Athenum chart of aggregate Bitcoin open interest indexed to 100 on 2026-07-17, showing the dollar reading rising +3.03% over seven days while the coin reading rose only -0.85% because BTC price gained +3.92%, as of 2026-07-24

Open Interest tinh bang Coin va Do la: Vi sao cung mot OI crypto co the vua tang vua giam

Athenum Analytics
Athenum Analytics
9 min read

Tom tat. Open interest la so hop dong phai sinh con dang mo, va cac san yet no theo hai cach: theo coin (bao nhieu BTC hop dong dang mo) va theo do la (con so coin do nhan voi gia). Vi con so do la mang gia ben trong no, open interest theo coin va theo do la co the di chuyen voi bien do rat khac nhau, doi khi nguoc chieu. Tinh tren luong du lieu truc tiep cua Athenum vao 2026-07-24: tong open interest hop dong tuong lai Bitcoin tren 14 san giao dich ma Athenum theo doi vao khoang $18.0B, chinh la 275,575 BTC hop dong do doc qua gia $65,392. Trong bay ngay tinh den 2026-07-24, con so do la nay tang +3.03%, nhung con so coin chi thay doi -0.85%, vi ban than BTC tang +3.92%; gan nhu toan bo tit "open interest tang" la gia, khong phai vi the moi. Bieu do bia theo doi ca hai cach doc cua cung mot open interest suot tuan.

Open interest theo coin va theo do la thuc su nghia la gi?

Open interest dem hop dong, khong dem giao dich: no la tong quy mo cac vi the dang mo ngay luc nay, tang khi mot nguoi mua moi va mot nguoi ban moi mo mot hop dong moi, va giam khi mot vi the dong lai. Dai luong duy nhat nay co the bieu dat bang hai don vi. Theo coin la bao nhieu Bitcoin danh nghia dang mo, vi du 275,575 BTC vao 2026-07-24. Theo do la la chinh con so coin do dinh gia theo gia hien tai, nen open interest do la bang open interest coin nhan gia. Ca hai la cung mot nen tang vi the do bang hai cay thuoc khac nhau, va cay thuoc ban chon se doi cau chuyen ma con so ke ra.

Vi sao cung mot open interest crypto co the tang theo do la va giam theo coin?

Vi mot cay thuoc di chuyen. Open interest coin chi thay doi khi hop dong thuc su duoc mo hoac dong. Open interest do la cung thay doi vi ly do do, nhung con thay doi moi khi gia thay doi, vi gia duoc nhung vao trong no. Giu nguyen so hop dong va de BTC tang, open interest do la se leo len du khong mot vi the moi nao duoc mo; de BTC giam, open interest do la se tut xuong trong khi nen tang hop dong thuc khong he dong. Trong bay ngay tinh den 2026-07-24, nen tang coin chi thay doi -0.85% trong khi BTC tang +3.92%, va hai dieu do cung nhau tao ra muc tang +3.03% ma ban thay theo do la. Cay cau ben duoi tach chuyen dong do la thanh hai phan cua no.

Athenum bridge chart decomposing the +3.03% seven-day rise in Bitcoin dollar open interest into a -0.85% change in the coin contract base plus a +3.92% price effect, on 2026-07-24

Muc thay doi -0.85% cua nen tang hop dong theo coin ket hop voi chuyen dong gia BTC +3.92% tao ra muc tang +3.03% cua open interest do la trong bay ngay tinh den 2026-07-24.

Do la toan bo co che. Khi ban doc thay open interest do la nhay vot, chi tu con so do la ban khong the biet la trader do vao hay gia don gian tang len duoi mot chong hop dong on dinh. De tach don bay khoi gia, ban phai nhin cay thuoc coin.

Open interest Bitcoin tuan nay co thuc su tang khong, hay chi la gia tri do la cua no?

Chu yeu la gia tri do la. Do theo coin, tong open interest Bitcoin di tu 277,946 BTC vao 2026-07-17 den 275,575 BTC vao 2026-07-24, mot thay doi -0.85%, tuc gan nhu phang. Do theo do la trong cung cua so, no di tu khoang $17.5B den khoang $18.0B, mot thay doi +3.03%. Cung nen tang vi the, cung bay ngay, hai tit rat khac nhau: mot cai noi thi truong hau nhu khong doi rui ro, cai kia noi open interest tang ba phan tram. Duong coin ben duoi la buc tranh trung thuc ve viec nen tang hop dong thuc da di chuyen it den the nao.

Athenum line chart of aggregate Bitcoin futures open interest in BTC terms from 277,946 BTC on 2026-07-17 to 275,575 BTC on 2026-07-24, a near-flat -0.85% change across the 14 exchanges

Theo coin, tong open interest hau nhu khong nhuc nhich: 277,946 BTC vao 2026-07-17 den 275,575 BTC vao 2026-07-24, thay doi -0.85%, trong khi con so do la tang +3.03%.

Day chinh la cho cach doc chi theo do la gay hieu lam. Mot trader chi theo doi open interest do la trong mot dot tang gia se thay no tang va doc thanh don bay moi do vao, trong khi cay thuoc coin cho thay nen tang vi the gan nhu khong doi va gia da lam viec. Bai viet cua chung toi ve bon che do open interest va gia di qua cach open interest tang hoac giam ghep voi gia tang hoac giam, va no chi khop khi ban doc open interest theo coin.

Nen doc don vi nao, va khi nao?

Khong cay thuoc nao sai; chung tra loi nhung cau hoi khac nhau, nen cach xu ly la biet ban dang hoi cai nao. Open interest coin tra loi "co bao nhieu vi the thuc dang mo", cach doc ban muon cho tich luy don bay, rui ro siet vi the, va viec mot chuyen dong co duoc hop dong moi chong do hay khong. Open interest do la tra loi "co bao nhieu tien dang dat cuoc", cach doc ban muon de do rui ro do la, so sanh giua cac tai san, va uoc luong mot chuoi thanh ly co the lon den dau. Bang tom tat khi nao nen dung cai nao.

Cau ban dang hoi

Doc open interest theo

Vi sao

Don bay moi dang duoc them hay bot?

Coin (BTC)

Loai bo gia, chi di chuyen khi hop dong mo hoac dong

Vi the dong duc va de bi siet den dau?

Coin (BTC)

Nen tang hop dong thuc, khong phai gia tri thi truong cua no

Co bao nhieu rui ro do la tren ban?

Do la (USD)

Danh nghia ti le voi gia, va thanh ly cung duoc quyet toan theo no

BTC so voi open interest ETH hay SOL the nao?

Do la (USD)

Mot don vi chung cho phep so sanh nen tang vi the giua cac coin

"Open interest tang 3 phan tram" co la tang truong thuc?

Ca hai

So ca hai: neu do la tang ma coin khong, do la gia

Open interest Bitcoin dang duoc chia tren cac san the nao ngay bay gio?

Doc theo don vi nao thi nen tang vi the cung tap trung, va Athenum chuan hoa no tren 14 san giao dich nen phan bo co the so sanh giua cac san. Vao 2026-07-24, trong khoang $18.0B tong open interest hop dong tuong lai Bitcoin, Binance nam $6.75B (103,268 BTC), khoang 37.5% tong so; Bybit $3.61B (55,189 BTC, 20.0%); Hyperliquid $2.44B (37,259 BTC, 13.5%); Bitget $2.31B (35,397 BTC, 12.8%); OKX $2.05B (31,401 BTC, 11.4%); va Deribit $0.74B (11,292 BTC, 4.1%). Moi thanh ben duoi la danh nghia do la, ben canh la so coin, de ban thay ca hai cay thuoc cung luc.

Athenum bar chart of Bitcoin futures open interest by venue on 2026-07-24: Binance $6.75B at 37.5%, Bybit $3.61B, Hyperliquid $2.44B, Bitget $2.31B, OKX $2.05B, and Deribit $0.74B, each labeled in dollars and BTC

Vao 2026-07-24, Binance mang $6.75B open interest Bitcoin (103,268 BTC, 37.5% tong so), dan truoc Bybit voi $3.61B va Hyperliquid voi $2.44B.

De xem ban day du hon cua phan tach nay, gom ca viec co cau san thay doi theo thoi gian ra sao, hay xem open interest theo san. Neu hop dong tuong lai vinh cuu con moi voi ban, hop dong tuong lai vinh cuu la gi trinh bay cach cac hop dong tao nen open interest nay hoat dong.

Lam sao tu ban doc open interest dung don vi?

Bien no thanh mot buoc kiem tra ngan, lap lai duoc, moi khi ban thay mot con so open interest:

1. Hoi no o don vi nao. Mot con so nhu $18.0B la do la; mot con so nhu 275,575 BTC la coin. Neu nguon khong noi, hay gia dinh do la, vi hau het bang dieu khien mac dinh theo no. 2. Doi sang don vi kia. Open interest coin bang open interest do la chia gia; open interest do la bang open interest coin nhan gia. Vao 2026-07-24, dieu do dinh gia khoang $18.0B tong open interest thanh khoang 275,575, cung nen tang hop dong ma cac bieu do coin ve ra. 3. So hai thay doi trong cua so cua ban. Neu open interest do la tang ma coin khong, muc tang la gia, khong phai vi the moi, dung nhu phan tach +3.03% so voi -0.85% da cho thay tuan nay. 4. Khop don vi voi cau hoi cua ban. Dung coin de danh gia don bay va do dong duc, dung do la de danh gia tien dang rui ro va so sanh giua cac tai san. 5. Do theo muc thanh ly cua chinh ban, khong theo con so tong. Open interest cua thi truong khong dat rui ro cua ban; vi the cua ban dat. Ban do no trong may tinh don bay va thanh ly mien phi va may tinh kich thuoc vi the, va dung may tinh von hoa thi truong de can open interest so voi tai san ma no duoc viet len.

Moi con so open interest trong bai nay la goc nhin xuyen san truc tiep cua Athenum, 14 san giao dich trong mot luong da chuan hoa, va 34 may tinh ben canh van mien phi, khong can tai khoan, khong can email, khong gioi han su dung. Doc phan tach o ca hai don vi trong may tinh don bay va thanh ly mien phi, roi mo terminal truc tiep cua Athenum de xem open interest di chuyen theo do la va theo coin khi gia di chuyen.

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