$1.5K of leveraged AR positions were liquidated on Hyperliquid over the latest complete day — 20 liquidation events, 0% of everything liquidated that day. Most of it was longs being force-closed, which points to a move down catching leveraged positions on the wrong side. Every number here comes from on-chain settled fills — not an estimate reconstructed from exchange order books.
AR liquidations — the last 30 days
Over the last 30 days, $89.8K in AR positions was liquidated on Hyperliquid across 18 days with liquidations — about $5.0K per day. The heaviest day was 2026-09-19, with $39.8K force-closed — roughly 8× a typical day. The latest complete day came in below that average.
Shorts absorbed 85% of the 30-day damage: most AR liquidations came on squeezes upward.
All markets side by side live on the liquidations hub; for contrast, see BTC liquidations.
Which markets got hit
Top markets by liquidated notional on the latest complete day.
| Market | Total | Longs | Shorts | Split | Events |
|---|---|---|---|---|---|
| BTC | $30.4M | $27.0M | $3.3M | 4,086 | |
| NEAR | $12.3M | $12.3M | $6.9K | 3,263 | |
| HYPE | $8.2M | $8.2M | $543 | 2,235 | |
| ZEC | $6.1M | $6.1M | — | 1,548 | |
| SOXL | $5.3M | $5.2M | $128.3K | 345 | |
| ONDO | $3.5M | $3.4M | $90.0K | 941 | |
| GOLD | $2.9M | $2.9M | — | 905 | |
| SILVER | $2.9M | $2.9M | — | 676 | |
| META | $2.8M | $2.8M | $4.0K | 528 | |
| ETH | $2.7M | $1.9M | $759.6K | 672 | |
| ENA | $2.3M | $2.3M | $6.0K | 591 | |
| XRP | $2.3M | $2.2M | $149.0K | 890 | |
| PUMP | $1.7M | $1.3M | $436.7K | 1,462 | |
| SOL | $1.6M | $1.6M | $14.1K | 725 | |
| WLD | $1.2M | $1.2M | $305 | 777 | |
| XPL | $1.1M | $1.1M | $53 | 542 | |
| UNI | $1.1M | $1.1M | — | 997 | |
| SNDK (xyz) | $701.7K | $701.7K | — | 184 | |
| ZRO | $695.6K | $695.6K | — | 293 | |
| PONS | $594.3K | $594.3K | — | 370 |
What the whales are holding
Open positions above $100k notional, by wallet — not an exchange aggregate. Every row can be opened and checked.
216 wallets hold 1,270 positions over $100k: $721.7M long against $2.24B short. Whales lean short — 76% of the notional is on the sell side.
| Market | Long | Short | % | Whales |
|---|---|---|---|---|
| ETH | $146.1M | $584.0M | 59 | |
| BTC | $87.1M | $333.1M | 63 | |
| HYPE | $103.4M | $195.2M | 60 | |
| ZEC | $11.3M | $121.6M | 42 | |
| SOL | $10.3M | $91.9M | 24 | |
| GOLD | $24.1M | $70.4M | 20 | |
| XRP | $3.6M | $70.6M | 19 | |
| SP500 | $38.4M | $21.4M | 14 |
Last 30 days
Daily liquidated notional, longs and shorts stacked.
Key facts
- $1.5K of AR liquidated on Hyperliquid on 2026-09-28 (UTC day).
- 20 liquidation events hit 14 wallets.
- Longs $1.5K vs shorts $0 — longs took the larger share.
- Most-liquidated market: BTC at $30.4M.
- 30-day peak: $39.8K on 2026-09-19.
- Source: Hyperliquid on-chain settled fills, aggregated daily by Compass.
How to read the liquidation heatmap
The map at the top plots price and time against liquidation density. Each horizontal band marks a price level where leveraged positions would be force-closed; the brighter the band, the more notional is at risk there. Bands persist until price trades through them — a band that ends against a candle means those positions were flushed.
Clusters act like magnets. A dense band above or below the current price is forced buying or selling waiting to happen: when price reaches it, liquidations execute at market and push price further in the same direction. The right-hand profile sums this up — how much would be liquidated on a move up (shorts) or down (longs) from the current price.
The threshold slider clips the colour scale at a percentile: at 0.85 everything above the 85th percentile of density burns at full brightness, which makes the big clusters stand out. Candles and the daily totals below the map are settled on-chain data; the heat bands are currently a model estimate built from price and volume at typical leverage tiers (100×, 50×, 25×, 10×, 5×) — the same approach other heatmaps use. Unlike them, Hyperliquid settles everything on-chain, so the next step here is replacing the estimate with actual liquidation prices of real wallets.
How to read the daily numbers
A liquidation happens when a leveraged position can no longer cover its margin and the exchange closes it at market. The number above is the notional value of positions force-closed in the last complete day — not trader losses, which are smaller and depend on entry price.
Longs and shorts tell opposite stories. Longs get liquidated when price falls; shorts when it rises. A day dominated by short liquidations usually means a sharp rally caught bearish positioning offside — and the forced buying pushes price further up, which is why these events cluster.
Why Hyperliquid numbers differ from centralised exchanges. On a CEX, liquidation data is whatever the venue chooses to publish, and most heatmaps you find elsewhere are estimates reconstructed from order books. Hyperliquid settles every fill on-chain, so these totals are counted from settled trades rather than modelled. The trade-off: this covers Hyperliquid only, not the whole market.
New to perpetuals? Start with what Hyperliquid is and how on-chain perps work.
Looking for who is trading these moves? See the Hyperliquid leaderboard for the traders behind the volume, or markets for per-coin activity.
FAQ
How much was liquidated on Hyperliquid in the last 24 hours?
$1.5K of AR liquidated on Hyperliquid on 2026-09-28 (UTC day). 20 liquidation events hit 14 wallets.
What is a liquidation heatmap?
A chart that overlays price with the levels where leveraged positions get force-closed. Bright bands are clusters of liquidation liquidity: price is often drawn toward them, because crossing a cluster triggers forced market orders that fuel the move. Traders use the map to spot likely squeeze targets and stop-hunt zones before they happen.
Is the heatmap real data or an estimate?
The candles and every daily total on this page are settled on-chain fills. The heat bands are currently an estimate modelled from price and volume at typical leverage tiers — the same method used elsewhere. Because Hyperliquid settles on-chain, we are replacing that model with the actual liquidation prices of real tracked wallets, which no order-book estimate can provide.
What does it mean when shorts are liquidated?
Short positions are force-closed when price rises against them. Closing a short means buying back, so a wave of short liquidations adds buying pressure and can accelerate a rally — a short squeeze. The reverse is true for longs.
Is this real data or an estimate?
Real. Every Hyperliquid trade settles on-chain, so these totals come from settled fills flagged as liquidations. Most liquidation heatmaps published elsewhere are estimates modelled from centralised-exchange order books.
Does this cover the whole crypto market?
No — Hyperliquid only. Cross-exchange totals published elsewhere include Binance, Bybit and others, so they are much larger. The advantage here is that the underlying data is verifiable rather than self-reported.
How often is it updated?
The aggregate is rebuilt daily from the on-chain fill stream. The page shows the latest complete day; the timestamp under the headline says exactly which.
Can I use these numbers in an article?
Yes. Please cite Compass and link to this page — the ready-made citation line is in the Key facts block above.