SUI +8% to $0.779: OI Hits $555M, Gate Now Top Venue
SUI pushes to $0.779, a whisker from the 24h high
SUI traded at $0.779 on Binance at the time of writing, up 8% over 24 hours and sitting just below the $0.7811 session high. The move extends a rebound that started at a $0.7031 low, a round trip of roughly 10.7% off the bottom. OKX showed the same picture at $0.7783, and both exchanges agree the day's range was tight near the top, which points to sustained buying rather than a single liquidation spike.
OI climbs 11% to $555M as fresh leverage comes in
Aggregate open interest across 19 venues rose 11.09% in 24 hours to $555M, roughly double the pace of the price gain. That combination, higher price plus faster-growing positioning, usually means new longs are opening instead of old ones closing. Bybit grew fastest at 22.92%, while OKX added 16.26% and Binance 11.18%. The four-hour numbers are still positive across the board, so the build has not faded yet.
Gate overtakes Binance as the top SUI futures venue
The notable structural shift is venue leadership. Gate now holds $107.6M in SUI open interest, 19.38% of the total, edging out Binance at $99.3M, or 17.9%. Binance was the reference venue in earlier sessions, so this is a rotation worth watching. Bybit at $70.8M and Bitget at $47.9M round out the top tier. No single exchange controls more than a fifth of the market, which keeps liquidation cascades less likely than in single-venue dominated coins.
Funding stays cold at 0.01%, shorts still paid the bill
Despite the 8% jump, funding remains low. Binance and OKX both show 0.01% per 8 hours, and Hyperliquid sits at 0.00125% per hour. If leveraged longs were piling in aggressively, funding would have moved higher. It has not, which suggests the rally is being driven more by spot buying and longer-dated positioning than by crowded perp leverage. Liquidation data over 24 hours shows the damage skewed to shorts, with $0.97M in short liquidations against $0.55M in longs. The imbalance fits a steady grind that keeps forcing bears to cover at higher prices, but the cold funding also means there is no crowded short side left to fuel a squeeze if the move stalls.
What to watch next
Two things decide whether SUI holds the breakout. First, whether open interest keeps climbing above $555M, since a rising OI with a flat price would signal distribution. Second, whether funding finally lifts off 0.01%, which would show leveraged longs chasing the move rather than leading it. If SUI clears $0.7811 with volume, the next reference zone is the late-August high; a rejection at the 24h top with OI rolling over would favor a pullback toward $0.74.
Data as of 10:50 Beijing time on September 3, 2026, covering Binance, OKX, Bybit, Gate, Bitget, Hyperliquid and other major exchanges.