The post Disparities in Bitcoin futures OI and volume show distinct exchange trading profiles appeared on BitcoinEthereumNews.com.

The Bitcoin futures market offers a critical lens through which to identify and examine market behavior. Analyzing open interest and volume reveals how this behavior differs across exchanges. Disparities such as those between low open interest and high volume illustrate different trader profiles and strategic approaches to futures trading. Based on CoinGlass data, there is a clear divergence across major centralized exchanges. Open interest stands at $16.72 billion for CME, $11.01 billion for Binance, $8.40 billion for Bybit, $7.38 billion for Gate.io, and a notably lower $118.83 million for Coinbase. Meanwhile, 24-hour trading volume shifts the rankings: Binance leads with $14.10 billion, followed by CME at $11.47 billion, Bybit at $6.63 billion, Coinbase at $8.27 billion, and Gate.io at $2.66 billion. This variation highlights a key question: why do some exchanges with smaller open interest pools generate disproportionately high trading volumes? Exchange Open Interest ($B) Volume ($B) Volume/Open Interest Ratio CME 16.72 11.47 0.686 Binance 11.01 14.10 1.279 Bybit 8.40 6.63 0.789 Gate.io 7.38 2.66 0.360 Coinbase 0.11883 8.27 69.61 The volume-to-open-interest ratio quantifies the frequency of trading relative to outstanding positions. For CME, the ratio is 0.69, indicating that daily volume falls below open interest, suggesting a market where positions are held rather than frequently traded. Binance records a ratio of 1.28, reflecting volume exceeding open interest, which points to active position turnover. Bybit’s ratio of 0.79 and Gate.io’s 0.36 suggest moderate and low turnover, respectively. Coinbase, however, stands apart with a ratio of 69.61, meaning its volume is almost 70 times its open interest. Contract specifications provide insight into these patterns. CME offers standard Bitcoin futures at 5 BTC per contract, valued at $485,715 each, alongside Micro Bitcoin futures at 0.1 BTC, or $9,714 per contract. Its $16.72 billion open interest likely reflects predominantly standard contracts, equating to 34,424…

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Filed under: News - @ February 21, 2025 1:17 am