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Track BNB perpetual futures long/short ratio across Binance, Bybit, OKX, Deribit, Hyperliquid.
Sharpe Terminal aggregates BNB (BNB) perpetual futures long/short ratio data from Binance, Bybit, OKX, Deribit, Hyperliquid and eight additional exchanges into a single real-time chart. Compare exchange-level breakdowns, overlay price, and switch between 1W, 1M, 3M, 1Y and 3Y historical windows. Ratio of accounts holding long vs. short perpetual futures positions by exchange. Derivatives traders use this view to confirm trend strength, spot crowded positioning, and pinpoint liquidation cascades before they ripple into spot.
BNB has an unusual futures structure: perpetual OI is modest vs. its market cap (typically $500M-$1B) because BNB's largest holder base — Binance ecosystem participants — hold spot for fee discounts, Launchpad eligibility, and BSC gas rather than trading perps. Binance itself lists BNB perps, along with Bybit, OKX, and a handful of smaller venues; CME has no BNB product. BNB funding is structurally low and stable, often sub-5% APR for weeks, because the carry trade (long spot for utility, short perp for yield) is heavily farmed. Watch for BNB OI spikes around Binance Launchpad or HODLer Airdrop announcements — these are the two most consistent BNB-specific catalysts that drive leveraged positioning.
The long/short ratio compares either the number of accounts or the position size of accounts holding longs vs. shorts on a given exchange. A ratio above 1.0 means more accounts (or size) are long than short; below 1.0 means the opposite. Retail-oriented venues (Binance, Bybit, Bitget) typically run structurally long — ratios of 2-4x long are normal even in sideways markets, because retail default-buys. Institutional venues (CME, OKX top-traders) fluctuate around 1.0. Extreme readings act as contrarian indicators: retail piling into longs above 3x historically precedes corrections, while crowding into shorts below 0.7x sets up squeezes.
Compare retail-account ratios to top-trader ratios on OKX or Binance — divergence between the two is the cleanest smart-money-vs-dumb-money signal in crypto derivatives. When top traders are flat or short while retail is aggressively long, fade the retail side. Watch for inflection points where the ratio flips from growing to shrinking — these are often earlier than price signals. Stack long/short by exchange to identify venue-specific crowding.