Question 1

What is a liquidation?

Accepted Answer

A forced closing of a leveraged position: when the collateral is no longer enough, the exchange sells the long or buys back the short at market. The larger the order, the harder it pushes the price while it fills.

Question 2

How is a long liquidation different from a short liquidation?

Accepted Answer

Longs are liquidated when the price falls, shorts when it rises. A one-sided skew shows who the market is squeezing harder; a chain of liquidations in one direction often pushes the move further, which is called a cascade.

Question 3

Where does the data on this page come from?

Accepted Answer

The large-liquidation feed is our own stream from Binance, Bybit and OKX. The totals, chart and tables by exchange and coin come from Coinalyze, which covers Binance, Bybit, OKX and HTX for the coins with the highest open interest. Coinalyze has no liquidation data for Gate and HyperLiquid, so the totals are a lower estimate, not the whole market.

Question 4

Why do the totals differ from Coinglass and other sites?

Accepted Answer

Every service covers its own set of exchanges and coins. Here it is four exchanges and the top coins by open interest, and Binance sends at most one order per second per instrument into its liquidation stream, so our numbers can be lower than on services with a different scope.

Question 5

How do I get alerts about large liquidations?

Accepted Answer

Add the Liquidation condition in the builder: a threshold from $25K and a side — longs, shorts or both. The alert reaches Telegram right after the order.