Why Open Interest Matters
Open interest counts live positions, not trades — and its change is the tell. A move on rising open interest is backed by fresh positioning (conviction); the same move on falling open interest is an unwind. On Hyperliquid, where there is no public market-wide liquidation feed, open-interest change is the cleanest read on how positioning is shifting.
How vyx Scans It
vyx tracks open interest, its candle-to-candle change, and percentage change (oi, oiDelta, oiDeltaPct) live across the Hyperliquid universe. Find new positioning into a one-sided book with oiDeltaPct >= 1 && absImb >= 30, or require sustained growth with count(oiDelta > 0, 5) >= 5. Open interest sits on the same heatmap as funding, imbalance, and CVD, so you read positioning and flow at once.
FAQ
What does rising open interest tell me?
That new positions are opening. Combine it with price direction: up-price with rising open interest is new longs; up-price with falling open interest is short covering.
Does vyx show Hyperliquid liquidations?
No. Hyperliquid exposes no public market-wide liquidation feed (only per-user data), so vyx does not populate liquidation metrics. Open-interest change is the proxy for forced unwinds.