Live dashboard / BTC leverage
BTC Leverage Metrics
A live view of leverage building blocks before higher-level fragility indices: open interest, funding, and perp basis. The page focuses on venue-level derivatives metrics so crowding and leverage pressure can be read directly from the inputs.
Open interest USD
Total leverage footprint
Funding rate 8h equivalent
Crowding side
Perp basis vs index
Rich or cheap perps
Reading the metrics
Start with OI, funding, and basis before fragility indices.
Open interest shows whether leverage is building or leaving the market. Funding is the cleanest crowding-side signal: positive means longs are paying, negative means shorts are paying. Basis compares the perp against the index; positive basis means perps are trading rich, while negative basis means they are trading cheap.