Largest Liquidation Orders

Where the data comes from

This page aggregates forced liquidations from 25 derivatives exchanges, including Binance, OKX, Bybit, Bitget, Gate, HTX and Hyperliquid. We subscribe to each exchange's public liquidation feed over WebSocket and reconcile gaps with REST snapshots. Summary figures refresh roughly every 30 seconds; the per-order feed streams in real time.

What each number means

24h Total is the combined notional value of all liquidated positions in the past 24 hours. Longs/Shorts splits that total by the side that was forced out: long liquidations occur when price falls, short liquidations when it rises. The 1h/4h/12h/24h windows recompute totals over each period. The exchange and coin rankings sort by liquidated notional, and Largest Liquidation shows the single biggest forced order with its pair, side and timestamp.

How it is calculated

Liquidation value = liquidated quantity × execution price, expressed in USD (coin-margined contracts are converted at the mark price). We count each exchange-reported forced order once; no estimates are added on top.

How to read it

1. A sharp price drop with long liquidations dominating usually signals a cascade: forced selling pushes price lower, triggering more longs.

2. A spike in total liquidations while price barely moves often marks leverage flushing out — volatility frequently cools afterwards.

3. If one exchange dominates the ranking, its user base is likely running higher leverage on that move.

Common misconceptions

Liquidation totals are notional position size, not trader losses — a $100M long liquidation does not mean traders lost $100M.

Heavy long liquidations are not automatically bearish: once over-leveraged longs are cleared, the market often finds a local bottom.

Limitations

Exchanges report liquidations differently. Binance, for example, pushes at most one order per symbol per second, so true totals there are understated; some venues publish only partial feeds. Cross-exchange totals should therefore be read as a lower bound, and venue-to-venue comparisons as approximate.

Updates & versioning

Data updates every ~30 seconds. The exchange list and any methodology changes are versioned and noted here. This page is for information only and is not investment advice.