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Surveillance · Hyperliquid · data snapshot 2026-08-30 13:46 UTC · auto-refresh every ~2 h · whale snapshots — every 30 min

Hyperliquid whale tracker: the BTC & ETH liquidation heatmap, measured — not guessed

BTC 78,916 · funding +0.0018% · basis +5 · DVOL 37 (below 16% of the year) · fear premium -11.0
ETH 2,479 · funding +0.0038% · basis +1 · DVOL 51 (below 13% of the year) · fear premium -13.7
full volatility state →
🎯 On today’s map: BTC: the largest fuel pocket — $61.9M of shorts at 80,000 (+1% from spot). ETH: the largest fuel pocket — $101.2M of longs at 2,300 (-7% from spot). Over the last 24h whales added $16.1M of BTC fuel. ⚡ set a whale watch

This is a Hyperliquid whale tracker and a crypto liquidation heatmap measured from real whale positions — not modeled from assumptions. We track 249 of the largest whale wallets on Hyperliquid — among them Wintermute, Jump Crypto, Auros Global, Flowdesk and 4 more — and snapshot their positions every 30 minutes. The crypto liquidation map below shows how much whale capital will be force-closed at each distance from the current price. That is cascade fuel: when price reaches a cluster, liquidations push it further.

Our partner Hyperliquid is the largest decentralized (on-chain) perpetual futures exchange — which is exactly why whale positions there can be read straight from the blockchain instead of being modeled. Our link gets you −4% on fees; it does not affect the analysis.

📏 Measured, not guessed. This is not an estimated heatmap of the kind aggregators (Coinglass-style) build by inferring liquidation levels from aggregate open interest and leverage assumptions. Here every price is the actual liquidation price of a specific wallet, read from the chain. Aggregators model a guess — we read a fact. The term, explained — in the glossary → · Full comparison vs Coinglass →
How to read it: each row of the map is a specific price at which the exchange will force-close whale positions, and the amount of capital sitting there. 🔺 Above spot — short liquidations: once price gets there, their forced buy-back feeds the rally. 🔻 Below spot — longs: flushing them accelerates the drop. Clusters close to spot — real fuel for the next move; far-away levels — deeply protected positions (often market makers). Hover over a row for details.
249
whales tracked
141
with open positions
143
whale events in 24 h

BTC · liquidation heatmap — history

each column is a snapshot from our archive, 30 days · brighter = more whale capital liquidating at that price · white line is spot

lessmore measured on-chain, not modelled

BTC

spot 78,887 · above price (shorts) $125.3M · below price (longs) $154.3M · level step 1,000
▲ above spot — whale shorts: price gets there → they are force-closed → fuel for the rally ▼ below spot — longs: fuel for the drop
···
98,000
$30.4M · 2
96,000
$3.8M · 1
···
92,000
$11.9M · 1
91,000
$3.5M · 1
···
86,000
$0.6M · 1
85,000
$1.6M · 1
83,000
$11.6M · 1
80,000
$61.9M · 2 ⚡ largest cluster
— SPOT 78,887 —
78,000
$1.6M · 1
76,000
$19.5M · 2
···
72,000
$1.6M · 1
71,000
$40.7M · 1
69,000
$11.8M · 1
67,000
$2.0M · 1
66,000
$0.5M · 1
65,000
$15.2M · 2
64,000
$39.4M · 1
···
59,000
$5.9M · 1
58,000
$16.1M · 1

ETH · liquidation heatmap — history

each column is a snapshot from our archive, 30 days · brighter = more whale capital liquidating at that price · white line is spot

lessmore measured on-chain, not modelled

ETH

spot 2,474 · above price (shorts) $54.0M · below price (longs) $149.9M · level step 25
▲ above spot — whale shorts: price gets there → they are force-closed → fuel for the rally ▼ below spot — longs: fuel for the drop
3,200
$6.8M · 1
···
3,100
$9.9M · 1
···
3,000
$3.8M · 1
···
2,650
$8.7M · 1
2,625
$24.9M · 1
— SPOT 2,474 —
2,400
$3.8M · 1
2,350
$22.7M · 2
2,300
$101.2M · 2 ⚡ largest cluster
2,250
$1.7M · 2
2,225
$14.8M · 1
2,200
$3.1M · 1
···
2,100
$1.2M · 1
···
1,875
$0.7M · 1
1,850
$0.6M · 1

Flow across the exchange border

7 days · $250k floor · 387 operations above it · as of 30.08 08:30 UTC

$153.53M
brought in · 160 operations
$396.60M
withdrawn · 227 operations
−$243.07M
net over 7 days
Of $396.60M withdrawn, $352.59M — 89% — went to exchanges. USDC: 96% of withdrawals went to exchange deposit addresses. BTC: nothing went to exchanges — all of it to private wallets. Profits leave as stablecoins, headed where people sell. Coins go into storage.
CoinChannelInOutWhere it went
USDCbridge$83.42M$367.89Mexchange $352.21M · known player $10.91M · private $3.07M · unverified $1.70M
BTCUnit$51.31M$16.22Mknown player $15.05M · unverified $1.17M
ETHUnit$7.59M$5.09Mknown player $4.42M · exchange $383k · private $286k
SOLUnit$7.22M$3.70Mknown player $3.70M
ZECUnit$3.99M$3.69Mprivate $3.69M

Inside the exchange, never crossing the border: USDC $1043.21M · HYPE $354.36M · UBTC $153.89M · UETH $51.24M · USOL $21.22M. These are transfers between Hyperliquid accounts — neither inflow nor outflow.

Stablecoins: the Hyperliquid ledger reports only the withdrawal amount, so the recipient comes from the Arbitrum bridge log, matched to the cent. Native coins (BTC, ETH, SOL) enter and leave via Unit, which reports the native-chain address. “Private” means verified and unnamed — provably not an exchange; unverified addresses are never labelled that way. Self-assigned nicknames don't count as names.

The full log of these operations — names, addresses and the withdrawal queue — every evening at 19:00 in the Analyst evening update. Access levels →

Whale action feed

latest BTC & ETH events · positions from $1M · 🏛 institutional class · 🐋 top 30 by volume · click a codename — that whale’s actions · +81 events on other markets

Showing the actions of whale over the last 2 days. Full history and current positions — 💠 whale dossier ✕ show all
timeeventmarketposition sizefragilitycodename · wallet
Aug 30 13:16 UTCopened a positionBTC$11.6Mleverage ×20HEAVY HARPOON 🐋 0x10f1…202f
Aug 30 13:16 UTCadding +21%ETH$2.5Mleverage ×1SHARP CRYOLITE 🐋 0x31de…13f2
Aug 30 13:16 UTCfully exitedBTC$2.3Mleverage ×1COLD COURSER 🐋 0x7b7f…dee2
Aug 30 13:16 UTCtrimmedETH$2.1Mleverage ×10WESTERN COBALT 🐋 0x9546…181c
Aug 30 13:16 UTCopened a positionETH$4.9Mleverage ×20HEAVY HARPOON 🐋 0x10f1…202f
Aug 30 13:16 UTCadding +31%BTC$7.5Mleverage ×10WESTERN COBALT 🐋 0x9546…181c
Aug 30 12:46 UTCadding +20%BTC$6.9Mleverage ×4OUTER COMPASS 🏛 0x023a…2355
Aug 30 12:46 UTCopened a positionETH$2.1Mleverage ×1SHARP CRYOLITE 🐋 0x31de…13f2
Aug 30 12:46 UTCtrimmedBTC$2.3Mleverage ×1COLD COURSER 🐋 0x7b7f…dee2
Aug 30 12:46 UTCadding +50%BTC$20.5Mleverage ×2QUIET STORMGLASS 🏛 0xecb6…2b00
Aug 30 12:46 UTCadding +41%BTC$3.0Mleverage ×1SHARP CRYOLITE 🐋 0x31de…13f2
Aug 30 12:46 UTCopened a positionBTC$5.7Mleverage ×10WESTERN COBALT 🐋 0x9546…181c
Aug 30 12:16 UTCtrimmedBTC$7.9Mleverage ×12REVERSE CALIPER 0x004e…1bb8
Aug 30 12:16 UTCopened a positionBTC$16.0Mleverage ×3DOUBLE TRAWL 0x61ce…a62b
Aug 30 12:16 UTCopened a positionETH$3.1Mleverage ×8WESTERN COBALT 🐋 0x9546…181c
Aug 30 12:16 UTCadding +46%BTC$5.8Mleverage ×4OUTER COMPASS 🏛 0x023a…2355
Aug 30 12:16 UTCopened a positionBTC$2.1Mleverage ×1SHARP CRYOLITE 🐋 0x31de…13f2
Aug 30 12:16 UTCopened a positionBTC$3.8Mleverage ×2COLD COURSER 🐋 0x7b7f…dee2
Aug 30 12:16 UTCadding +267%BTC$13.7Mleverage ×2QUIET STORMGLASS 🏛 0xecb6…2b00
Aug 30 12:16 UTCopened a positionETH$3.0Mleverage ×3DOUBLE TRAWL 0x61ce…a62b
Aug 30 11:16 UTCfully exitedBTC$2.1Mleverage ×1COLD COURSER 🐋 0x7b7f…dee2
Aug 30 08:46 UTCopened a positionBTC$2.0Mleverage ×10QUIET SQUALL 0xae78…4520

The feed shows the last 2 days. Any whale’s full history since tracking began, its current positions and an unrestricted feed — 💠 with a subscription.

History: whales and cascades

these charts thicken on their own — the collectors write around the clock · impossible to reconstruct after the fact

WHALE FUEL OVER TIME · Σ notional with a liquidation price · snapshots every 30 minupdated 30.08 14:15 UTC
drag to zoom · double-click to reset

How to read: the cyan line is capital in shorts (liquidated when price moves UP — it feeds rallies), the red one is longs (flushed by a drop). A rising line → cascade fuel is building up on that side. Hover for exact totals at any moment; the buttons add ETH and overlay the asset price, so you can see how whales reacted to the move.

DAILY LIQUIDATIONS · OKX BTC-USD / ETH-USD · shorts up / longs downupdated 30.08 14:15 UTC
drag to zoom · double-click to reset

How to read: these are real forced closures on two coin-margined OKX swaps — BTC-USD and ETH-USD (a market sample that moves in sync with the cascades, not the whole market; Deribit does not publish such data), not just the 230 whales we track — their personal liquidations show up in the feed below as “liquidated”. Columns pointing up — shorts got squeezed out; down — longs got flushed. Hover for exact per-asset totals for each day.

📡 Whale watch — a private alert the moment your chosen codename moves. How it works →

Position direction (long/short) and the link to Deribit option trails (“two instruments”) — in the daily briefing. All access levels — on the Access page.

📊 Data — from Deribit (options) and Hyperliquid (futures). Both venues are our partners: signing up through our links gets you −10% / −4% off fees; it does not affect the analysis.

Frequently asked questions

How can I track whale activity in crypto derivatives markets?

We map the liquidation levels of large holders on the Hyperliquid perpetuals exchange and overlay the flow of block trades in Deribit options. These are measured positions read from the chain, not modeled guesses, and they update through the day.

What is a liquidation heatmap and how do I read it?

A liquidation heatmap marks the price zones where over-leveraged positions get force-closed. A brighter or larger cluster means more capital — more fuel — parked at that level, and price tends to get pulled toward those clusters once it comes close.

Can a liquidation heatmap predict price?

No. It shows where the fuel sits, not which direction price will go. It is context, not a signal — use it to understand where a move could accelerate, not to be told what happens next.

What is whale fragility?

Fragility is how close a leveraged position sits to its liquidation price, given its leverage and margin. A fragile position gets knocked out by a small move — so clusters of fragile whale capital show where a cascade could start. In the event feed we label each position's leverage precisely as a fragility hint.

Does whale watching give you an edge?

On its own — no, and our own decision journal confirms it. Copying a whale's direction is not a strategy: whales on perpetuals are often hedged elsewhere, structurally short, or simply wrong. The value is context — which structures whales hold in which market regime, and where their forced exits could accelerate a move. We publish wins and losses alike; nothing here promises profit.

Is there a Binance liquidation heatmap here?

No — and that is a methodology choice, not a gap. Binance positions are not public, so any Binance liquidation heatmap is a model estimate built from aggregated open interest. Our map covers Hyperliquid, where whale positions live on-chain: every level is a real wallet's exact liquidation price. If you want the whole market estimated, use an aggregator; if you want one venue measured, that is this page.

Does this cover the BTCUSDT liquidation heatmap?

The map tracks BTC and ETH whale positions on Hyperliquid perpetuals — the same exposure a BTCUSDT chart shows, measured per wallet instead of estimated per exchange. Levels are recomputed from fresh on-chain snapshots every 30 minutes.

Addresses are public blockchain data, without personal labels. The system’s surveillance journal, not investment advice. Liquidation levels shift with wallet margin. © 2026 INDICIA DESK.

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