# ETH Market Indicator This namespace contains endpoints to retrieve Estimated Leverage Ratio. We provide certain indicators to avoid any risks, assume upside or downside potentials, and give insights on the value of ethereum. For more detailed information, please refer to the description of each metric. ## Estimated Leverage Ratio > By dividing the open interest of an exchange by their ETH reserve, you can estimate a relative average user leverage. Whenever the leverage value reaches a high, there is rapid volatility. Similar to Open Interest, but more accurate because it reflects the growth of the exchange itself. This is experimental indicator but it seems this reflects market sentiment. You can see how aggressive people are and how conservative they are in terms of investment. For 'In Progress' exchanges, estimated leverage ratio is not supported yet even though they provide open interest.\ > \_\_\[Go to Data Guide‣]\(\_
```json {"openapi":"3.0.0","info":{"title":"CryptoQuant Data API","version":"1.3.0"},"tags":[{"name":"ETH Market Indicator","description":"This namespace contains endpoints to retrieve Estimated Leverage Ratio. We provide certain indicators to avoid any risks, assume upside or downside potentials, and give insights on the value of ethereum. For more detailed information, please refer to the description of each metric."}],"servers":[{"url":"https://api.cryptoquant.com/v1/","description":"Default server"}],"security":[{"Access Token":[]}],"components":{"securitySchemes":{"Access Token":{"type":"http","scheme":"bearer","bearerFormat":"JWT","description":"For each API request, include this HTTP header:\n`Authorization` with the `Bearer {access_token}`. Bearer access token is the type of HTTP Authorization. You have to include access token to the HTTP header and note that leading bearer is required.\nYou must include your access token in HTTP header in every request you make. The token is unique, issued for each client, and regularly changed(once a year). To obtain an access token, please [upgrade your plan](https://cryptoquant.com/pricing) to Professional or Premium plan. You'll be able to see your access token on the [API tab](https://cryptoquant.com/settings/api) of your profile page after the subscription."}},"parameters":{"eth_exchange_oi":{"description":"A derivative exchange from the table that we support. [See here](#operation/ETHgetOpenInterest).","explode":false,"in":"query","name":"exchange","required":true,"schema":{"type":"string"},"style":"form"},"window_dbh":{"description":"Currently we support `day`, `hour`, and `block`.","explode":false,"in":"query","name":"window","schema":{"type":"string","default":"day"},"style":"form"},"from":{"description":"This defines the starting time for which data will be gathered, formatted as YYYYMMDDTHHMMSS (indicating YYYY-MM-DDTHH:MM:SS, UTC time). If window=day is used, it can also be formatted as YYYYMMDD (date). If window=block is used, you can also specify the exact block height (e.g. 510000). If this field is not specified, response will include data from the earliest time.","explode":false,"in":"query","name":"from","required":false,"schema":{"YYYYMMDDTHHMMSS":{"type":"string"}},"style":"form"},"to":{"description":"This defines the ending time for which data will be gathered, formatted as YYYYMMDDTHHMMSS (indicating YYYY-MM-DDTHH:MM:SS, UTC time). If window=day is used, it can also be formatted as YYYYMMDD (date). If window=block is used, you can also specify the exact block height (e.g. 510000). If this field is not specified, response will include data from the latest time.","explode":false,"in":"query","name":"to","required":false,"schema":{"YYYYMMDDTHHMMSS":{"type":"string"}},"style":"form"},"limit":{"description":"The maximum number of entries to return before the latest data point (or before `to` if specified). This field ranges from 1 to 100,000.","explode":false,"in":"query","name":"limit","required":false,"schema":{"type":"integer","default":100,"minimum":1,"maximum":100000},"style":"form"},"format":{"description":"A format type about return message type. Supported formats are json, csv.","explode":false,"in":"query","name":"format","required":false,"schema":{"type":"string","default":"json"},"style":"form"}},"responses":{"EstimatedLeverageRatio":{"description":"The amount of open interest of exchange divided by their ETH reserve","content":{"application/json":{"schema":{"$ref":"#/components/schemas/schemas_EstimatedLeverageRatioResponse"}}}}},"schemas":{"schemas_EstimatedLeverageRatioResponse":{"type":"object","required":["status","result"],"properties":{"status":{"$ref":"#/components/schemas/Status"},"result":{"type":"object","required":["windwow","data"],"properties":{"window":{"$ref":"#/components/schemas/Window"},"data":{"type":"array","items":{"type":"object","required":["estimated_leverage_ratio"],"properties":{"blockheight":{"$ref":"#/components/schemas/Blockheight"},"date":{"$ref":"#/components/schemas/Date"},"datetime":{"$ref":"#/components/schemas/Datetime"},"estimated_leverage_ratio":{"type":"decimal","description":"The amount of open interest in the given period and exchange divided by the ETH reserve of given exchange."}}}}}}}},"Status":{"type":"object","description":"The status object is return with most of requests and indicates if the request was successful. If it is not successful, error information is included.","properties":{"code":{"type":"integer","format":"int32","description":"HTTP status code"},"message":{"type":"string","description":"Text description of the error or success."}},"required":["code","message"]},"Window":{"type":"string","description":"The size of window. It can be day or block, and it depends on the user request."},"Blockheight":{"type":"string","description":"The height of the block. This optional field only appears when window=block is used."},"Date":{"type":"string","description":"The date in YYYY-DD-MM. This optional field only appears when window=day is used."},"Datetime":{"type":"string","description":"The date and time formatted as YYYY-MM-DD HH:MM:SS (UTC time). This field only appears when window=block is used."}}},"paths":{"/eth/market-indicator/estimated-leverage-ratio":{"get":{"tags":["ETH Market Indicator"],"summary":"Estimated Leverage Ratio","description":"By dividing the open interest of an exchange by their ETH reserve, you can estimate a relative average user leverage. Whenever the leverage value reaches a high, there is rapid volatility. Similar to Open Interest, but more accurate because it reflects the growth of the exchange itself. This is experimental indicator but it seems this reflects market sentiment. You can see how aggressive people are and how conservative they are in terms of investment. For 'In Progress' exchanges, estimated leverage ratio is not supported yet even though they provide open interest.\n__[Go to Data Guide‣](https://dataguide.cryptoquant.com/market-indicators/estimated-leverage-ratio)__\n","operationId":"ETHgetEstimatedLeverageRatio","parameters":[{"$ref":"#/components/parameters/eth_exchange_oi"},{"$ref":"#/components/parameters/window_dbh"},{"$ref":"#/components/parameters/from"},{"$ref":"#/components/parameters/to"},{"$ref":"#/components/parameters/limit"},{"$ref":"#/components/parameters/format"}],"responses":{"200":{"$ref":"#/components/responses/EstimatedLeverageRatio"}}}}}} ```