Futures & Derivatives

Long/Short Ratio explained

Long/Short ratio

Quick definition: The Long/Short ratio shows, among accounts with open positions, what percentage are Long and what percentage are Short.

Exchanges such as Binance, OKX and Bybit publish this ratio periodically. For example, 65% Long / 35% Short means that out of every 100 accounts with positions, 65 are betting on a rise.

This ratio measures the number of people, not the amount of money. A whale Shorting $10 million still counts as just one account.

When the crowd leans heavily to one side (above 70% or below 35%), the market often moves the other way to flush out the crowded side. It's best read alongside funding and Open Interest for more confidence.

💡 Example

BTC has 72% of accounts Long, high positive funding and sharply rising OI: Longs are very crowded, increasing the risk of a drop that sweeps out Longs.

📊 View the Long/Short ratio across exchanges →

Related terms

Long and ShortLong means betting the price will rise; Short means betting it will fall. On futures, you can profit in either…Funding rateFunding rate is a periodic fee that Longs and Shorts pay each other on perpetual contracts, keeping the contra…Open Interest (OI)Open Interest is the total value of futures contracts that are still open (not yet closed) in the market.…Long squeezeA long squeeze is when a sharp price drop triggers cascading Long liquidations, pushing the price even lower.…

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Educational content for reference only, not financial advice. Leveraged trading carries the risk of losing your entire capital.