# 未平仓量

## Definition

Open interest is defined as the number of open positions (including both long and short positions) currently on a derivative exchange's BTC/USD trading pairs.

## Interpretation

A large value of open interest can indicate increased **volatility** in the price of BTC. For this reason, an open interest chart could also be useful for determining the market tops and bottoms with additional indicators.

## Use Case

### Statistical Correlation Analysis to Volatility

We find that open interest (independent variable) and volatility (response variable) are statistically in **positive correlation** where p-values of F-statistic (for linear model) and the slope are less than 0.001. R-square of the model is estimated as 0.36 where the value is reasonably high considering financial raw data.

![](https://2200722702-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MBHQ44vVRUAbLIaMwGN%2F-MCB-pPvFqO8ftIvGYQ3%2F-MCBUg6ooEjgEGsdPI3O%2Fimage.png?alt=media\&token=c225e448-e6c3-4d70-ab7d-5c0e6f1ca5b4)

The settings for this experiment are the followings:

* We consider date range from '2018-11-05' to '2020-06-01'.
* We resample the data in 15 days to compute volatility. 
* Volatility is computed as subtraction of max to min value of every resampled window.
* Values in the above chart are in log form.

## Link to Our Data

* [Open Interest in CryptoQuant Live Chart](https://cryptoquant.com/overview?search=open+interest)
* [Open Interest in CryptoQuant Data API docs](https://cryptoquant.com/docs/#operation/getOpenInterest)