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 LIT liquidation levels around the current price of $2.24, 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.
LIT is the token of Lighter, one of the new wave of high-performance perp DEXes — and like most young exchange tokens, its own derivative market is still in price discovery. Open interest history is short, flow is bursty, and the heatmap reflects a market whose leverage culture is forming in real time rather than one with settled habits.
Early-stage markets like LIT reward the heatmap's window controls: shorter windows capture the fast-moving current structure, while longer views show how zone-building has evolved since listing. Expect asymmetry — new DEX tokens attract launch-cycle longs first, so early maps typically carry more inventory below price than above.
Only since the token's futures listing — the display automatically crops to the period where open-interest data exists, so shorter windows are the most fully populated.
They carry wider uncertainty: less history means less calibration data specific to this market. The model leans on cross-market calibration until LIT accumulates its own track record.
Exchange tokens often lead their platform's news cycle — listings, incentives, volume milestones — and leveraged traders position around that. The map shows where that positioning becomes forced flow.