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| Exchange | Long | Short | L/S | Split |
|---|---|---|---|---|
 |
74.6% | 25.4% | 2.94 | |
 |
71.1% | 28.9% | 2.47 | |
 |
68.8% | 31.2% | 2.21 | |
 |
64.2% | 35.8% | 1.79 |
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The Ethereum long short ratio shows how leveraged ETH positioning is split between longs and shorts across Binance, Bybit, Bitget and OKX. A ratio above 1 means long notional is larger than short notional, while a ratio below 1 means shorts are larger.
The ETH long short ratio on this page is calculated from the combined long and short notional shown across the exchanges we track. The exchange table makes it possible to compare ETH longs vs shorts venue by venue, while the historical long short ratio chart shows how positioning has changed over time.
A high long short ratio does not automatically mean ETH is bullish. Positioning can become crowded in either direction, so the ratio is more useful when read alongside funding rates, open interest and liquidations. The same applies to any crypto long short ratio: it shows positioning imbalance, not a standalone price signal.
The Ethereum long short ratio compares the notional value of leveraged ETH long positions with short positions. A value above 1 means longs are larger than shorts; below 1 means short positioning is larger.
The aggregate ratio is calculated as total long notional divided by total short notional across the exchanges shown on the page. The percentage split expresses the same positioning as the share held by longs versus shorts.
Positioning is different on every venue because traders, liquidity and market structure differ. That is why Binance, Bybit, Bitget and OKX can show noticeably different long/short splits at the same time.
Not by itself. A high long short ratio indicator reading shows that positioning is tilted toward longs, but heavily crowded longs can also increase liquidation risk if the market moves lower. Funding rates and open interest provide useful additional context.
The long vs short ratio is mainly a positioning measure. Long vs short crypto data can help show whether leveraged traders are leaning heavily in one direction, but it should not be treated as a direct forecast of the next price move.