Bitcoin and Ethereum derivatives market shows rising open interest

Cryptocurrency derivatives markets for Bitcoin and Ethereum are experiencing a buildup in open interest, signaling increased trader commitment. As of late October 2026, combined open interest across Bitcoin, Ethereum, and Solana reached approximately $41.6 billion.

Bitcoin options open interest was recorded at $37.26 billion, with call options maintaining a majority in both outstanding positions (59.71%) and daily trading volume (54.23%). Significant concentrations of open interest were noted in call options at strike prices of $90,000, $95,000, and $100,000.

Ethereum options open interest rose 3.75% to $6.27 billion. Call options dominated the market, accounting for 63.16% of open interest and 63.66% of 24-hour trading volume. The largest outstanding contracts included Deribit’s December 25 $3,200 call.

While open interest is rising, funding rates suggest that long positions are not currently overcrowded. Bitcoin longs were paying shorts approximately 6.3% annualized, and Ethereum longs were paying approximately 6.8% annualized, which analysts describe as a constructive sign of returning risk appetite without excessive froth.