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DATA · OPTIONS OPEN INTEREST

Crypto Options Open Interest: Null vs Zero - Handle Missing Fields Correctly

Options open interest is reported per instrument and has units that differ by product. Zero OI on a strike is a real reading; a missing instrument is not.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

Deribit reports open_interest for derivatives only; for options and linear futures it is in the underlying base currency (coins), while perpetuals and inverse futures use USD. A strike with open_interest 0 has no open contracts — a real, useful reading for max-pain or exposure calculations. An instrument missing from the response (expired, not yet listed, filtered by kind) is unknown for that snapshot. Aggregate OI only across instruments with the same units and expiry snapshot time.

Fields and what missing values mean

FieldNull / absent meansZero / empty means
open_interestInstrument absent: unknown0: no open contracts
UnitsOptions: base currency coins—
Perp/inverse OIUSD units—
Expired instrumentsAbsent—
Snapshot timecreation_timestamp—
Options Open Interest: how to read each fieldOptions Open Interest: how to read each field: open_interest — Instrument absent: unknown; Units — Options: base currency coins; Perp/inverse OI — USD units; Expired instruments — Absent; Snapshot time — creation_timestamp.open_interestInstrument absent: unknownUnitsOptions: base currency coinsPerp/inverse OIUSD unitsExpired instrumentsAbsentSnapshot timecreation_timestamp
Options Open Interest: missing vs zero, field by field. Original ChartsPod editorial graphic.

Test Crypto Options Open Interest on a perpetual chart; no account is needed to chart.

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Handling policy

Policy for this sourcePolicy for this source: Keep zero OI strikes; Don't mix coin and USD units; Record snapshot timestamp; Separate expiries; Flag missing instruments.POLICY FOR THIS SOURCEKeep zero OI strikesDon't mix coin and USD unitsRecord snapshot timestampSeparate expiriesFlag missing instruments
Apply this policy to every options open interest request. Original ChartsPod editorial graphic.

Illustrative: a max-pain calculation drops all zero-OI strikes and the remaining strikes shift the result. Zero-OI strikes contribute nothing to payouts, but they are valid parts of the strike grid and their absence should be a decision, not an accident.

Conclusion

Related: Crypto Options Chain Data: Null vs Zero - Handle Missing Fields Correctly, Crypto Options Trade Data: Null vs Zero - Handle Missing Fields Correctly.

Aggregate OI only across instruments with the same units and expiry snapshot time.

See Crypto Options Open Interest on live data in the free ChartsPod terminal.

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Questions readers ask

What units is Deribit options OI in?

The underlying base currency.

Is zero OI a gap?

No; no contracts are open.

Can I add option OI to perp OI?

Not without unit conversion.

Sources and methodology

Field definitions come from DEX Screener's API reference, CoinGecko's onchain API documentation and Binance's Spot API documentation, read 17 October 2026. Where a schema was not visible in the documentation, this guide says so and describes defensive handling rather than asserting field behaviour.

  1. Deribit API: get_book_summary_by_currency — nullable bid/ask/mid/last/low/price_change; options-only mark_iv, interest_rate, underlying_price; OI units.
  2. Deribit Insights: Maximum pain — max pain from OI at one expiry.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.