Derivatives Screener
Real-time OI, funding rates, and long/short ratios across 522 symbols and 3 exchanges
The Derivatives Screener tracks open interest, funding rates, and positioning data across Bybit, Binance, and Hyperliquid perpetual futures. Use it to spot leveraged crowding, funding arbitrage, and sentiment shifts before price reacts. Data refreshes every 2 minutes from all three exchanges.
| # ▲Symbol | OI (USD) ▲ | OI 1h % ▲ | OI 24h % ▲ | Funding (8h) ▲ | Funding Ann. ▲ | L/S Ratio ▲ | Top Trader LSR ▲ | Signal |
|---|---|---|---|---|---|---|---|---|
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How to Read the Screener
Market Positioning Summary
Funding Rate Heatmap
Top 30 symbols across 3 exchanges — color intensity = funding magnitude
Reading the Funding Heatmap
Each cell shows the current 8-hour funding rate for a symbol on a specific exchange. Green cells = negative funding (shorts pay longs — bearish pressure). Red cells = positive funding (longs pay shorts — crowded longs). Grey cells = near-zero funding (balanced positioning). When one exchange shows very different funding from others, arbitrage opportunities may exist — traders can long on the low-funding exchange and short on the high-funding one to earn the spread.
Top OI Gainers
24h ChangeTop OI Losers
24h ChangeWhat OI Changes Tell You
OI Gainers — Symbols attracting new leveraged positions in the last 24 hours. Rising OI with rising price signals fresh longs with conviction. Rising OI with dropping price means new shorts are opening — potential for a short squeeze if price reverses.
OI Losers — Symbols where traders are closing positions or getting liquidated. Falling OI during a price drop means longs are capitulating. Falling OI during a price rise means shorts are covering — the move may lack fuel for continuation.
Funding Divergence Alerts
Cross-exchange spreadLarge funding rate differences between exchanges create arbitrage opportunities. Go long where funding is lowest (you get paid) and short where funding is highest (cost is offset by the other position). Divergences above 0.01% per 8h are highlighted.
Aggregate Market Sentiment
Aggregate sentiment across all tracked symbols. When most symbols are net long with high L/S ratios and positive funding, the market is overleveraged to the upside — corrections and long liquidation cascades become more likely. The opposite signals short-side crowding.
You're viewing demo data. Sign up to access real-time funding rates, open interest, and signal detection for 229+ symbols across 3 exchanges.
Data Pipeline
The screener pulls live derivatives data from the Smart Money daemon, which aggregates perpetual futures across Bybit, Binance, and Hyperliquid. Metrics for 522 symbols are collected, normalised, and stored in the internal database every 2 minutes. The screener table displays the most recently cached snapshot, meaning the data you see is never more than 2 minutes old. Tier-limited users see the top 10 symbols by open interest; authenticated subscribers access all 522 symbols with full sorting and filtering capabilities.
Key Metrics Explained
Funding rate is the periodic payment exchanged between long and short perpetual contract holders. When funding is positive, longs pay shorts — the market is leaning bullish. When negative, shorts pay longs — the market is leaning bearish. Open Interest (OI) is the total dollar value of all outstanding perpetual contracts. It measures how much conviction traders have placed in the market. Long/Short Ratio (LSR) compares the number of accounts holding long positions versus short positions, giving a sentiment read on the overall crowd positioning.
Signal Detection
The system flags two categories of signals automatically. Extreme funding signals fire when the funding rate exceeds 0.03% in either direction and the LSR exceeds 1.5, indicating a heavily crowded one-sided trade prone to mean reversion. Bullish/bearish divergence signals fire when funding exceeds 0.008% with an LSR above 1.05, suggesting directional conviction without extreme crowding. Signals are visual cues to prompt further analysis, not standalone trade instructions.
Funding Rate Interpretation
A funding rate above 0.03% per 8-hour interval annualises to over 32% — an unsustainable cost for long holders. Historically, sustained extreme positive funding precedes sharp liquidation cascades as the long-heavy market becomes unstable. This is a contrarian signal: extreme positive funding warns that a move lower is more probable than continued upside. Conversely, deeply negative funding (shorts paying longs) often appears near market bottoms when fear is peak, creating a contrarian long setup. Moderate funding in the 0.005–0.015% range is considered healthy trend confirmation.
Open Interest Context
Rising OI alongside rising prices signals new money entering the market and confirms the uptrend — participants are opening fresh long positions rather than short-covering. Rising OI during a price decline indicates new short positions being built, strengthening the downtrend. Falling OI during a rally suggests short-covering rather than genuine buying — a weaker signal. Falling OI in a downturn signals long liquidations or voluntary exits, which can mark capitulation bottoms. OI spikes without price movement often indicate large institutional position building that precedes a directional move.
Long/Short Ratio Signals
An LSR above 1.5 means 60%+ of retail accounts are positioned long — a crowded trade that is statistically vulnerable to a flush. Markets tend to move in the direction that causes the most pain to the majority, so an extreme LSR reading is a contrarian warning. An LSR below 0.8 (heavily short-biased crowd) can signal a squeeze setup if any positive catalyst emerges. The top-trader LSR (large account positions) is more informative than the general LSR, as institutional traders are better informed. Divergence between general and top-trader LSR often reveals who is on the right side of the trade.
Data Accuracy: Derivatives data is sourced from exchange APIs (Bybit, Binance, Hyperliquid) via the Smart Money daemon. Funding rates, OI, and LSR figures reflect the most recent 2-minute cache cycle. Exchange API outages or rate limiting can cause temporary staleness. Always verify critical figures directly on exchange platforms before executing trades.
Signal Limitations: Extreme funding and LSR signals are statistical tendencies observed across historical data — they are not predictive certainties. Markets can remain irrational longer than expected, and crowded trades can become even more crowded before reversing. Use these signals as one input among many, not as a complete trading system.
Not Financial Advice: All data and analysis presented on this platform is for informational purposes only. Nothing here constitutes investment advice, a solicitation to buy or sell any asset, or a guarantee of future performance. Cryptocurrency derivatives carry substantial risk including leverage-amplified losses — you may lose some or all of your capital. Conduct your own research and consult a qualified financial advisor before making any investment decisions.