Liquidations
The Liquidations page is a pressure instrument: who is being flushed, how hard, right now. It has one state — watching. No tabs, no filters, no timeframe toggles.
Confirmed (lower bound)
Hyperliquid does not publish a liquidation feed, so most liquidation trackers estimate — leverage assumptions dressed up as data. Our detector takes the opposite trade:
- Large taker prints on the live trade stream become candidates.
- Each candidate's account fills are checked against Hyperliquid's own fill records, biggest first, at a deliberate pace that never crowds the venue's rate limits.
- Only fills carrying HL's own liquidation marker are ingested. Nothing is inferred.
The result is 100% precision, partial recall: every row is a real liquidation, but not every liquidation becomes a row. Every count on the page therefore carries the label confirmed (lower bound) — the numbers are floors, never estimates.
The four reads
Pressure Line
One line of truth across the top: the market's cascade state (CALM → ELEVATED → ⚡ CASCADE on {COIN}), 24h confirmed notional with a diverging long/short bar, the biggest single liquidation of the day, and how fresh the detector is. The cascade state is computed per coin from a rolling window of confirmed flow, with thresholds calibrated from our own archive's percentile distribution — recalibrated as the archive deepens, never guessed.
The Tape
Confirmed prints, newest first: time, coin, the liquidated side, notional, price. Rows over $1M carry a persistent glow. Rows flagged ⚑ backstop were absorbed by the HLP vault — the liquidation engine handed the position to the backstop rather than the book. No public feed distinguishes these; our detector sees them directly.
Pressure Ladder
Every coin with confirmed flow in the last 24h, ranked by the last hour. Each row: a diverging 1h long/short bar (all rows share one scale, so magnitudes compare), the 1h total, a 24h sparkline of hourly flow, a cascade dot when that coin's state machine is elevated or open, and a violet ✦ when the coin legs one of the day's eligible pairs. Tap a row to open that coin's cockpit.
✦ Pairs Impact
The reason this page exists inside a pairs terminal. When a liquidation burst in the last 4h touched a leg of an eligible pair, a cell appears: which pair, which leg, when, how much was flushed and on which side — plus the pair's live z-score right now, on the same locked daily recipe the pairs page uses. A forced flush on one leg is exactly the kind of dislocation pair statistics are built to price. It sits as the third column of the board, to the right of the ladder: one-line cells in straight columns (each cell links to the pair), ordered by severity — cascades first, then flush size, then recency — with the overflow scrolling below the fold.
Rows here are event-earned. An empty strip is a reading, not a bug: no eligible pair legs were disturbed.
When the detector is offline
Stale never looks live. The updated-ago readout stays quiet while heartbeats are fresh, turns amber when they lag, and past that the page shows "detector offline — showing archive": all motion stops, panels dim, nothing pulses. A calm market with a live heartbeat looks calm; a dead pipe looks dead — the page never lets you confuse the two.