ZHIPU +7.3% to $141.5: OI Jumps 81%, Gate Adds 182%

ZHIPU trades up 7.3% with fresh volume

ZHIPU, the asset tied to the Chinese lab of the same name, is trading at $141.5, up 7.3% over the last 24 hours. Binance prints $141.54 with the same 7.34% gain, and OKX shows $141.73 at +7.55%, so the move is consistent across the two biggest venues. The 24-hour range runs from a low of $130.43 to a high of $147.89, which gives the token a roughly 13% intraday swing. Trading volume sits near $109 million across 13 exchanges, a level that puts ZHIPU in the same liquidity bracket as mid-cap DeFi tokens that have been listed far longer.

Open interest climbs 81% to $9.6 million

The notable part of this session is not the price move itself but the positioning behind it. Aggregate open interest for ZHIPU derivatives jumped 81.5% in 24 hours to $9.64 million. Gate leads the build with a 182% increase to $3.58 million, OKX added 40.5% to $3.03 million, and Bitget grew 88.7% to $2.55 million. Bybit is the only major venue trimming, down 34.7% to about $200,000. New money is entering the book rather than rotating out of it, and most of that fresh exposure is landing on venues where retail leverage demand has been climbing all week.

Funding stays positive across the board

Funding rates on ZHIPU remain positive on every exchange that reports them, which is a change from the pattern seen on many recent squeezes. Gate pays 0.0775%, Bybit 0.028%, Bitget 0.0135%, and Binance 0.0069% per funding interval. Positive funding means longs are paying shorts to hold, so this rally is being carried by spot and leveraged buyers who are willing to fund their positions, not by a short squeeze that would show up as a burst of short liquidations. The liquidation board confirms that read: the token does not appear among the top liquidation coins, with no large single wipe in the last session.

What to watch next

The risk profile here is straightforward. A +81% OI build on a token with a 13% daily range leaves the book vulnerable if the spot bid fades, because leveraged longs have little room before margin calls stack. The level to watch is the $147.9 high: a break above it on rising volume would likely pull more leverage in, while a failure there could trigger a fast unwind of the positions added today. For traders, the divergence between Gate and OKX adding while Bybit cuts is worth tracking, since it points to where the marginal buyer sits. For now the setup is a genuine demand story with positive funding, not a crowded squeeze, and that changes how the next pullback should be read.

Data as of Beijing time 10:55 on Aug 27, covering Binance, OKX, Bybit, Gate, Bitget, Hyperliquid and other major venues.