$7.1K of leveraged USELESS positions were liquidated on Hyperliquid over the latest complete day — 43 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.
USELESS liquidations — the last 30 days
Over the last 30 days, $295.7K in USELESS positions was liquidated on Hyperliquid across 9 days with liquidations — about $32.9K per day. The heaviest day was 2026-09-09, with $113.6K force-closed — roughly 3× a typical day. The latest complete day came in below that average.
Longs absorbed 71% of the 30-day damage: most USELESS 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 | $78.6M | $949 | $78.6M | 6,754 | |
| SOL | $5.2M | — | $5.2M | 1,932 | |
| ZEC | $4.0M | $75.2K | $3.9M | 1,249 | |
| ETH | $3.6M | $6.8K | $3.6M | 1,288 | |
| NEAR | $3.4M | $732 | $3.4M | 1,124 | |
| MSTR | $2.4M | — | $2.4M | 368 | |
| HYPE | $2.3M | $11.4K | $2.3M | 1,149 | |
| XMR | $726.0K | $84 | $725.9K | 433 | |
| WLD | $597.5K | $571.3K | $26.2K | 231 | |
| UNI | $548.9K | $25.8K | $523.1K | 752 | |
| XRP | $430.6K | $473 | $430.1K | 346 | |
| ARB | $427.7K | $84.8K | $342.9K | 742 | |
| PUMP | $401.3K | $12 | $401.3K | 289 | |
| kPEPE | $342.9K | — | $342.9K | 146 | |
| UNITREE (xyz) | $289.0K | — | $289.0K | 147 | |
| AMD | $211.9K | — | $211.9K | 47 | |
| NFLX | $208.7K | $208.7K | — | 184 | |
| SOXL | $196.1K | — | $196.1K | 71 | |
| PONS | $176.8K | $1.3K | $175.5K | 221 | |
| JUP | $166.0K | — | $166.0K | 156 |
What the whales are holding
Open positions above $100k notional, by wallet — not an exchange aggregate. Every row can be opened and checked.
64 wallets hold 516 positions over $100k: $560.4M long against $1.87B short. Whales lean short — 77% of the notional is on the sell side.
| Market | Long | Short | % | Whales |
|---|---|---|---|---|
| ETH | $144.5M | $595.3M | 26 | |
| BTC | $117.1M | $446.6M | 25 | |
| HYPE | $75.3M | $152.6M | 26 | |
| SOL | $908.7K | $122.5M | 10 | |
| ZEC | $7.9M | $81.3M | 19 | |
| SP500 | $55.6M | $18.5M | 7 | |
| GOLD | $4.0M | $61.2M | 5 | |
| SILVER | $18.9M | $29.3M | 8 |
Last 30 days
Daily liquidated notional, longs and shorts stacked.
Key facts
- $7.1K of USELESS liquidated on Hyperliquid on 2026-09-18 (UTC day).
- 43 liquidation events hit 31 wallets.
- Longs $0 vs shorts $7.1K — shorts took the larger share.
- Most-liquidated market: BTC at $78.6M.
- 30-day peak: $113.6K on 2026-09-09.
- 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?
$7.1K of USELESS liquidated on Hyperliquid on 2026-09-18 (UTC day). 43 liquidation events hit 31 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.