If futures open interest for all exchanges goes upwards, it's likely to happen big moves as cascade liquidation happens. In the bull market, aggregated funding rate for all exchanges usually helps to capture the bottom.
By dividing the open interest of exchange by their BTC reserve, you can estimate relative average user leverage. Whenever the leverage value reaches a high, there is rapid volatility. Similar to Open Interest, but more accurate because it reflects the growth of the exchange itself. You can see how aggressive people are and how conservative they are in terms of investment.