Improvements to Open Interest Data

We would like to announce several important improvements to the accuracy and consistency of our open interest data across futures and options markets.

1. Standardized Option Contract Units

Previously, Deribit Options and Binance Options reported open interest in units of the underlying asset instead of reporting it in the widely-held industry convention of reporting it in contract units. For example, if open interest increased by one contract, Deribit would report open interest as increasing by 1,000 because one contract has a notional size of 1,000 XRP. Other exchanges would report the open interest as increasing by 1. 

We’ve corrected this behavior for Deribit Options and Binance options and recalculated all historical values. The contract_count field for all options open interest metrics is now consistently expressed in contract units, regardless of how the exchange originally reported it.

2. Deprecation of the value_usd Field

The value_usd field in our /timeseries/market-openinterest and /timeseries-stream/market-openinterest endpoints was previously calculated using hardcoded logic that no longer reflects current contract specifications across all exchanges.

To address this, we have:

• Deprecated the value_usd field in our API.
  
• Introduced new, more accurate metrics available via the /timeseries/market-metrics endpoint. These two metrics should be used as a replacement for the value_usd field going forward:
  
  • open_interest_reported_future_usd to represent the notional value of open interest in U.S. dollars for futures markets
    
  • open_interest_reported_option_notional_usd to represent the notional value of open interest in U.S. dollars for options markets
    
• We also introduced open_interest_reported_option_market_value_usd to represent the market value of open interest in U.S. dollars for option markets.

3. Fix to open_interest_reported_option_*_notional_usd and open_interest_reported_option_*_market_value_usd metrics

The previous issue identified above with Deribit Options and Binance Options reporting open interest under a different convention also affected our open_interest_reported_option_*_notional_usd and open_interest_reported_option_*_market_value_usd metrics. All data has been recomputed to ensure complete accuracy.

We appreciate your understanding and continued feedback as we refine our data accuracy. For questions or migration support, please contact [email protected].