Data & methodology

How the data is collected, computed and stored, and what it cannot show.

Method

Principles

Only public data sources; every source can be switched off, and switched-off sources disappear from every page and API response.
Nothing is invented: a value without data is shown as missing, never as 0.
Real data only: no models, no simulations, no assumed inputs. Where data does not exist (positions on centralised exchanges), it is not shown rather than estimated.
Stored data is not corrected afterwards; reports are snapshots of what was stored at the time.
Facts, no advice: no buy or sell language, no forecasts.

Liquidation heatmap

Every open Hyperliquid position reports its own liquidationPx. We sum the USD of tracked positions per price bucket (a round step near 0.5% of the mark, within ±50%) and store that ladder as a snapshot every 5 minutes; for the top 20 coins by open interest a finer ladder (0.1% buckets within ±10%) every minute. Longs liquidate below the price, shorts above it: a position whose stored liquidation price is already on the wrong side (read before the price moved) is left out.

Each column shows the levels at its start: the first snapshot inside it, never a sum of several (the same position is in every snapshot); the running column shows the newest snapshot. 1m columns of the top coins use the fine ladder; 5m columns use it once it covers the whole window (it is kept 30 days), before that the 0.5% one. A 5m column without a snapshot of its own shows the one stored just before it (at most 10 minutes older, marked in the tooltip). Candles show the price (1m: Hyperliquid trades).

1D columns use a daily snapshot of every open Hyperliquid position (taken shortly after 00:00 UTC, the same 0.5% buckets) for every day it covers; only the days it does not cover yet (normally today) come from the tracked positions. Daily columns therefore show more USD than the live ones, and the 1D price axis spans the whole range the price moved through.

Every value is measured, nothing is computed between snapshots. Our live collection runs since 2026-11-03 14:15 UTC. Before that an intraday column shows the daily snapshot of every open Hyperliquid position (taken shortly after 00:00 UTC, at most 24 hours older), marked by a thin line along the top and named with its time in the tooltip. After it, a column without a live snapshot (for example during an update) shows the same daily snapshot until the next live column. Columns without a stored snapshot stay empty (hatched). Since when each layer is stored: Historical data.

Wallets in a band. Click a cell to list the tracked wallets whose liquidation price is in that band now: size, side, leverage, liquidation price and its distance from the price, each linked to its wallet page. Hovering a live column shows how many tracked wallets sit there now. The list always comes from the newest poll of each tracked wallet (minutes old), never from a daily column, and only covers the wallets we track.
Open interest added at this price (optional layer under Chart settings). For the exchanges whose positions are not public (Binance, Bybit), we store their published open interest and their price every minute. For every 5 minutes we take the change in open interest, count it in contracts (so a price move alone adds nothing), value it at that 5 minutes' price and add it to the band that price was in. It does not show leverage, liquidation prices or who bought (every new contract has a long and a short side), and openings and closings within the same 5 minutes cancel out. The 5-minute history is kept 35 days; a gap in our collection stays a gap.
Replay (Desk) plays the columns of the window one by one with play, pause and speed. Each frame is a column of the chart (a stored snapshot, or the daily snapshot it falls back to); nothing is interpolated between them.
Hit rates. The panel under the chart takes the big clusters of the liquidation map now (the 3 largest buckets of at least $5M within ±15% of the price, the scoreboard's rule) and shows how often past clusters of the coin on the same side and at a similar distance were reached within 4, 24 and 72 hours. With fewer than 10 such clusters of the coin, the same side and distance over every coin is used (marked); with fewer than 30 scored clusters a rate is marked as a small sample.
Liquidation map next to the heatmap: the newest snapshot as a profile, bars per price level and lines adding up what a move from the price to each level would liquidate (longs on the way down, shorts on the way up).
Other venues. No modelled layer: positions on exchanges without public positions are not shown rather than estimated. Lighter publishes every account's positions with the liquidation price it computes itself; Lighter RH the same way; dYdX and GMX positions are read in full from the chain every 5 minutes and their liquidation prices are computed by us (method). All DEX adds the layers of every venue with positions in the coin for each column; the coverage chips show how much of each venue's open interest the tracked positions explain.

Sources and cadence

What the collector reads, and how often (switched-on sources only):

Hyperliquid markets (mark, funding, open interest): every 30 seconds.
Hyperliquid positions of tracked wallets: scheduled every 2.5 minutes for $10M+ wallets, 10 minutes for $1M+, 60 minutes for $100k+ (default configuration; every position carries its own poll time).
Hyperliquid liquidations: every wallet’s liquidation fills from Hyperliquid’s official archive, imported hour by hour (an hour is published about 1–2 hours after its end); for the newest hours, a vanished tracked position near its liquidation price is checked against the wallet’s fills within minutes, and only fill-confirmed liquidations are published.
Exchange markets (funding, open interest): every 60 seconds.
Exchange liquidation streams and trades: real time over WebSockets.
Liquidation heatmap snapshots: every 5 minutes (top 20 coins: every minute, finer price buckets); cluster observations every 15 minutes; long/short ratios every 5 minutes.

Hyperliquid, Public archive of the Hyperliquid node state, Lighter, Lighter RH, dYdX, GMX, Binance, Bybit, Exchange proof-of-reserves, Public EVM RPCs (publicnode + fallback), Chainlink price feeds (on-chain), Protocol registry (official docs), mempool.space (Bitcoin), U.S. SEC, CFTC, FBI and DOJ releases, OFAC SDN list (U.S. Treasury), and FBI / IC3 public service announcements · Data sources

Storage and history

Market history: 5-minute buckets for 35 days, then hourly values of funding and open interest, kept without a time limit.
Liquidations: every single order 120 days, orders of $10,000 or more 3 years; hourly sums per coin and side kept without a time limit (the totals come from them).
Heatmap snapshots: 1-minute layer 30 days, 5-minute snapshots 14 days, then hourly up to 400 days and every 4 hours up to 3 years; the 1D view adds one daily snapshot of all Hyperliquid positions.
History depth on the site and API is what is stored: our own collection since launch plus public history loaded once (dates on the historical data page), never more than the plan allows.

Currencies: USDT and USDC to USD

Binance and Bybit report the notionals of their USDT-margined contracts in USDT, not in US dollars. Liquidations, open interest and 24h volume from these exchanges are stored as reported (in USDT) and converted to USD at the Chainlink USDT / USD price that is fresh at that moment; the rate used is stored with every value.
Without a fresh Chainlink price (feed older than its heartbeat plus one hour, or the source switched off) the USD value stays empty and is shown as unavailable. USDT is never assumed to be exactly 1 USD.
Order flow (trades, tape, footprint, book walls) is converted the same way: USDT on Binance and Bybit, USDC on Hyperliquid at the Chainlink USDC / USD price. While no fresh price is available, these values stay in the exchange’s quote currency, and the gap is counted in the flow metrics.
Hyperliquid positions, liquidations and open interest are reported in USDC and shown as USD. Values stored before this conversion was introduced (October 2026) keep the exchange’s figure.

Blockmetric Sentiment

Our own 0–100 index of the market's mood, shown under Markets › Sentiment and in the API (GET /api/v1/sentiment). It is computed only from data we collect: no social media, no search trends and no third-party index.

The seven inputs and their fixed weights:

Price momentum, 25 %. BTC price against its 50-day average.
Volatility, 15 %. BTC realised volatility of the last 30 days; high volatility counts as fear.
Funding, 20 %. Average funding of BTC and ETH perpetuals on Binance and Bybit over the last 24 hours.
Open interest, 15 %. BTC open interest on Binance and Bybit, counted in coins, change over 7 days.
Long/short ratio, 10 %. Binance BTC long/short account ratio, average of the last 24 hours.
Liquidations, 10 %. Shorts minus longs liquidated in the last 24 hours, as a share of all liquidated USD (Hyperliquid, Binance, Bybit).
Whale positioning, 5 %. Long share of the positions of tracked Hyperliquid whales (accounts of $10M or more), average of the last 24 hours.

How they are combined:

Each input is ranked against its own daily values of the previous 365 days: its percentile (0–100) is its score. Volatility is inverted, so a calm market scores high and a turbulent one low.
The index is the weighted average of the input scores. An input counts once it has at least 21 earlier daily values. Without enough history, without data for the period or with a switched-off source it is left out, and the weights of the others are scaled up so they add to 100 %. Below 50 % of the total weight there is no value at all; gaps are never filled with guesses.
The daily value is fixed at 00:00 UTC (the close of the day before). The current value is recomputed every 15 minutes by the same rules against the same history.
History since 2025-10-15, computed from stored data only. Inputs with a shorter history (open interest, long/short, then liquidations and whale positioning from our own collection) join when they reach 21 days and are marked in the breakdown while they have fewer than 90.
Labels: 0–24 extreme fear, 25–44 fear, 45–55 neutral, 56–75 greed, 76–100 extreme greed.
It describes positioning and price behaviour. It is not a forecast and not a trading signal.

Corrections

If a value is wrong because of a bug, the fix applies to new data and the changelog says so; stored history is not silently rewritten.

Report incorrect data → · Changelog →

Cluster scoreboard

Share of recorded big liquidation clusters that the price actually reached within 4, 24 or 72 hours. Cluster scoreboard →

Data sources

Where the numbers on Blockmetric come from: 16 of 19 sources are switched on. Every data panel names its sources in a small “Source:” line, with Blockmetric Research first where the value is our own work; API responses list the upstream sources in meta.sources.

Blockmetric Research

own

Used for: Our own work on the data below: we compute, aggregate and curate everything we show from it (liquidation heatmap and totals, cluster scoreboard, Blockmetric Sentiment, whale tracking and labels, flows, the hack and incident database, listed wallets, detectors and reports), following the published methodology.
Status: Always on: it is our processing of the sources below
Attribution: Named first in the “Source:” line of a value we computed or curated, followed by the upstream sources it is built from
Terms: The terms of each upstream source still apply to the data it comes from.

Hyperliquid

Used for: Markets, funding, open interest, positions of tracked wallets, whales, liquidation heatmap, trades, liquidation confirmation (fills of tracked wallets), every wallet’s liquidations from Hyperliquid’s official node archive (hour by hour), price candles of coins not listed elsewhere. The daily snapshot of every open position behind the 1D heatmap is read from a public archive of the Hyperliquid node state (its own entry below).
Status: On: data is collected and shown
Attribution: Data: Hyperliquid L1
Terms: Public data, used under the source’s published terms.

Public archive of the Hyperliquid node state

Used for: A daily snapshot of every open Hyperliquid perpetual position (size, notional, liquidation price; one block shortly after 00:00 UTC, from 29 Jul 2025): the 1D liquidation heatmap, the long / short of all positions per coin and day, and the discovery of large wallets that our tracker then follows through the Hyperliquid API. Positions of the file are never stored or shown per wallet.
Status: On: data is collected and shown
Attribution: Analysis: Blockmetric Research
Terms: Used with the provider’s permission.

Lighter

Used for: Funding, open interest, mark prices, liquidations (trades flagged as liquidations by the exchange; older ones and hourly open interest from its official archive), positions of tracked accounts with the liquidation price the exchange reports, liquidation heatmap, whales and the PnL leaderboard.
Status: On: data is collected and shown
Attribution: Data: Lighter
Terms: Public data, used under the source’s published terms.

Lighter RH

Used for: Positions of tracked accounts on the Lighter instance for Robinhood Chain (USDG collateral) with the liquidation price the exchange reports, mark price and open interest per market, liquidation heatmap. Markets are mapped onto coins we already list; markets without such a coin are skipped.
Status: On: data is collected and shown
Attribution: Data: Lighter RH
Terms: Public data, used under the source’s published terms.

dYdX

Used for: Open perpetual positions of every dYdX v4 subaccount (full scan of the chain state), oracle prices and open interest; the liquidation price of each position is computed by us from the protocol margin rules; liquidation heatmap.
Status: On: data is collected and shown
Attribution: Data: dYdX Chain
Terms: Public data, used under the source’s published terms.

GMX

Used for: Open positions of GMX v2 on Arbitrum and Avalanche (the complete on-chain position list), oracle prices and open interest per market; the liquidation price of each position is computed by us every round from the contract state; liquidation heatmap.
Status: On: data is collected and shown
Attribution: Data: GMX (on-chain)
Terms: Public data, used under the source’s published terms.

Binance

Used for: Funding, open interest, liquidation orders (USDⓈ-M), long/short ratios, price candles, trades and order books for order flow (spot trades of BTC and ETH for spot CVD).
Status: On: data is collected and shown
Attribution: Source: Binance
Terms: Used under the source’s published terms, with attribution.

Bybit

Used for: Funding, open interest, liquidation orders (linear), long/short ratio, trades and order books for order flow.
Status: On: data is collected and shown
Attribution: Source: Bybit
Terms: Used under the source’s published terms, with attribution.

OKX

off

Used for: Funding, open interest, liquidation orders, long/short ratio.
Status: Off: not requested, stored data is not shown
Attribution: Source: OKX
Terms: Shown only with the source’s written consent.

DefiLlama

off

Used for: Hack list, protocol TVL (TVL drops), stablecoin prices (depegs), exchange wallet lists from DefiLlama-Adapters.
Status: Off: not requested, stored data is not shown
Attribution: Data: DefiLlama
Terms: Shown only with the source’s written consent.

Exchange proof-of-reserves

Used for: Exchange wallet addresses for the outflow detector, from the exchanges’ own proof-of-reserves lists (currently Binance).
Status: On: data is collected and shown
Attribution: Addresses: Binance proof of reserves
Terms: Used under the source’s published terms, with attribution.

Public EVM RPCs (publicnode + fallback)

Used for: Ethereum balances of the listed exchange wallets; on-chain movements on Ethereum, Arbitrum and Base: large ERC-20 transfers of a curated token list, native ETH transfers, stablecoin mints / burns, large swaps on the biggest Uniswap v3 / Aerodrome pools. On our transaction and wallet pages, read when a visitor opens one: the transaction, its receipt and the head block (status, fee, gas, token transfers), and an address’s ETH and curated-token balances and sent count (budgeted, cached 2 min, never for crawlers).
Status: On: data is collected and shown
Attribution: Data: Ethereum (on-chain)
Terms: Used under the source’s published terms, with attribution.

Chainlink price feeds (on-chain)

Used for: Stablecoin/USD answers (USDC, USDT, DAI, USDe, PYUSD, FDUSD, USDS, USDG) and the WBTC / BTC ratio for the depeg detector, read with latestRoundData from the feed contracts on Ethereum, Arbitrum and Base. The USDT / USD answer also converts the USDT figures of Binance and Bybit (liquidations, open interest, volume) into USD.
Status: On: data is collected and shown
Attribution: Data: Chainlink feeds (on-chain)
Terms: Used under the source’s published terms, with attribution.

Protocol registry (official docs)

Used for: Self-curated list of large bridge and lending contracts, each address taken from the protocol’s own documentation (source URL per address); their balances feed the protocol-outflow detector.
Status: On: data is collected and shown
Attribution: Addresses: protocol docs · Data: on-chain
Terms: Public data, used under the source’s published terms.

mempool.space (Bitcoin)

Used for: Bitcoin on-chain movements: new blocks (raw block, 1 call per block) and the inputs of large transactions (/tx, up to 25 per block). On our transaction and wallet pages, read when a visitor opens one: the transaction (inputs, outputs, fee, size, status) and an address’s totals (budgeted, cached 2 min, never for crawlers).
Status: On: data is collected and shown
Attribution: Data: Bitcoin (on-chain, via mempool.space)
Terms: Public data, used under the source’s published terms.

Robinhood Chain (on-chain, provider RPC)

off

Used for: On-chain movements on Robinhood Chain: large transfers and mints / burns of USDG (Global Dollar) and large WETH transfers, read from the chain logs. On our transaction and wallet pages, read when a visitor opens one: the transaction, its receipt and the head block, and an address’s ETH, USDG and WETH balances (budgeted, cached 2 min, never for crawlers).
Status: Off: not requested, stored data is not shown
Attribution: Data: Robinhood Chain (on-chain)
Terms: Used under the source’s published terms, with attribution.

U.S. SEC, CFTC, FBI and DOJ releases

Used for: Official announcements on /news: crypto-related SEC press releases, CFTC general and enforcement releases, FBI cyber alerts and DOJ press releases, shown in our own words with the source label and a link. Releases about a theft or hack are also reviewed for the hack database.
Status: On: data is collected and shown
Attribution: Source: U.S. SEC · U.S. CFTC · FBI · U.S. DOJ
Terms: Used under the source’s terms, with the attribution shown next to the data.

OFAC SDN list (U.S. Treasury)

Used for: Listed wallets: every digital currency address on the Specially Designated Nationals list, re-read daily; an address the list no longer contains is delisted automatically. Only the address, the entry number and the sanctions program are stored, never a name.
Status: On: data is collected and shown
Attribution: Source: OFAC SDN list
Terms: Public data, used under the source’s published terms.

FBI / IC3 public service announcements

Used for: Listed wallets: addresses that an FBI public service announcement lists (reviewed one by one, e.g. PSA I-022625-PSA on the Bybit theft), with the announcement’s own wording.
Status: On: data is collected and shown
Attribution: Source: FBI (IC3)
Terms: Public data, used under the source’s published terms.

Lighter (perp DEX)

Markets, funding (paid hourly, shown as hourly rate and APR) and open interest (one side, open interest × mark; Hyperliquid's own open interest counts long plus short) of every active Lighter perpetual.
Liquidations: every trade Lighter flags as a liquidation on its public trade stream of each market, with the side of the liquidated account. Auto-deleveraging trades are not counted as liquidations.
Positions and the Lighter heatmap layer: public positions of tracked accounts with the liquidation price Lighter reports for each of them, never a modelled price. Accounts are found through Lighter's public leaderboard and large trades; the largest are followed live, the others read in rotation.
All DEX (coin heatmap): the real layers of every DEX venue added per column (Hyperliquid, Lighter and the venues below), each with its coverage. Venues without public positions are not shown rather than estimated.
Tracked now: 2,984 accounts with open positions (8,741 known), 15,318 positions, $1.1B of notional, 96% of Lighter open interest.

dYdX, GMX and Lighter RH (heatmap venues)

These venues add real open positions to the liquidation heatmap (their own layer and All DEX). They have no markets, funding or liquidation columns of their own here. Each one is a source with its own switch.
dYdX v4: every subaccount of the dYdX Chain is read every 5 minutes from its public REST nodes (a full scan, so a closed, liquidated or deleveraged position leaves the map with the next scan). The liquidation price is computed, not reported: equity = USDC + each position at the oracle price + unsettled funding; maintenance requirement = notional × initial margin fraction × maintenance fraction of the market's liquidity tier; the price p' of one position where equity equals the requirement, with every other oracle price held constant (the convention of cross-margin liquidation prices). Isolated positions (child subaccounts) are exact. Our equity matched dYdX's own indexer to 6 decimals on recorded subaccounts.
GMX v2 on Arbitrum and Avalanche: the complete on-chain position list is read every 5 minutes through public RPCs. The liquidation price is computed by us every round, because fees and price impact drift: the contract evaluates each position's remaining collateral (collateral + profit and loss − pending borrowing and funding fees − closing fee − price impact of a full close) at the current oracle price and at a price 5% towards liquidation; the price where it reaches the minimum (the larger of the minimum collateral and size × the market's minimum collateral factor) follows exactly from these two values. Other token prices are held constant; collateral of the same asset moves with the price. A sample is checked on chain every round: liquidatable just past our price, not just before it. Open interest counts long plus short (a pool venue), so coverage is tracked notional / open interest.
Lighter RH (Lighter's instance for Robinhood Chain, USDG collateral): tracked accounts from the public leaderboard, read in rotation, with the liquidation price Lighter reports. Only markets of coins we already list are included; equity and index markets join the same coins as on Lighter and keep their last mark outside trading hours.
dYdX and GMX positions are placed against the oracle price, the price their liquidations use. Coins are matched by symbol and checked against our reference price (within 10%); a market whose coin we do not list is skipped.
dYdX now: 2,260 accounts, 15,209 positions, $105M of notional, 100% of dYdX open interest.
GMX now: 2,166 accounts, 3,748 positions, $52.3M of notional, 100% of GMX open interest (long plus short).
Lighter RH now: 1,073 accounts, 4,816 positions, $314M of notional, 83% of Lighter RH open interest.

How sources are handled

A source that is off is not requested at all. Data stored while it was on is left out of every page, total, chart, alert and API response.
Totals across venues contain only sources that are on: an aggregate is only as free as its least free input.
Positions, whale data and the liquidation heatmap are our own calculation from public Hyperliquid on-chain state and public Lighter account state; the heatmap adds the public positions of dYdX, GMX and Lighter RH (method above).
Naming a source is attribution only. Blockmetric is not affiliated with, endorsed by or a partner of any source listed here.
Sources not listed on this page are not used.
Independent · no trading, no exchange affiliation, no commission on trades (about).

Questions about a source or a correction: contact. Freshness of each data feed: status.

Data quality

What Blockmetric covers right now, how fresh it is, and where the gaps are. Every number on this page is read from the database at request time.

wallets known

59,716

wallets polled: 59,387

wallets with open positions

16,035

open positions tracked

80,129

coins with tracked positions: 299

notional of tracked positions

$14B

liquidations stored · 24h

65,237

$435M

Exchanges we collect

Exchanges we collect
Exchange	collected since	markets per exchange
Hyperliquid	2025-05-25 15:00 UTC	347
Lighter	2026-11-02 15:14 UTC	218
Binance	2026-11-02 15:14 UTC	409
Bybit	2026-11-02 15:15 UTC	417

History depth

What we store per dataset and since when, our own collection apart from the public history loaded once: Historical data. How often clusters get hit: Cluster scoreboard.

Freshness per data feed

All live feeds current

Feeds: 19 live · 19 current
Delayed: None
Down: None
Newest update: 2026-11-05 10:04 UTC

Known gaps and limits

Only wallets the collector tracks: Hyperliquid positions of untracked wallets are missing from the heatmap (except the daily snapshot of the 1D view), whale and cohort data.
Exchange liquidation streams undercount (Binance at most one order per symbol and second, Bybit top 100 symbols).
Hyperliquid liquidations of the newest hours, before the official archive covers them, count only tracked wallets whose own fills carry the liquidation marker; a position that vanished without such a fill is not counted, and partial liquidations of a still-open position are counted once the archive hour is imported.
Gaps while the collector was stopped are not filled in afterwards, except Hyperliquid liquidations (the official archive covers every hour) and price candles (reloaded from the venue).
Exchange notionals reported in USDT (Binance, Bybit) are converted to USD at the fresh Chainlink USDT / USD price; without a fresh price the USD value is shown as unavailable. Order flow falls back to the quote currency then. Hyperliquid positions, liquidations and open interest are in USDC and shown as USD. On-chain stablecoin values use the fresh Chainlink price.
Switched off (not collected, not shown): OKX, DefiLlama, and Robinhood Chain (on-chain, provider RPC).

Data as of 2026-11-05 10:04 UTC. Facts from public data. Not investment advice.