Bybit Open Interest
Close-of-day open interest on Bybit 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
Bybit Open Interest measures the total outstanding perpetual futures positions on Bybit, one of the top three derivatives exchanges. Bybit has been a major perp venue since 2019 and consistently ranks 2nd–3rd by BTC OI.
How Bybit Reports Open Interest
Bybit reports OI as the sum of all open positions in notional USD value across its USDT-margined and USDC-margined perpetual contracts. The exchange uses a dual-price mechanism (mark price + index price) to prevent OI manipulation through wash trading.
Key dynamics:
- Unified Trading Account: Bybit's UTA system allows cross-margin between spot, perps, and options — OI figures reflect the net exposure
- Copy Trading: Bybit's copy trading feature can amplify OI changes when popular traders open large positions
Interpretation
- Bybit OI often correlates closely with Binance but can lead during Asian trading hours
- Sudden Bybit OI spikes without Binance confirmation may signal localized retail leverage
- Bybit OI share growing relative to Binance indicates increasing competition in the derivatives space
Use Cases
- Monitoring the second/third largest venue for OI dynamics
- Detecting regional flow patterns (Bybit has strong Asia-Pacific presence)
- Comparing Bybit vs Binance OI to gauge competitive dynamics
- Tracking copy-trading amplification effects on open interest
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/oi/exchange?exchange=bybit&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
- Bybit Funding Rate — Bybit annualized funding rate