perps open interest tracker
Track crypto perps leverage through open interest, funding rates, order-book depth, and cross-venue funding dispersion.
What this page answers
Bathymark reads perps through open interest, funding rates, visible order-book depth, and cross-venue funding dispersion. It shows where leverage is building, where it is being worked off, and where traders are paying to keep crowded positions open.
Open interest is the amount of leverage still open in a market. It does not say direction by itself, but it says how much borrowed conviction is sitting on the book.
Funding is what one side pays the other to keep a perpetual contract near the spot price. When funding gets extreme, the crowded side is paying rent to stay crowded.
These pages carry the live readings and source trails behind this hub.
Open interest is the dollar value of outstanding perpetual futures positions that have not been closed.
No. Funding shows which side is paying to stay open. It is pressure, not a forecast.