The ratio of open interest to futures trading volume. This metric indicates how long it would take to turn over all open positions at the current trading rate.

Higher values suggest positions are being held longer relative to trading activity, while lower values indicate more active position turnover. This metric can be viewed per exchange or aggregated across all exchanges (default).

This is the Point-in-Time (PiT) variant of Open Interest / Volume. 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.