Estimated liquidation levels across exchanges, built from open-interest changes, price action and taker flow on our own data — brighter cells mark price zones where more leveraged positions would be liquidated. These are model estimates (leverage cohorts at 10x/25x/50x/100x), not exchange-published figures; dollar values are estimated notional at risk, anchored to open interest. Updates every minute.
The heatmap maps estimated ETH liquidation levels around the current price of $1,879.36, built from open-interest changes and price action across exchanges and anchored to open interest. Cluster sizes are model estimates — upper bounds, not exchange-published figures.
Ethereum runs the second-largest perpetual futures market in crypto, and its liquidation landscape behaves differently from Bitcoin's. ETH open interest is split across a wider set of venues and strategies — directional leverage, ETH/BTC rotation trades and basis positions all leave inventory at different price bands. The heatmap above estimates where that leveraged inventory would be forced to close, using open-interest changes, price action and taker flow from our own data.
In practice, the brightest ETH bands tend to sit within a few percent of spot, where high-leverage perp traders concentrate, with thinner cohorts stretching toward round numbers further out. Watch how bands thicken after a period of one-sided funding: crowded longs stack liquidation levels below price, and a dip into that zone often accelerates as those positions unwind.
The levels are model estimates, not exchange-published figures. They are built from measured open-interest changes, price action and taker flow, and the leverage mix is continuously self-checked against realized liquidations and real Hyperliquid whale positions. Treat bands as zones of elevated risk rather than exact trigger prices.
Brighter cells mark price zones where more leveraged ETH positions would be liquidated if price reached them. The brightness scales with the estimated dollar value of positions at risk, anchored to open interest.
Yes — use the exchange selector to switch from the aggregated view to a per-exchange heatmap built from that venue's own open interest and volume.
Every minute. Each refresh re-estimates the full price-time grid from the latest candles, so new clusters appear as fresh leverage enters the market.