The short answerCoinglass is the quickest way to see how the derivatives market is positioned: funding rates, open interest and long/short ratios aggregated across venues, with a free tier that covers what most traders need. Its liquidation heatmaps are reconstructions from throttled exchange feeds, so read them as pressure zones rather than data.
Best forDerivatives positioning and liquidation data
Data accuracyweight 25%
7.5avg 8.1
Feature depthweight 20%
8.0avg 8.1
Value for moneyweight 20%
8.5avg 7.6
Coverageweight 15%
8.5avg 8.3
Data handling & securityweight 10%
8.0avg 8.2
Usabilityweight 10%
8.0avg 8.0
this service category average across 15Score = Σ mark × weight. Recommendable to most readers, with stated caveats. Methodology.
| Criterion | Mark | What we found | Source | Checked |
|---|
| Data accuracy | 7.5 | not sourced yet | not sourced yet | — |
| Feature depth | 8.0 | not sourced yet | not sourced yet | — |
| Value for money | 8.5 | not sourced yet | not sourced yet | — |
| Coverage | 8.5 | not sourced yet | not sourced yet | — |
| Data handling & security | 8.0 | not sourced yet | not sourced yet | — |
| Usability | 8.0 | not sourced yet | not sourced yet | — |
What we liked, and what fell short
Liked- Aggregates funding and open interest across most major venues
- Free tier covers what most traders need
- Liquidation heatmaps are genuinely useful for level-setting
Fell short- Liquidation figures are estimates from throttled exchange feeds
- Presentation encourages reading precision into approximate data
Why the marks landed where they did
Positioning drives short-term crypto price action more than most narratives admit, and Coinglass is the cheapest way to see it. Funding across venues, aggregate open interest, long-short ratios and liquidation clusters, updated continuously and mostly free.
What to trust and what to discount
Funding rates and open interest come from exchange APIs and are reliable. Liquidation data is different: most exchanges throttle or sample their liquidation streams, so the totals shown are reconstructions rather than measurements. Liquidation heatmaps in particular are models of where leverage probably sits, not maps of where it definitely is. They are useful for identifying price levels that could accelerate a move, and misleading if read as precise.
Practical use
Persistently elevated funding on one side, rising open interest and a crowded long-short ratio is the classic setup for a squeeze in the opposite direction. Coinglass shows all three on one screen, which is its real value — no other free tool assembles the picture as quickly.
Cost
The free tier is generous and covers most needs. Paid plans from around $29 a month add historical depth, more granular data and API access.
Who should use it
Any trader with leveraged exposure, and any spot trader who wants to know whether a move is being driven by derivatives positioning. Pair with TradingView for price and DefiLlama for on-chain context.
FAQ
Are Coinglass liquidation numbers accurate?+
They are estimates. Exchanges throttle their liquidation feeds, so displayed totals and heatmaps are reconstructions — useful as pressure zones, unreliable as measurements.
Is the free version of Coinglass enough?+
For most traders yes. Paid plans mainly add historical depth, granularity and API access.
What does funding rate tell me?+
Which side of the perpetual market is paying to hold its position. Persistently high positive funding means longs are crowded and paying for it, which often precedes a squeeze.
Which exchanges does Coinglass cover?+
Most major derivatives venues including Binance, OKX, Bybit and Hyperliquid, aggregated into cross-venue views.
