The ratio of futures open interest to market capitalization. This metric measures the size of outstanding derivatives positions relative to the asset's market value.

Higher values indicate greater leverage exposure relative to the asset's size. This metric can be viewed per exchange or aggregated across all exchanges (default).

This is the Point-in-Time (PiT) variant of Open Interest / Market Cap. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.