Large Positions

This page tracks the direction, size and changes of individual large accounts. On on-chain perpetual venues such data is read straight from the public ledger; on centralised exchanges it depends on voluntarily disclosed account-tier statistics.

The central trap in tracking large accounts is reading a position as an opinion. Big books routinely contain market-making hedges, cross-venue arbitrage legs and delta hedges against structured products — positions that look directionally committed but carry no price view. A sound filter excludes accounts simultaneously holding offsetting exposure and favours addresses with long holding periods and gradual scaling. On-chain, also account for a single entity splitting across many addresses.

Volume and market-structure metrics describe the size and distribution of trading activity. Methodologies differ sharply between venues (wash-trading filters, USD conversion), so confirm the accounting basis before comparing platforms side by side.

The live chart for this metric is still being wired up. Global volume, venue share and perp-vs-spot pages already carry real data.