Data from crypto derivatives tracker Coinglass shows that the total open interest for Ethereum (ETH) futures and perpetual contracts across all exchanges fell by 6.79% over the past 24 hours, settling at $26.741 billion. The figure aggregates outstanding positions from major centralized platforms.
Breaking down by exchange, Binance held the largest share at $5.888 billion, followed by Gate.io with $3.782 billion (roughly 14.1% of the total). Bybit recorded $1.741 billion in open interest, while OKX saw $1.658 billion.
Open interest is a key gauge of market leverage and participation. A decline of this magnitude indicates that traders are actively reducing their exposure, with the pullback evenly distributed across top exchanges. As long or short positions are closed, the overall risk appetite in the ETH derivatives market is contracting.