Dogecoin
Sectors
Sentiment
Track Dogecoin perpetual futures open interest across Binance, Bybit, OKX, Deribit, Hyperliquid.
Sharpe Terminal aggregates Dogecoin (DOGE) perpetual futures open interest 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. Total USD value of outstanding perpetual futures contracts across exchanges. Derivatives traders use this view to confirm trend strength, spot crowded positioning, and pinpoint liquidation cascades before they ripple into spot.
Dogecoin (DOGE) is the oldest and most mainstream memecoin, with a perpetual futures market that routinely sees $2-4B in aggregate OI during retail-driven cycles. DOGE perps are listed on every major venue and are a go-to vehicle for retail leverage because of low dollar-notional tick size. DOGE OI peaked near $5B during the April 2021 Musk-driven rally and again in late 2024 post-election. Funding on DOGE is the most volatile of any top-20 perp — 300%+ APR single-day prints are routine during mania phases. DOGE is the cleanest read on pure retail speculation: when DOGE funding decouples from BTC funding to the upside, crypto is in late-cycle euphoria. Long liquidation cascades on DOGE are severe because position sizing is almost universally oversized.
Open interest (OI) is the total notional USD value of outstanding perpetual futures contracts that have not yet been closed, liquidated, or settled. OI measures how much leverage is deployed in the market at a given instant — not how much has traded. Rising OI with rising price signals new leveraged longs entering; rising OI with flat or falling price signals short-side buildup and squeeze risk. Falling OI during a price move usually reflects position closures or forced liquidations rather than directional conviction. For top-10 coins, aggregate OI is typically 30-80% of spot market cap; ratios above 100% are rare outside of SOL and the memecoins.
Chart OI against price and overlay funding. OI-up/price-up is a confirmed trend; OI-up/price-flat is a squeeze in progress; OI-down/price-up usually marks the end of a move (shorts capitulating rather than longs adding). Stack OI by exchange to see which venue is driving the change — when OI grows on Hyperliquid or Bybit while Binance OI is flat, the move is retail-speculative rather than institutional. Divergences between OI and spot volume are late-cycle warnings worth taking seriously.