HYPE was the loudest chart on crypto timelines on October 29, 2026, and our Derivatives tab shows why it was more than a price move.
The numbers, as read on our platform
- Price: $96.28, +20.0% in 24 hours (perpetual mark price).
- Open interest: $487M, +47% in 24 hours, about 5.06M HYPE.
- 24h perpetual volume: $2.10B.
- Funding: 0.005% per period, close to neutral.
- Top-trader long/short: 2.19. All accounts: 1.02.
- Taker buy/sell: 1.18.
What open interest adds to the price
A 20% move on falling open interest is shorts closing: positions leave the market and the price jumps as they go. A 20% move on rising open interest is the opposite: new positions are opening into the move. Here open interest grew faster than the price (47% against 20%), so new money took the move, not just a squeeze. Our engine labels this “OI up with price up: new longs opening”.
The split worth watching
The largest accounts hold more than two longs for every short, while the whole market sits close to one-to-one. Across three venues the account ratio averages 53% long, 47% short: balanced. Large traders are leaning in; the crowd is not. Funding at 0.005% says nobody is yet paying heavily to stay long.
That combination does not forecast the next move. It describes who holds the risk. If the price turns, the new open interest is where the forced selling would come from. On the same day, liquidations across the four largest venues reached $949M in 24 hours, $639M of it longs, a reminder of how quickly leverage unwinds.
How to follow it
The Derivatives tab shows open interest, funding, both long/short ratios and the per-venue split for any perpetual, refreshed through the day. Every number above comes from that page; none is a forecast.
This is market description, not investment advice.
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