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 $0Funding · Lighter 0.0%
How VARIATIONAL'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.
Top: candles = price (green: closed higher, red: lower). The small charts below share the same time line. Hover or tap anywhere to read every row at that moment.
Long/short above 1 = more longs than shorts. Open interest = money in open positions; rising with price = new bets. Funding above 0 = longs pay shorts (the crowd is long).
Venues count differently: Hyperliquid = USD of real positions, the others publish account ratios.
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 VARIATIONAL 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.