$203 of leveraged ETC positions were liquidated on Hyperliquid over the latest complete day — 7 liquidation events, 0% of everything liquidated that day. Most of it was shorts being force-closed, which points to a move up catching leveraged positions on the wrong side. Every number here comes from on-chain settled fills — not an estimate reconstructed from exchange order books.
ETC liquidations — the last 30 days
Over the last 30 days, $13.1K in ETC positions was liquidated on Hyperliquid across 12 days with liquidations — about $1.1K per day. The heaviest day was 2026-09-10, with $9.5K force-closed — roughly 9× a typical day. The latest complete day came in below that average.
Longs absorbed 92% of the 30-day damage: most ETC liquidations came on moves down.
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 | $156.3M | $1.4M | $154.9M | 13,779 | |
| ETH | $27.8M | $124.8K | $27.6M | 2,606 | |
| XRP | $4.8M | $105.2K | $4.7M | 1,151 | |
| CL | $3.0M | $3.0M | — | 566 | |
| SOL | $2.9M | $333 | $2.9M | 1,276 | |
| SP500 | $2.7M | — | $2.7M | 316 | |
| BRENTOIL | $2.5M | $2.5M | — | 451 | |
| NEAR | $1.8M | $1.3M | $503.9K | 1,019 | |
| ZEC | $1.8M | $506.5K | $1.3M | 434 | |
| SUI | $1.3M | $23.7K | $1.3M | 482 | |
| XYZ100 | $1.1M | — | $1.1M | 216 | |
| SPCX | $1.0M | $407.8K | $622.7K | 266 | |
| CRCL | $956.1K | $934 | $955.2K | 244 | |
| AVAX | $842.8K | $360.3K | $482.4K | 313 | |
| VVV | $779.2K | $377 | $778.8K | 372 | |
| INTC | $684.1K | — | $684.1K | 236 | |
| SOXL | $597.6K | — | $597.6K | 158 | |
| HYPE | $542.3K | $12.9K | $529.4K | 334 | |
| FARTCOIN | $423.6K | $5.4K | $418.2K | 318 | |
| ENA | $344.2K | $320.0K | $24.2K | 236 |
What the whales are holding
Open positions above $100k notional, by wallet — not an exchange aggregate. Every row can be opened and checked.
230 wallets hold 1,378 positions over $100k: $677.0M long against $3.01B short. Whales lean short — 82% of the notional is on the sell side.
| Market | Long | Short | % | Whales |
|---|---|---|---|---|
| ETH | $146.6M | $793.3M | 55 | |
| BTC | $57.6M | $674.8M | 68 | |
| HYPE | $123.6M | $199.4M | 52 | |
| SOL | $9.6M | $179.5M | 30 | |
| ZEC | $17.9M | $144.2M | 37 | |
| GOLD | $10.0M | $93.4M | 25 | |
| XRP | $537.0K | $93.2M | 22 | |
| SP500 | $73.5M | $9.7M | 20 |
Last 30 days
Daily liquidated notional, longs and shorts stacked.
Key facts
- $203 of ETC liquidated on Hyperliquid on 2026-09-21 (UTC day).
- 7 liquidation events hit 4 wallets.
- Longs $0 vs shorts $203 — shorts took the larger share.
- Most-liquidated market: BTC at $156.3M.
- 30-day peak: $9.5K on 2026-09-10.
- 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?
$203 of ETC liquidated on Hyperliquid on 2026-09-21 (UTC day). 7 liquidation events hit 4 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.