CoinGlass
CoinGlass is a cryptocurrency derivatives data analysis platform that aggregates real-time market data from major global exchanges and presents it through metrics, charts, and visualization tools. Established in 2019, the platform focuses on derivatives-specific indicators such as open interest, funding rates, liquidations, options data, and exchange-traded fund (ETF) flows, alongside spot prices and order-flow analysis.[1]
Overview
CoinGlass positions itself as a one-stop source of cryptocurrency market data, concentrating on the derivatives market rather than spot trading alone. The company states that it integrates real-time data streams from major global exchanges and applies multi-dimensional analysis methods and technical processes to convert raw information into market intelligence.[3] Its stated scope centers on core derivative indicators including contract trading volume, position reports, funding-rate changes, network-wide liquidation tracking, and options product analysis.[3] The platform supports user customization, allowing data modules and indicators to be chosen, added, hidden, or rearranged, and lets users build their own indicators and strategies.[3][2]
CoinGlass states that its data team is composed of professionals with experience in quantitative trading and data analysis, which it presents as the basis for the accuracy and reliability of its platform data. Its stated vision is to present the most accurate data of the cryptocurrency derivative market to global users and to improve the transparency of the field.[2] On RootData the project is categorized under the tags Tools, Data & Analysis, and Market Data, and described as a "Crypto derivatives data & liquidation analysis platform."[1]
The platform's main interface organizes network-wide cryptocurrency data into a structured overview combining real-time prices, percentage changes across periods such as 24 hours and 7 days, funding rates for perpetual contracts, trading volume, market capitalization, open interest, and liquidation summaries.[3] Percentage changes are color-coded, a convention that varies by region or user setting, with red and green used to indicate increases or decreases depending on preference.[3] The platform also tracks Bitcoin spot ETF net flows across issuers including GBTC, IBIT, FBTC, ARKB, BITB, BTCO, HODL, BRRR, EZBC, BTCW, and MSBT, aggregated into a total figure.[4]
Data and Metrics
CoinGlass aggregates derivative data across multiple exchanges and presents it through a tabular overview that includes symbol, price, 24-hour price change, funding rate, 24-hour volume and volume change, market capitalization, open interest with one-hour and 24-hour changes, and 24-hour liquidations.[4] The core metrics the platform provides are contract open interest, funding rates, liquidations, options data, ETF flows, and order flow.[1]
Funding rate data covers perpetual contracts from major exchanges, with historical charts of funding-rate trends available. Trading volume figures aggregate cumulative amounts and transaction counts within set time periods to indicate liquidity and market activity, and market capitalization data is included to assess the relative size and weight of projects.[3] The platform also displays total open interest and network-wide liquidation summaries as derivatives-specific indicators.[3]
Liquidation data is one of the platform's central focuses. CoinGlass explains liquidation as a high-risk event in leveraged derivatives trading, occurring when a trader's margin falls below an exchange's maintenance requirement and the exchange forcibly closes the position; it notes that mass liquidations can intensify volatility and produce a "liquidation cascade."[3] The company states it aggregates real-time liquidation data from major exchanges worldwide, naming Binance, OKX, Bybit, and BitMEX as examples of its coverage.[3] Users can view total real-time liquidation amounts across the market, long and short splits, liquidation details for specific coins such as BTC, ETH, and various altcoins, the distribution of liquidations across exchanges, cumulative figures over one-hour, four-hour, 24-hour, or longer timeframes, and historical liquidation data.[3]
Products and Features
CoinGlass offers a set of visualization and monitoring tools built on its underlying data, ranging from heatmaps and charting systems to the real-time tracking of large on-chain traders.
Liquidation and Liquidity Heatmaps
The Liquidation Heatmap predicts price levels at which large-scale liquidations may occur by analyzing market data across various leverage levels with algorithmic models. CoinGlass emphasizes that the heatmap identifies potential liquidation concentration zones rather than the actual number of liquidations or exact closing prices.[3] Its color scale moves from cooler tones such as purple to warmer tones ending in yellow as estimated concentration increases, with yellow marking the highest predicted concentration. The company advises interpreting the heatmap as relative estimates, and users can filter it by exchange and trading pair and review historical data.[3] Liquidation data can also be visualized through bar charts in addition to heatmaps.[3] Separately, a Liquidity Heatmap is offered to reveal support and resistance levels.[1]
ETF Flow Monitoring
CoinGlass tracks the flows of cryptocurrency ETFs, explaining that spot crypto ETFs require the fund manager to actually purchase and hold the underlying cryptocurrencies, so inflows require the manager to buy the underlying assets and outflows require selling them.[3] The company describes itself as "the most timely and precise cryptocurrency ETF inflow and outflow monitoring platform on the internet," asserting broad coverage across markets where Bitcoin spot ETFs and other crypto-related ETFs are approved and stating that it updates daily flow data as soon as issuers or authoritative sources release it.[3] It reports using multi-source validation and data cleansing for metrics such as daily and cumulative flows, assets under management (AUM), and changes in holdings, presenting them through charts and tables to assess ETF performance and institutional capital flows.[3]
Hyperliquid Whale Monitoring
The Hyperliquid Whale Monitoring feature tracks large traders in real time on Hyperliquid, which CoinGlass characterizes as a decentralized perpetual contract exchange built on its own Layer 1 blockchain with a fully on-chain order book, permissionless trading, low latency, and high throughput, designed to offer centralized-exchange-like performance while retaining self-custody and transparency.[3] The feature shows the opening and closing of large orders in real time, specifying trading pairs, directions, order types, and order sizes. For each whale address or activity it provides current position details including notional value, leverage multiple, margin balance, and liquidation price.[3]
Charting Tools
CoinGlass provides Professional charts that aggregate real-time and historical price data from major exchanges so that each candlestick's open, close, high, low, and volume are consistent across sources. Users can select timeframes from minute-level to weekly and apply technical indicators including Moving Averages (MA), the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Bollinger Bands, the Ichimoku Cloud, and various oscillators and trend indicators.[3] These charts integrate platform data such as open interest, funding rates, and traces of large orders or whale activity, and support drawing tools including trendlines, Fibonacci retracements and extensions, channels, and pattern-recognition aids, as well as saved personalized layouts.[3] These charting tools can overlay multi-dimensional derivatives data on standard price candlesticks.[1]
A more advanced offering, CoinGlass Legend, is presented as a professional-grade K-line chart solution combining technical analysis with market depth and order-flow data. It embeds a Liquidity Heatmap overlaid on the candlestick chart, includes Footprint Chart Analysis that shows the comparative volumes of aggressive buys and sells within each candlestick, and integrates real-time large-trade data with distinctive markers to highlight significant orders.[3] The Footprint Chart can display buying and selling pressure, absorption behavior, and potential exhaustion or breakout confirmation points.[3]
CoinGlass Derivatives Index
The CoinGlass Derivatives Index (CGDI) is a crypto derivatives price index independently developed and maintained by the CoinGlass Research Institute. CoinGlass presents it as a transparent, objective, and real-time benchmark for tracking the performance of the global crypto derivatives market.[5] The index dynamically tracks the mark prices of perpetual futures contracts on major assets such as BTC, ETH, SOL, and XRP, applying value-weighting based on open interest to produce a representative indicator of overall derivatives market trends.[5]
The index is constructed from the top 100 perpetual futures contracts ranked by open interest in US dollars, drawn from major exchanges including Binance, Bybit, OKX, and Coinbase. It includes only high-liquidity, non-anomalous standard perpetual contracts, and explicitly excludes stablecoin contracts, leveraged tokens, delivery contracts, and wrapped assets.[5] Each constituent is weighted by its open interest value in USD, so that an asset's weight reflects its proportion of total open interest across all selected contracts. Constituents and weights are rebalanced in real time as open interest changes, and contracts that are delisted or experience extreme anomalies are promptly removed or replaced.[5]
The index is calculated in US dollars with a baseline of 1000 points set at its first official publication at 00:00 UTC, with values reflecting market-weighted price movements relative to that baseline. CoinGlass aggregates mark prices and open interest from multiple exchanges, filters outliers, and performs weighted aggregation in real time, with updates synchronized via API and front-end chart displays.[5] The company argues that over 80% of crypto trading volume now originates from derivatives markets and that mainstream spot indices fail to reflect the core mechanisms driving price formation, positioning CGDI as a tool to fill that gap.[5]
CGDI is intended for use as a core indicator of derivatives market price trends, a benchmark for structured products such as options and synthetic assets, an input signal for quantitative or algorithmic systems, and a standardized reference for media and institutional research.[5] Access is offered through real-time API access with RESTful support, chart widgets for terminal or website integration, and media reference and commercial licensing partnerships. The index page also carries a disclaimer section.[5]
