Who is long, who is short, how much money sits in open positions and what it costs to hold them.
HL long/short -OI · Lighter $674KFunding · Lighter +10.5%
How PEPE's price moved and, on the same time line, who is long or short, how much money is in open positions and what longs pay shorts.
Venues count differently: Binance and Bybit publish account ratios, Hyperliquid is the USD of real open positions. Not investment advice.
The value in USD of all open PEPE perpetual positions on a venue, each position counted once. Rising open interest with a rising price means new positions are being opened; falling open interest means positions are being closed or liquidated.
They count different things. Hyperliquid's ratio is the USD of tracked open long positions against short ones; Binance and Bybit publish the share of accounts that are long against short. A ratio above 1 means more longs.
Longs pay shorts: the perpetual trades above the spot index and funding pulls it back. Negative funding means shorts pay longs. The page shows funding annualised (APR).
Hyperliquid open interest and funding are read about every 30 to 60 seconds and stored in 5-minute steps, long/short ratios every 5 minutes; older history is kept in hourly steps. The page refreshes every 60 seconds.