example
Open interest doubles in three days while funding turns sharply positive — the market is crowded long and a small drop can cascade.
See it on live markets
DexLadder runs open interest against live market and pool data, with simulated capital, so you can watch it act on an order instead of reading about it — no account, no wallet, nothing installed.