Each exchange's funding, weighted by its open interest, so the venues holding the most money count the most. This is the true market cost of carry. When it pulls away from the simple average, leverage is concentrated on the biggest venue. Live, glass-box, from Binance, Bybit and OKX. Not financial advice.
loading live funding and open interest…
Bar shows the OI-weighted funding (green = crowded long, red = crowded short) · tap a column to sort
How this is built (glass-box): we pull each exchange's live funding rate and its live open interest, then compute OI-weighted funding = Σ(funding × open interest) ÷ Σ(open interest) across Binance, Bybit and OKX. Bigger venues move the number more, so it reflects where leverage really sits. The divergence column is the gap between the OI-weighted rate and the simple average, a large gap means one big venue is dominating positioning. Funding and open interest come straight from each exchange's public API, combined in your browser. No third-party aggregator. Not financial advice.