Bitget Open Interest
Close-of-day open interest on Bitget BTC perpetual futures.
| Property | Value |
|---|---|
| Category | Market Data |
| Unit | USD |
| Resolution | 1d |
| Assets | BTC |
| Tier | Pro |
| API Endpoint | GET /v1/oi/exchange |
| Field | close_oi_usd |
Overview
Bitget Open Interest tracks outstanding BTC perpetual futures positions on Bitget, a fast-growing derivatives exchange known for its copy trading platform. Bitget has grown from a minor exchange to a top-5 venue by OI since 2021.
How Bitget Reports Open Interest
Bitget reports OI as total notional value in USD across its USDT-margined perpetual contracts. The exchange's copy trading mechanism means a single "lead trader" opening a position can generate multiplied OI as copy followers automatically replicate the trade.
Interpretation
- Bitget OI growth rate often outpaces Tier-1 exchanges due to its expanding user base
- Copy trading amplification: a 10x increase in a lead trader's position can generate >100x OI if many followers are subscribed
- Bitget OI spikes without corresponding moves on Binance/Bybit often indicate retail-driven leverage events
Use Cases
- Retail leverage barometer: Bitget's copy-trading user base makes its OI a proxy for retail derivatives positioning
- Tracking the competitive growth of newer exchanges vs established venues
- Identifying copy-trading cascade risks when popular traders open large positions
- Comparing Bitget OI market share trends over time
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/oi/exchange?exchange=bitget&start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- Futures Open Interest — Total futures open interest across all exchanges in USD
- Bitget Funding Rate — Bitget annualized funding rate