Long/Short Ratio (trader positioning)
What it shows
The ratio of accounts holding long positions to accounts holding short positions on derivatives exchanges (Binance Futures, OKX and Bybit; global accounts, 5-minute periods) for roughly the 10 largest coins. The "Data view" switcher at the top of the page picks the source: the combined view merges exchanges by priority (with a breakdown of each venue's contribution), while a single-exchange view shows only that venue's numbers. The table shows the current Long%/Short% split, the Ratio value and its 5-minute, 15-minute and 1-hour changes. The line chart tracks the Ratio history with a 1.0 balance reference line.
How to read it
Click a table row to see the Ratio history for that coin (4 h–7 d). The gold dashed line marks 1.0: the long/short balance. Treat readings as sentiment context, not a trade signal: extreme crowd positioning has historically preceded opposite moves more often than confirming ones.
Parameters
- Ratio (Long/Short)
- Ratio > 1 = more accounts hold longs; Ratio < 1 = more accounts hold shorts; 1.0 = balance.
- Positive reading: Values close to 1.0: a balanced market without extreme crowd positioning.
- Negative reading: Extreme readings (e.g. >1.5 or <0.6): a one-sided crowd has historically been vulnerable to sharp opposite moves (squeezes).
- Neutral reading: This counts accounts, not volume, so a whale counts the same as a small trader.
- Long % / Short %
- The percentage of accounts holding long vs short: the two columns add up to 100%. The same reading as Ratio, expressed as percentages.
- Neutral reading: 50%/50% corresponds to Ratio 1.0 (balance); 66%/33% is a Ratio of about 2.0.
- Δ5m / Δ15m / Δ1h changes
- How fast positioning is shifting: a positive change = longs are growing, negative = shorts are growing.
- Neutral reading: A sharp 5–15 minute shift often accompanies large price moves, so it is worth comparing with the chart.
- Trend
- The arrow summarises the recent direction of the Ratio: ↗ longs are growing, ↘ shorts are growing, → no clear shift.
- vs 24h avg
- The deviation of the current Ratio from its 24-hour average. Positive = positioning is more long than usual, negative = more short than usual.
- Neutral reading: Helps filter out coins that always run a high Ratio: what matters is the deviation from their own norm, not the raw value.
- Funding
- The perpetual funding rate: positive = longs pay shorts (demand skewed to upside bets), negative = shorts pay longs.
- Negative reading: A very high positive funding alongside a high Ratio means overheated longs; historically prone to sharp corrections (long squeeze).
- OI and OI 24h
- Open Interest: the total value of open contracts (USD) and its 24-hour change. Rising OI means new capital is entering, while falling indicates positions are being closed.
- Neutral reading: Price moves with rising OI have historically been more durable than moves on falling OI (position unwinding).
- OKX
- The same Long/Short ratio measured on OKX is a second, independent sample. Agreement with Binance strengthens the reading, while a large gap is an exchange-local signal.
- Bybit
- A third independent positioning sample is Bybit accounts. When Binance, OKX and Bybit agree, the reading describes the whole market; when one venue stands out, it is usually venue-local, not a shift in sentiment.
Example
BTC shows a Ratio of 1.35 with Δ1h +0.12, which means long accounts grew notably over the last hour. Historically such one-sided positioning has been prone to corrections; context for caution, not an invitation to trade.