Liquidations by Exchange
Right-side profile of real liquidation events from the last 24 hours, filterable by venue — Binance, Bybit, Hyperliquid — to spot exchange-led cascades.
Liquidations by Exchange paints real forced-close events from the last 24 hours as a horizontal profile on the right edge of the chart — every price level shows how much notional was liquidated there, with the option to filter the feed down to a single venue. It is the per-venue companion to the aggregated read: where Aggregated Liquidations sums the flow into a time-series sub-pane, this indicator slices the same flow by price level and lets you ask "which exchange is doing the damage at this level?" A liquidation is a forced exit when a leveraged position runs out of margin — bunched on one venue, it often points to venue-specific positioning rather than a market-wide event.
Settings reference
The panel is intentionally small — the indicator's job is to show real events, not to model anything. Pick which venues feed the profile and that's it.
| Section | Setting | Default | Notes |
|---|---|---|---|
| LIQ · Overlay | Right profile | (fixed) | The indicator overlays the chart's price axis on the right. The profile and the candles share the same Y scale, so a row lines up with the exact price it fired at. |
| Live · 24 h events | (fixed) | The feed is the live tape, rolling over the trailing 24 hours. Older events drop off as new ones print. | |
| Venues | All exchanges (aggregated) | On | Wildcard — sums every tracked venue into a single profile. The per-venue checkboxes lock while this is on. |
| Binance Futures | Off | Tick on to include this venue. Multi-select — turn several on and the profile stacks them by venue colour. | |
| Bybit Futures | Off | ||
| Hyperliquid | Off |
Notes on how the selection behaves:
- Empty selection silently falls back to the wildcard — the chart never paints an empty profile.
- Turning All exchanges (aggregated) off without ticking any specific venue snaps the selection to the first listed exchange, so you always see data.
- The hint line in the panel — "Real liquidation events. Depth mode available in dialog widget." — points you at the standalone Liquidation Heatmap if you want the estimated stop-cluster overlay; see Liquidation Heatmap for that read.
How to read it
The whole point of the per-venue view is to separate broad-market liquidation flow from venue-specific events. The four patterns to watch for:
- One venue dominates a row, others empty — venue-specific squeeze. Often reverts once the local positioning resets, because the rest of the market wasn't actually positioned that way. Worth checking Open Interest on the affected venue: if OI dropped sharply at the same time, the squeeze is done.
- All venues participating evenly on the same row — broad-market cascade. Continuation is more likely because every venue's traders got hit; nobody is left to defend the level.
- Quiet profile, then a sudden tall row on one venue only — exchange-specific event. Listings, delistings, margin-rule changes, contract specification tweaks all leave this fingerprint. Cross-check the venue's announcements page before reading it as a trade signal.
- Heavy row that aligns with a negative Funding print on the same venue — the funding side that was paying for the position got flushed. Typical capitulation tell; pair with a price-action confirmation before fading.
Regional patterns also show up in the per-venue split — during Asia hours, some venues carry more of the cascade simply because that's where their book is busiest. The split lets you see whose traders are getting hit, not just that liquidations are happening.
Common pitfalls
- Filtering down to only the venue you trade on — even if you only execute on one exchange, the liquidation profile from the others is information about who else is positioned where. A row that looks empty on your venue but heavy on another is a cluster you still need to know about, because price will trade through it.
- Reading the profile as if it lives forever — the window rolls over the trailing 24 hours. A row that was tall this morning will look smaller this afternoon as older events age out. Treat the profile as a live read; don't pin a thesis to where a row was yesterday.
- Treating thin Hyperliquid rows as proof "nothing happened" — venue mix matters. A given symbol can carry most of its open interest on one venue and almost none on another, so the profile is denser on the busy side by construction. Compare a venue's row height to its own activity earlier in the session, not to a different venue at the same price.
- Confusing this with the Liquidation Heatmap — Liquidation Heatmap shows estimated stop / liquidation clusters that haven't fired yet (where positions are sitting). Liquidations by Exchange shows real events that have already fired. Same vocabulary, different time direction. See Liquidation Heatmap for the where-stops-sit view.
- Stacking the per-venue profile while All-exchanges is also visible — the wildcard already aggregates everything, so turning it on alongside individual venues paints the same data twice. Pick one mode at a time.
What's next
- Liquidation Heatmap — the estimated-cluster companion (where stops sit before they fire).
- Aggregated Liquidations — the time-series view of the same real events, totalled across venues.
- Open Interest — cross-reference OI drops on the affected venue to confirm whether a squeeze actually flushed positioning.
- Funding — pair extreme funding with venue-led liquidation rows to flag capitulation candidates.