Crypto Exchanges Ranked by Open Interest
Every exchange this site reads public market data from, ranked by perpetual futures open interest, with each venue's share of total OI, 24h perp and spot volume, OI-weighted funding and number of markets. Each exchange links to its own page with its largest markets.
Binance holds the most open interest of the 9 exchanges ranked here: $23.38B, 49.0% of the $47.70B total. Hyperliquid is second with 12.7%; the top 3 together hold 73.7%. OI-weighted funding is highest on HTX (0.0096% per 8h) and lowest on Gate (-0.0068%). MEXC ($9.27B of OI) is listed but not ranked or counted in the total: MEXC's reported open interest moves about 6.8 times more than its own trades imply, so it is shown per market but not added to combined totals.
Exchanges ranked by open interest
10 exchanges| # | Exchange | Open interest | OI share | OI 24h | Perp vol 24h | Spot vol 24h | Funding / 8h | Markets | Liqs 24h |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Binance | $23.38B | 49.0% | -4.99% | $56.34B | $6.11B | -0.0028% | 1333 | $454.97M |
| 2 | Hyperliquid | $6.06B | 12.7% | -3.64% | $12.64B | — | -0.0023% | 349 | — |
| 3 | Bybit | $5.69B | 11.9% | -5.06% | $17.84B | $2.06B | -0.0030% | 1101 | $158.42M |
| 4 | Gate | $4.60B | 9.6% | -9.84% | $16.18B | — | -0.0068% | 561 | $138.29M |
| 5 | Bitget | $3.01B | 6.3% | -4.66% | $7.59B | — | -0.0059% | 463 | $37.18M |
| 6 | KuCoin | $2.50B | 5.2% | -2.73% | $3.16B | — | -0.0039% | 531 | — |
| 7 | HTX | $1.16B | 2.4% | -7.29% | $1.89B | — | 0.0096% | 418 | $25.22M |
| 8 | Aster | $971.07M | 2.0% | -4.65% | $1.73B | — | -0.0050% | 440 | $26.13M |
| 9 | Lighter | $323.39M | 0.7% | -4.41% | $1.96B | — | 0.0040% | 111 | $8.66M |
| — | MEXC not ranked | $9.27B | — | -4.42% | $10.69B | — | 0.0000% | 581 | — |
Total perpetual futures volume (24h)
All coins, all exchanges, per UTC dayLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
Each day's 24h perpetual futures volume summed over every coin's perps on every exchange listed above, MEXC included (unlike the open interest total). The split by exchange is on exchange market share.
What each exchange's data covers
| Exchange | Markets | Coverage |
|---|---|---|
| Binance | spot + perp | USDⓈ-M perps and, from 2026-09-28, COIN-M (inverse) perps; liquidations sampled: Binance publishes only the latest liquidation per symbol per 1000 milliseconds |
| Hyperliquid | perp | No liquidations: Hyperliquid has no public all-market liquidation stream |
| Bybit | spot + perp | Every liquidation (allLiquidation stream); OI and funding polled every 30s; USDT and inverse perps |
| Gate | perp | Every liquidation order on USDT perps (futures.public_liquidates, batched each second); USD notional uses the pushed order limit price and can differ from the eventual average-fill notional; OI and funding polled every 30s; BTC-settled inverse perp not covered (under $50M OI) |
| Bitget | perp | Sampled liquidations (largest per coin and side each second); OI and funding polled every 30s; no coin-margined perps listed |
| KuCoin | perp | USDT and inverse perps: open interest and funding polled over REST every 60s; KuCoin publishes no liquidation feed |
| HTX | perp | Every liquidation on USDT swaps (public liquidation_orders stream); OI and funding polled every 30s; coin-margined swaps not covered (under $50M OI) |
| Aster | perp | Crypto perps (stocks excluded): OI every 60s (top 60) or 5 min, funding every 60s; liquidations sampled, at most one per symbol per second. Added 2026-09-28 |
| Lighter | perp | Every liquidation on crypto perps (liquidation fills on the public trade stream); OI, volume and funding polled every 60s; added 2026-09-28 |
| MEXC | perp | USDT perps: open interest and funding polled over REST every 60s; MEXC publishes no liquidation feed |
How it's counted. Open interest is the USD value of open perpetual futures positions (one side), summed over every market this site tracks on the exchange and valued at the mark price; stablecoin pairs are left out. OI share is against the total of the exchanges listed here, not the whole market; for decentralised venues that aren't listed here (Aster, Lighter) see the perp DEX ranking. Funding is the 8-hour equivalent, weighted by each market's open interest.
Crypto exchanges FAQ
Which crypto exchange has the most open interest?
The table ranks every exchange covered here by the USD value of open perpetual futures positions, summed over all of its markets. The leader and each venue's share update with every page load.
Which exchanges are included?
Binance, Hyperliquid, Bybit, Gate, Bitget, KuCoin, HTX, Aster, Lighter, MEXC. Data comes from each exchange's public market-data API; an exchange without markets in the snapshot is listed at the bottom until data arrives. Live counts use feed receipt ages.
What is OI-weighted funding?
The average funding rate across an exchange's perps, weighted by each market's open interest, shown as an 8-hour equivalent so venues with 1-hour and 8-hour funding compare directly. Positive means longs pay shorts on balance.
Why can an exchange's numbers differ from its own website?
Stablecoin pairs are left out, only markets this site tracks are summed, and open interest is valued at the current mark price. Some venues also count both sides of a position; everything here counts one side.