# Open Interest Open interest of the perpetual in USD: the total value of open positions, showing whether money is entering or leaving the market. ## How to read it - Rising OI with a move means new positions are opening behind it. - Falling OI means positions are closing; a move on falling OI is often short covering or long liquidation. - Sharp OI drops often line up with liquidation cascades. ## Good to know - Drawn in its own pane below the chart. - Perpetual futures data from the venue. [Learn more in the Academy →](#derivatives-data)