LINK Liquidations

A liquidation is when an exchange force-closes a leveraged futures position because the trader's remaining margin can no longer cover the losses. It happens when price moves far enough against the position to reach its liquidation price; the higher the leverage, the smaller the move needed.

A long liquidation closes a position that was betting on a price rise, so it usually happens when price falls; a short liquidation closes a position betting on a fall, so it usually happens when price rises. On this page long liquidations are green and short liquidations are red.

Each liquidation is valued in US dollars as its filled quantity multiplied by the price the exchange reports for it. Exchanges report different prices: Binance gives the average fill price, Bitget the bankruptcy price, Bybit the bankruptcy price, dYdX the fill price, Gate the order price, Kraken the fill price and Lighter the fill price. Totals add up these values over the selected period.

No. It covers the liquidation orders FMchart records from the public liquidation streams of Binance, Bitget, Bybit, dYdX, Gate, Kraken, Lighter and other exchanges, for coins in the FMchart universe, not every exchange or every order. Exchanges also limit what their streams publish (Binance pushes at most one order per symbol per second, and Bitget at most the largest order per symbol and side each second), so the totals describe the orders recorded rather than the entire market. Hyperliquid appears on the estimated pages (Liquidation Map, Heatmap and Levels) through its open interest, but its liquidation orders are not collected yet. Totals also include liquidations from other exchanges that FMchart collects but does not show individually.

FMchart currently covers USDT- and USDC-margined perpetual futures on Binance, Bitget, Bybit, dYdX, Gate, Kraken, Lighter and other exchanges. Coins are limited to the FMchart composite universe; contracts that cannot be matched to a coin or converted to US dollars are left out. Data collection started on 14 October 2026 (UTC). Totals also include liquidations from other exchanges that FMchart collects but does not show individually.

The totals, charts and exchange table refresh about every 30 seconds while the page is visible; the time of the last update is shown next to the range selector. Exchanges publish liquidations with a delay of roughly 5 to 20 seconds, so the newest orders can take that long to appear. This is recorded data, not a live feed. Some of the other exchanges included in the totals are collected less often, up to about every 5 minutes, so totals for the most recent minutes can still rise slightly after they first appear.

Liquidation volume is the total US-dollar value of liquidated positions; liquidation events are the number of liquidation orders recorded. One large order can outweigh hundreds of small ones in volume, and because each exchange reports orders differently, event counts are less comparable across exchanges than volume.

Both charts use the same time intervals. Long vs Short draws two separate lines, long liquidations in green and short liquidations in red, so you can see which side was being cleared at each moment. Liquidation Volume stacks the two sides in one bar per interval, so the bar height is the total liquidated value. The range in the page header (1 hour to 1 month, or All for every day since collection began) sets how much history is shown and the interval (5m to 1d) how much time each point covers; combinations that would give too few or too many points are disabled. To look at any period inside the range, drag the edges of the bar under Long vs Short (or zoom with Ctrl + scroll or a pinch); both charts follow, and the note under the bar shows the dates and totals of the selected period. Hover or use the arrow keys to read exact values.

The page shows one coin at a time: choose it in the asset bar at the top of the page (More Assets lists every covered coin). All USDT- and USDC-margined perpetual pairs of that coin on the covered exchanges are added together, and a coin FMchart does not cover shows a message instead of another coin's data. To compare many coins over time, use the Recorded Liquidations Heatmap page.

Sharp price moves push many leveraged positions past their liquidation prices at once, and the forced closing orders can add to the move, so spikes and fast markets often appear together. Liquidations are only one factor, though: this data does not show cause and effect, covers Binance, Bitget, Bybit, dYdX, Gate, Kraken, Lighter and other exchanges only, starts on 14 October 2026 and depends on what each exchange publishes. It is market information, not investment advice.