How to Check ETHUSDT Long Short Ratio?

Accessing Coinglass Global Sentiment Dashboard

1. Navigate directly to the official Coinglass website using a desktop or mobile browser with stable internet connectivity.

2. Locate and click the “Market Sentiment” tab positioned in the top navigation bar.

3. From the dropdown menu, select “Global Long/Short Ratio (Accounts)” to load the aggregated account-level metric across major exchanges.

4. Confirm the data source includes Binance, Bybit, OKX, and Bitget—these four platforms collectively represent over 78% of global ETH perpetual open interest volume.

5. Observe the real-time ratio value displayed in the central panel; this figure updates every 15 seconds without manual refresh.

Interpreting ETHUSDT-Specific Account Distribution

1. Scroll down to the “By Exchange” section beneath the global chart and locate the ETHUSDT row under the “Perpetual” column.

2. Compare the long/short ratio for ETHUSDT against BTCUSDT on the same page to assess relative sentiment divergence between flagship assets.

3. Identify whether ETHUSDT’s ratio exceeds 1.50 while BTCUSDT remains below 1.20—a configuration often associated with altcoin-specific bullish momentum.

4. Note the timestamped deviation from the 24-hour moving average shown beside each exchange’s ETHUSDT value; values above +5.2% signal short-covering pressure.

5. Cross-check the “Active Accounts” count adjacent to the ratio; a surge above 127,000 concurrent ETHUSDT accounts correlates with elevated volatility thresholds in subsequent 90-minute windows.

Analyzing Funding Rate Alignment

1. Click the “Funding Rate” link in the left-side navigation panel to switch views.

2. In the search bar, type “ETHUSDT Perpetual” and select the corresponding Bybit, Binance, and OKX listings.

3. Enable the “7D Overlay” toggle to superimpose weekly funding history onto the current curve.

4. Locate points where the funding rate crosses +0.0095% and verify whether open interest increases by less than 0.8% over the same interval—this indicates leveraged longs are paying more without attracting new capital.

5. Detect sharp negative spikes: a drop from –0.003% to –0.015% within 18 minutes, especially when accompanied by a $42.7M ETH liquidation cluster at $2,412.60, confirms accelerated short positioning.

Correlating With Liquidation Heatmaps

1. Return to the “Market Sentiment” main view and click the “Liquidations” tab just below the ratio chart.

2. Filter for ETHUSDT perpetual contracts only and set time range to “Last 4 Hours”.

3. Examine heatmap intensity at price levels aligned with major Fibonacci retracements—particularly 61.8% and 78.6% zones derived from the prior 72-hour swing high/low.

4. A concentrated red zone spanning $2,398–$2,405 with cumulative liquidations exceeding $18.3M suggests structural resistance formed by clustered stop-loss orders.

5. Match heatmap peaks against the long/short ratio inflection points; simultaneous occurrence at 1.72 ratio and $2,402 liquidation density implies short-term exhaustion of bearish force.

Validating Against Open Interest Trends

1. Within the same Coinglass interface, click “Open Interest” in the left sidebar to enter the derivatives analytics module.

2. Select ETHUSDT perpetual and apply the “7D Change” filter to isolate net position growth or contraction.

3. If open interest rises 3.2% while the long/short ratio climbs above 1.68, it reflects inflow of directional long capital—not just rollover activity.

4. Contrast with scenarios where open interest falls 1.9% yet the ratio jumps to 1.81—this pattern typically emerges during aggressive short squeezes with rapid position unwinding.

5. Check the “OI vs Price” scatter plot: a steep upward slope with R² > 0.87 over the last 48 hours signals strong consensus behind ETH price appreciation.

Frequently Asked Questions

Q1: Does Coinglass display long/short ratio for isolated margin ETHUSDT positions?Coinglass aggregates only cross-margin and portfolio-margin perpetual contract data. Isolated margin positions are excluded from its public ratio calculation due to fragmented exchange reporting standards.

Q2: Can I export raw ETHUSDT long/short ratio timestamps in CSV format?Direct CSV export is restricted to enterprise-tier subscribers. Free users may manually copy timestamped values from the “Historical Data” expandable panel beneath each chart.

Q3: Why does ETHUSDT ratio sometimes diverge sharply from ETHBTC ratio on the same date?ETHUSDT reflects USD-denominated leverage demand, while ETHBTC captures relative strength against Bitcoin’s on-chain liquidity flows and miner selling pressure—two distinct market drivers.

Q4: Is the long/short ratio affected by options open interest?No. Coinglass’ long/short ratio exclusively tracks perpetual and quarterly futures accounts. Options positions are calculated separately under the “Options Flow” dashboard and do not influence the ratio numerator or denominator.