Open-Interest Spikes

basic

Sharp open-interest moves (>5%) on Bybit perps — positions piling in or unwinding fast.

What it is

Open interest on a Bybit BTC, ETH, or SOL perpetual moves at least 5% between two 5-minute samples — a fast swing in how much leveraged exposure is open on the book.

Why it matters

Rising open interest means fresh leverage is piling in; falling open interest means positions are being closed. Open interest and volume measure different things — volume counts trades, open interest counts positions still open — so a 5% swing inside five minutes is a fast change in how much exposure the book is carrying, not just how busy it was.

How to read the alert

The alert reports the pair, the percentage change and its direction. Open interest rising alongside a price move means the move is being made with new positions; open interest falling means it is being made by positions closing out. Which of the two is happening is the whole content of the alert.

Sample alert

📈 Open-interest spike · ETHUSDT
OI moved +6.4% on Bybit

ℹ️ Information only, not financial advice.

Open pair

Each alert includes

The trading pair — BTC, ETH, or SOL perpetual
The percentage open-interest change that triggered it
The direction of the move — the sign on the percentage
Confirmation it's Bybit's perpetual market