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BITCOIN FUTURES

How much money is betting on Bitcoin, and which way

The money riding on Bitcoin futures, what it costs to hold a position, which way the crowd leans, and what was closed out by force.

Usually daily

Open interest across 3 exchanges

Usually daily
Open interest across 3 exchanges, by day chartmaketomaketo.com/futures$12.00B$13.00B$14.00B$15.00B$16.00B7/37/157/278/88/209/1TODAY$14.63B

Recorded on all 6 contracts, across 3 exchanges. 1 day is missing, where an exchange went quiet and the total would have read as a fall.

Latest displayed reading: $14,631,748,506 on Sep 7, 2026. This view shows 67 dated readings from Jul 3, 2026 to Sep 7, 2026. The latest displayed reading is higher than the first. The displayed low is $11,573,473,589 on Jul 7, 2026. The displayed high is $15,766,662,334 on Sep 3, 2026. Every day in this range has a reading.

Pick two to four dates and read this chart's values side by side.

The yearly premium on every dated contract we follow, against the time left before it expires. Binance, Bybit, Kraken Futures, OKX, as of Sep 8, 2026.
The yearly premium on 26 dated Bitcoin futures across 4 exchanges, one line each, from 10 days to expiry at 4.04% out to 1669 days at -0.01%.1 month3 months6 months1 year2 years5.81%2.63%-0.54%Bybit, 10 days to expiry: 4.04% a yearBinance, 17 days to expiry: 4.17% a yearBinance, 17 days to expiry: 5.07% a yearBybit, 17 days to expiry: 3.60% a yearBybit, 17 days to expiry: 4.15% a yearKraken Futures, 17 days to expiry: 3.25% a yearOKX, 17 days to expiry: 3.96% a yearOKX, 17 days to expiry: 3.80% a yearBybit, 52 days to expiry: 4.02% a yearOKX, 52 days to expiry: 4.25% a yearOKX, 52 days to expiry: 4.17% a yearBybit, 80 days to expiry: 4.15% a yearBinance, 108 days to expiry: 4.35% a yearBinance, 108 days to expiry: 4.70% a yearBybit, 108 days to expiry: 4.39% a yearBybit, 108 days to expiry: 4.59% a yearKraken Futures, 108 days to expiry: 4.41% a yearOKX, 108 days to expiry: 4.48% a yearOKX, 108 days to expiry: 4.85% a yearBybit, 199 days to expiry: 4.56% a yearOKX, 199 days to expiry: 4.76% a yearOKX, 199 days to expiry: 4.71% a yearBybit, 290 days to expiry: 4.69% a yearOKX, 290 days to expiry: 4.92% a yearOKX, 381 days to expiry: 5.28% a yearOKX, 1669 days to expiry: -0.01% a year

  1. Where does it stand?

    $26.25 billion
    in open bets
    On 18 of the 20 contracts we cover, as of Sep 7, 2026.
    $14.35 billion
    of futures traded in a day
    On 3 of the 11 exchanges we cover, as of Sep 7, 2026.
    0.0026%
    paid per settlement
    On 14 of the 20 contracts we cover, as of Sep 7, 2026.
    1.20
    accounts betting up for each betting down
    On 6 of the 11 exchanges we cover, as of Sep 7, 2026.
    4.04% a year
    premium on the nearest dated contract
    On 4 of the 11 exchanges we cover, as of Sep 7, 2026.
    48.1%
    of trading was buying at market
    On 3 of the 11 exchanges we cover, as of Sep 7, 2026.
    $16.6 million
    closed out by force in a day
    On 5 of the 11 exchanges we cover, as of Sep 7, 2026.

  2. Which side is paying to hold its position?

    The people betting on a rise are paying

    Across the last settlement the rate came to 0.0026%. A positive rate means the contract is trading above the spot price and the up side is paying the down side to keep its position open. It is charged several times a day, so it adds up on a position held for a week.

    Recorded on 14 of the 20 contracts we cover across 11 exchanges; the rest publish no reading of this kind. This reading has been complete since Sep 7, 2026; the 67 earlier days are not published, because a total that climbs as exchanges arrive is not a market move.

    as of Sep 7, 2026

  3. Is the crowd betting up or down?

    More accounts betting up, 1.20 to 1

    This counts accounts rather than money, so one very large trader weighs the same as one very small one. Read beside funding, which is weighted by money, the two often point different ways, and that disagreement is the interesting part. Neither is a forecast: a crowded side is not a side that is wrong.

    Recorded on 6 of the 11 exchanges we cover; the rest publish no reading of this kind. This reading has been complete since Sep 6, 2026; the 66 earlier days are not published, because a total that climbs as exchanges arrive is not a market move.

    as of Sep 7, 2026

  4. What does this cover?

    11 exchanges: Binance, Bitget, BitMEX, Bybit, Coinbase International, Gate, HTX, Hyperliquid, Kraken Futures, MEXC and OKX.

    Recorded on 18 of the 20 contracts we cover across 11 exchanges; the rest publish no reading of this kind. This reading has been complete since Sep 7, 2026; the 67 earlier days are not published, because a total that climbs as exchanges arrive is not a market move.

    3 exchanges: Binance, Bybit and OKX.

    Recorded on all 6 contracts, across 3 exchanges. 1 day is missing, where an exchange went quiet and the total would have read as a fall.

    A contract here means one exchange's version of the bet. Most exchanges list two, one settled in dollars and one settled in Bitcoin, and they are counted separately. That is why a set of eleven exchanges can carry twenty contracts, and why the coverage line under a reading sometimes counts contracts and sometimes exchanges.

How much money is riding on futures →
The total still open at the end of the day, and which exchanges carry it.
Which side is paying to hold its position →
The fee that keeps perpetual contracts tied to the spot price.
What was closed out by force →
Leveraged positions the exchange closed when the collateral ran out.
What the exchanges are holding →
The coins themselves, venue by venue.

Understanding Bitcoin Futures

Where it stands today

There is $26.25 billion riding on Bitcoin futures as of .

$14.35 billion of Bitcoin futures changed hands in a day as of .

Holding a position costs 0.0026% a settlement as of .

A futures contract is an agreement about the price of Bitcoin rather than a purchase of it. Almost all of this trading is in perpetual contracts, which never expire. Instead of settling on a date, one side pays the other a small fee every few hours to keep the contract price near the spot price. That fee is the funding rate.

Open interest is the money still riding on those contracts at the end of the day. It is not trading volume: volume counts what changed hands, open interest counts what is still open afterwards. Both are on this page, and the relationship between them is often more informative than either alone.

Two views of the same number run side by side on this page and are never joined into one line. The wider one covers every exchange here and is the more complete picture; it is also the younger, because it only begins on the first day all of them reported. The narrower one is three exchanges with months of history behind it. A single line spliced from both would draw a step upward on the morning the other exchanges arrived and it would look exactly like a market move.

A contract here means one exchange's version of the bet. Most exchanges list two, one settled in dollars and one settled in Bitcoin, and they are counted separately. That is why a set of eleven exchanges can carry twenty contracts, and why the coverage line under a reading sometimes counts contracts and sometimes exchanges.