BRVX Glossary · Open interest · Updated September 24, 2026
Open interest is the total number or value of futures or options contracts that are open and not yet closed or settled. Because every contract has a long and a short, open interest counts one side: it rises when new positions are opened and falls when positions are closed.
The formula
Open interest Contracts still open (one side counted)
New positions on both sides raise it; closing positions lowers it. Price direction is a separate question.
How it works
- New long + new short OI rises
- Position passes hands OI unchanged
- Both sides close OI falls
How open interest changes
Open interest moves only when positions are created or removed. A new buyer and a new seller opening positions add to it. Two traders closing positions against each other reduce it. A trade where one side opens and the other closes leaves it unchanged.
Open interest vs volume
| Open interest | Volume | |
|---|---|---|
| Measures | Positions still open | Contracts traded |
| Time frame | A snapshot at a moment | A total over a period |
| Resets | Never — it carries over | Every period |
What it can tell you
Rising open interest with a rising price means new money is entering longs and shorts at higher levels; falling open interest during a move means positions are being closed, including forced closes. It says how much exposure is in the market, not which side will be right.
On perpetual markets, open interest is read together with the funding rate: high open interest and a strongly positive rate suggests crowded longs.
Questions about Open interest
Is high open interest bullish?
Not by itself. It shows how many positions are open, and every open long has an open short against it.
What does falling open interest mean?
Positions are being closed faster than new ones are opened, whether by choice or by liquidation.
Do perpetual futures have open interest?
Yes. Perpetuals report open interest like dated futures, and it never resets at an expiry because there is none.
Open interest: next steps on BRVX
Open interest on DOGE/USDT today: 5x to 80x, fees 0.05% in and 0.05% out, funding 0.0023% long and 0.0023% short per hour.
Read next: Perpetual futures, Funding rate and Long and short positions.
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