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Crypto derivatives report: 2022

Open interest on Binance and Bybit went from $8.02B on 1 Jan 2022 to $5.66B on 31 Dec 2022 (-29%), peaking at $8.89B on 28 Mar 2022. Funding averaged BTC 0.0036% per 8h (about 4.0% APR) and ETH 0.0008% per 8h (about 0.9% APR) over 2022.

1 January 2022 to 31 December 2022, UTCfinalpublished 1 January 2023data on 365 of 365 days

Partial data. Only 2 of this report's 5 sections have data: liquidations, volume and Hyperliquid were not recorded for the period (a full report needs 3). The numbers below cover the stored days only.

Key numbers: 2022

perpetual futures · UTC
Open interest at the end
$5.66B
-29% like-for-like
BTC average funding
4.0% APR
negative on 83 of 365 days

1. Open interest

daily average per exchange, USD

Open interest on Binance and Bybit went from $8.02B on 1 Jan 2022 to $5.66B on 31 Dec 2022 (-29%), peaking at $8.89B on 28 Mar 2022. Bitcoin ended the period with 42% of it ($2.38B, -38%). Across the 2 exchanges recorded on 31 Dec 2022, Binance held the largest share, 79% of $5.66B.

$0$4.67B$9.34BJan 2022MarMayJulSepNovOpen interest, like-for-like

Covers Binance and Bybit for the whole period. The chart and the changes use only the exchanges recorded on both 1 Jan 2022 and 31 Dec 2022 (Binance, Bybit). Before this site recorded them live, the numbers for Binance and Bybit come from the exchanges' own hourly history. Coverage

Coin 1 Jan 2022 31 Dec 2022 Change Peak Peak day
BTC $3.87B $2.38B -38.37% $4.31B 28 Mar 2022
ETH $1.90B $1.68B -11.96% $2.53B 13 Aug 2022
BNB $228.9M $228.0M -0.41% $273.1M 19 Dec 2022
LTC $98.0M $144.4M +47.38% $193.6M 5 Dec 2022
DOGE $130.2M $144.3M +10.85% $442.0M 1 Nov 2022
SOL $205.3M $142.2M -30.74% $309.1M 2 Apr 2022
XRP $193.7M $140.2M -27.60% $320.0M 9 Oct 2022
DOT $207.9M $81.2M -60.96% $227.7M 4 Jan 2022
LINK $91.0M $76.9M -15.52% $162.3M 12 Jan 2022
ADA $158.3M $73.9M -53.30% $275.0M 18 Jan 2022
All coins $8.02B $5.66B -29.40% $8.89B 28 Mar 2022

Exchange share of open interest

Exchange 1 Jan 2022 Share 31 Dec 2022 Share Change
Binance $7.27B 90.7% $4.47B 79.0% -38.51%
Bybit $749.1M 9.3% $1.19B 21.0% +58.97%

Download: coins (CSV) · exchanges (CSV)

2. Funding

mean of each day's OI-weighted 8h rate

Funding averaged BTC 0.0036% per 8h (about 4.0% APR) and ETH 0.0008% per 8h (about 0.9% APR) over 2022. BTC funding was negative on 83 of 365 days. The most positive liquid coin was UNI at 6.5% APR; the most negative SOL at -37.8% APR.

-207%-90%27%Jan 2022MarMayJulSepNovBTCETH

Covers Binance, Bybit and Gate for the whole period. Before this site recorded them live, the rates for Binance and Bybit and Gate are the settled funding from the exchanges' own history. Coverage

Coin Average per 8h Annualized Negative days Days
BTC 0.0036% 4.0% 83 365
ETH 0.0008% 0.9% 117 365
BNB -0.0114% -12.5% 269 365
LTC 0.0030% 3.3% 90 365
DOGE 0.0037% 4.0% 82 365
SOL -0.0345% -37.8% 162 365
XRP 0.0005% 0.6% 132 365
DOT -0.0131% -14.3% 319 365
LINK 0.0056% 6.1% 46 365
ADA -0.0007% -0.8% 154 365
Most positive (average OI ≥ $5M)
CoinAnnualizedDays
UNI6.5%365
LINK6.1%365
DASH6.1%365
ZEC5.2%365
AAVE4.8%365
Most negative (average OI ≥ $5M)
CoinAnnualizedDays
SOL-37.8%365
TRX-16.0%365
DOT-14.3%365
CRV-13.4%365
BNB-12.5%365

Download: funding (CSV)

3. Liquidations

UTC days · longs / shorts

No liquidations are recorded for 2022. This site stores liquidations from 27 Sep 2026.

4. Volume

quote volume, USD · perp and spot

No trading volume is stored for 2022.

5. Hyperliquid

vs the centralized exchanges · HIP-3

Hyperliquid is not recorded for 2022.

Cite this report

permalink
swolecharts, “Crypto Derivatives Report: 2022”, published 1 January 2023, https://swolecharts.com/reports/2022
Free to quote and embed with a link back to /reports/2022.

Methodology

  • Days are UTC. Open interest is each perpetual market's average for the day, summed per coin and exchange; HIP-3 markets are left out of the crypto totals.
  • Funding is each day's open-interest-weighted average of the 8-hour-equivalent rate across exchanges, averaged over the days with data; annualized = rate × 3 × 365.
  • Live data is what this site recorded from each exchange's public API. Before that, Binance and Bybit open interest come from the exchanges' published hourly history and Binance and Hyperliquid funding from their settled rates; the live record wins wherever both exist.
  • Liquidations come from the exchanges' public liquidation feeds; some feeds are sampled, so totals are a lower bound. Volume is the quote volume of this site's recorded 1-minute bars.
  • No third-party aggregator data is used. See coverage for every exchange and data type.

Derivatives report FAQ

What does the derivatives report cover?

Perpetual futures open interest, funding, liquidations and trading volume over one half-year or year, by coin and by exchange, with a section on Hyperliquid. Every number comes from the exchanges' public market-data APIs, recorded by this site or backfilled from the exchanges' own history.

When is a report published?

At 00:00 UTC on the day after the period ends: 1 July for the first half, 1 January for the second half and the full year. Late data can still arrive during the first day, after which the report does not change.

Why do some sections cover fewer exchanges?

Coverage grows over time. Older periods rely on the hourly history Binance and Bybit publish (open interest) and on settled funding from Binance and Hyperliquid; every exchange on the coverage page is included from the day this site started recording it. Each section lists the exchanges it covers, and the open-interest change compares only exchanges recorded at both ends of the period.

Can I cite or share the report?

Yes. Each report has a permanent page, a 1200×630 image at the same address plus .png and a CSV of every table. Please link back to the page when you use the numbers or the image.