Archive node vs full node: what historical state means
The difference between an archive node and a full node, which RPC calls need historical state, how log ranges work, and what HyperEVM supports.
Guides that explain the data and the tools, every term in one sentence and every metric with its exact method. What our data showed on a given day is on the blog.
The difference between an archive node and a full node, which RPC calls need historical state, how log ranges work, and what HyperEVM supports.
What auto-deleveraging is, when Hyperliquid uses it after book and backstop liquidations fail, how it ranks profitable positions and what that means.
Why cross-chain bridges are hacked so often: forged messages, captured validators, stolen keys and central control, with verified cases and sources.
How to pull crypto liquidation history, hourly totals and liquidation levels from the Blockmetric API, with the endpoints, parameters and limits.
Why liquidation clusters are called price magnets, why that is not a law, why bands fade before price arrives, and how a hit rate measures it.
What exchange inflows and outflows measure, how a transfer is matched to an exchange wallet, what net flow means and what it cannot tell you.
Funding rate vs basis: what each one measures, how a perpetual's premium feeds its funding, how dated futures basis differs, and how to read both together.
How crypto hacks and exploits happen: contract bugs, price oracles, governance, stolen keys, supply-chain attacks and manipulation, with verified cases.
What triggers a liquidation on a perpetual future, how the exchange closes the position, what partial and backstop liquidations are, and what is lost.
How a perpetual funding rate is calculated: the premium from impact prices, the interest part, the clamp, the cap and the hourly payment, with an example.
Hyperliquid explained: the HyperBFT chain, HyperCore order books and clearinghouse, the HyperEVM, oracle and mark prices, and why every position is public.
How leverage works in crypto perpetual futures: margin and notional, why one move liquidates a 20x position but not a 5x one, and what it leaves alone.
How to read CVD: what cumulative volume delta adds up, how to compare it with price, why perp and spot CVD differ, and where trade-stream data stops.
Track any Hyperliquid wallet step by step: find the address, read its positions and liquidation prices, follow its moves and get alerts, without keys.
How Hyperliquid trading fees work (volume tiers, maker rebates, staking discounts, HIP-3) and how the Assistance Fund turns fees into HYPE that is burned.
How Hyperliquid HIP-3 lets builders deploy their own perp markets: stake, auctions, fees, oracles, settlement, slashing, margin and onchain backstop.
What the Hyperliquid HLP vault does, how the liquidator vault takes over positions, and how user vaults share profits, lock deposits and treat withdrawals.
Isolated vs cross margin on perpetual futures: what backs each position, how the liquidation price and the possible loss differ, with a worked example.
What a liquidation cascade is, why forced orders push in the direction of the move, what slows a cascade down, and how to see one in liquidation data.
The liquidation price formula for perpetual futures, its inputs in isolated and cross margin, and worked long, short and cross examples you can recompute.
What maintenance margin is, how Hyperliquid sets it from maximum leverage, how margin tiers and the deduction work for large positions, with examples.
Mark, oracle, index and last price compared: how Hyperliquid builds each one and which one drives funding, liquidations, trigger orders and PnL.
What a negative funding rate means: shorts pay longs. Why the baseline is positive, how extreme rates arise, and what funding does not say about the price.
How liquidations differ on an on-chain perp DEX like Hyperliquid and on centralised exchanges, what each publishes, and why exchange totals undercount.
Perpetual futures vs dated futures: expiry versus funding, how each stays close to spot, how they settle, and what the difference means for market data.
How short squeezes and long squeezes work in crypto derivatives: the role of liquidations, stop orders and funding, and how each squeeze shows in the data.
How USDC, USDT and DAI mints and burns appear on-chain, how to tell them from bridge moves and plain transfers, and what a supply change does not mean.
What an RPC node is, how JSON-RPC requests over HTTPS and WebSocket work, which read methods apps use most, and why most apps use an RPC provider.
Robinhood Chain explained: an Arbitrum-based Ethereum layer 2 for tokenized stocks and ETFs. Chain ID, gas, public RPC terms, bridges, USDG and Lighter.
What the bands of a liquidation heatmap mean, how long and short clusters differ, how price meets them and where the data stops, with a BTC example.
Why perpetual futures pay funding, how hourly and 8-hour funding compare, how to annualise a rate, and how funding arbitrage works, with its costs.
What open interest and the long/short ratio measure, why the ratio by wallets and by USD can disagree, and what neither says about direction, with BTC.
What every number on Blockmetric means, how it is computed, where it falls short and how to read it, with a live chart from the current data.
Liquidation heatmap (real positions)
USD of tracked Hyperliquid positions that would be liquidated at each price level, over time.
Liquidation clusters
Price levels where an unusually large amount of tracked positions would be liquidated at once.
Cluster hit rate (scoreboard)
Share of recorded big liquidation clusters that the price actually reached within 4, 24 or 72 hours.
Liquidations (reported totals)
USD of positions force-closed per hour, venue and coin: every Hyperliquid liquidation, plus what Binance, Bybit and Lighter publish.
Auto-deleveraging (ADL)
When a venue cuts profitable positions on one side to cover liquidations on the other side, and how Blockmetric spots it.
Open interest
Total USD value of open perpetual positions on a venue, sampled every 30–60 seconds.
Funding rate
The periodic payment between longs and shorts of a perpetual, shown annualised (APR).
Predicted funding
The rate a venue will charge at its next funding time, from Hyperliquid’s predictedFundings.
Funding spread
Highest minus lowest annualised funding of the same coin across venues.
Premium / basis
How far a perpetual’s mark price trades above or below the index (oracle) price of the same coin.
Mark price
The price a venue uses to value open perpetual positions; liquidations and unrealised PnL are measured against it.
Whale stops and take-profits
Open trigger orders (stop-loss, stop-entry, take-profit) of the largest tracked Hyperliquid wallets, by price.
Smart money
Hyperliquid wallets that lead the leaderboard by all-time PnL, 30-day PnL or all-time ROI, and how they are positioned now.
Wallet cohorts
Long/short positioning of tracked wallets grouped by account size (shrimp … whale) or by all-time profit.
HLP (Hyperliquidity Provider vault)
Hyperliquid’s protocol vault: it makes markets, performs liquidations and accrues part of the fees. Its account value and PnL, read every 15 minutes.
Hyperliquid vaults
Pooled accounts on Hyperliquid that a leader trades for depositors, with TVL, APR and PnL as Hyperliquid reports them.
Methodology · Facts from public data. Not investment advice.