Aggregated Perpetual Futures Open Interest

How it works

The script automatically detects the base currency from the current TradingView chart and constructs corresponding open interest (OI) feeds for Binance, Bybit, and OKX. It uses request.security to fetch OHLC candles for each exchange's perpetual futures contract, handling cases where a specific venue might not list the contract.

When data is available, the script aggregates the open, high, low, and close values from all non-null feeds to generate a single, comprehensive open interest candle. This approach provides traders with a unified view of market positioning across multiple exchanges.

Why it may be useful

Open interest is a critical metric that reveals the total number of outstanding derivative contracts, offering insights into market sentiment and potential price movements. By aggregating data from multiple exchanges, traders gain a more holistic understanding of overall market positioning and participant behavior.

The aggregation helps neutralize exchange-specific biases and provides a more robust representation of market trends. Traders can use this information to validate trends, assess market conviction, and make more informed trading decisions across different timeframes.

When to explore it

This open interest aggregator is most effective during periods of significant market volatility or when analyzing emerging trends in cryptocurrency futures markets. It is particularly useful for traders seeking a comprehensive view of market sentiment across multiple exchanges.

Traders should focus on sudden changes in aggregated open interest, which might signal potential trend reversals or confirm existing market momentum. The tool is especially valuable for day traders and scalpers who rely on quick, data-driven decision-making in fast-moving derivative markets.

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