About Derivatives

The Derivatives Dashboard is OCM's unified command centre for crypto **futures** and **options** market intelligence, consolidating open interest, exchange distribution, historical flows, and two popular sentiment indices into a single multi-tab workflow. Rather than forcing analysts to reconcile data across Coinglass, Deribit, and individual exchange APIs, the dashboard aggregates the entire derivatives landscape for sixteen major assets into one coherent view. Seven analytical tabs cover the full derivatives stack. **Overview** surfaces total open interest, the futures/options split, exchange leadership, and 24-hour sentiment through animated odometer displays and parallax summary cards. **Exchanges** provides paginated breakdown tables with per-venue market share, coin-denominated OI, and 24-hour change metrics. **Insights** renders treemap heatmaps where cell size encodes OI magnitude and colour encodes 24-hour change direction. **OI History** plots aggregated futures open interest back through cycles with gradient-coloured regime segments, SMA/EMA overlays, and 7d/30d/1Y change statistics. The final three tabs house some popular composite indices. The **Derivatives Risk Index (CDRI)** measures structural leverage risk across the futures complex. The **CoinGlass Derivatives Index (CGDI)** blends multiple derivatives signals into a single market temperature gauge.

Signal Zones

Trading Signals by Regime

How It Is Calculated

Frequently asked questions

What is Open Interest and why does it matter?

**Open Interest** is the total notional value of outstanding derivatives contracts that have not yet been settled or closed. It represents the amount of leverage sitting in the market at any given moment. Rising OI during a rally means new leverage is entering; falling OI during a rally means existing shorts are covering. This distinction is critical for reading whether moves are structurally sustainable or vulnerable to reversal.

How does the dashboard handle assets with no options market?

Only six assets currently have meaningful options markets (BTC, ETH, BNB, SOL, XRP, TRX). For assets without options, the dashboard gracefully shows 'N/A' on options cards and hides the options treemap in the Insights tab. The Max Pain tab displays a helpful redirect message prompting selection of an options-supported asset.

What is the difference between CDRI and CGDI?

The **CDRI** (Derivatives Risk Index) specifically measures structural leverage risk, which is how vulnerable the derivatives complex is to cascading liquidations. The **CGDI** (CoinGlass Derivatives Index) is a broader composite that blends multiple derivatives signals (OI, funding, liquidation volume, leverage ratios) into a single market temperature reading. CDRI answers 'how risky?'; CGDI answers 'how hot?'.

Why is exchange concentration important?

Concentration risk matters operationally and technically. When a single venue controls more than 40% of total OI, any outage, liquidation cascade, or regulatory event on that exchange can trigger market-wide volatility. Historical examples include the FTX collapse and Binance's episodic deleveraging events. The Exchanges tab makes this distribution transparent at a glance.

How often does the data refresh?

Live OI data refreshes on every explicit reload (via the refresh button or asset change). Historical timeseries data is fetched once per session and cached in memory. The live indicator pulses to confirm the connection is active; the timestamp at the top right shows the most recent successful data fetch.

Can I use this to predict liquidation cascades?

The combination of rapidly-rising OI, heavy exchange concentration, and elevated **CDRI** is a classic pre-cascade setup. However, derivatives signals are probabilistic rather than deterministic. They tell you the conditions are ripe, not the exact moment. Pair with spot-market liquidity analysis and funding rates for higher-conviction setups.