Where INIT positions on Hyperliquid get liquidated, from the real positions of tracked wallets rather than a leverage model. Bars show the value liquidated at each price: longs below the current price, shorts above it. Lines show the running total from the price outwards. Coverage says how much of the market the tracked wallets hold.
38 open INIT positions in 38 tracked Hyperliquid wallets: $14K long and $93K short (13.3% long). That is 20.1% of INIT's $267K open interest on Hyperliquid; 69.9% of it was checked in the last 15 minutes. Within 10% of the 0.09019 mark price, $0 of longs would be liquidated on the way down and $0 of shorts on the way up.
38 positions · 38 wallets20.1% of INIT OI coveredTracker coverage of Hyperliquid OI: 43.9%As of 20:45 UTC
Coverage of INIT OItracked
20.1%
$107K tracked · $267K OI69.9% checked ≤ 15 min
Long liquidationswithin −10%
$0
Short liquidationswithin +10%
$0
Tracked positions38 wallets
38
$14K long · $93K short13.3% long
Tracker coverageall HL perps
43.9%
37.8% fresh6,720 holders of 48,031 wallets
INIT liquidation map · ±25%
Longs liquidated (price falls)Shorts liquidated (price rises)Cumulative from the price outwards (right axis)
Each bar is 0.0004509 wide. Outside the range: $0 of longs and $39.42M of shorts. 11 positions ($14K) have no liquidation price.
Tier A is the 300 wallets with the largest positions; B the next ones; C everyone else. Hyperliquid's API rate limit decides how often the smaller tiers can be checked, so their actual cycle can be longer than the target. Coverage is tracked value ÷ (2 × Hyperliquid open interest); 37.8% was checked in the last 15 minutes. Wallets not checked for 48 hours are left out of this page.
How to read it. A tall bar is a price where a lot of tracked INIT positions would be liquidated. Liquidations are forced market orders, so a big cluster close to the price can speed up a move once it is reached. The map only shows wallets this site tracks (20.1% of INIT open interest), so the real totals are larger. Positions from wallets not checked for 48 hours are left out. Not financial advice.
INIT Hyperliquid liquidation map FAQ
How is this INIT liquidation map made?
From real positions, not a model. Hyperliquid is an on-chain exchange, so every account's open positions and their liquidation prices are public. This site tracks the wallets that trade on Hyperliquid, reads their positions from Hyperliquid's public API and records them. The map adds up, per price level, the value of every tracked position whose liquidation price sits there: longs below the current price, shorts above it.
How much of the market does it cover?
Not all of it. Hyperliquid limits how often its API can be called, so the tracker checks the 300 wallets with the biggest positions every minute and the others every few hours. Coverage is the tracked long and short value divided by twice the open interest (every long has a matching short). The largest positions are the ones that move the market, and they are the best covered. Right now the INIT map covers 20.1% of INIT's open interest on Hyperliquid. Across all Hyperliquid perps the tracker currently sees 43.9% of open interest (37.8% checked in the last 15 minutes).
How fresh is the data?
The biggest wallets are re-checked every minute, smaller ones less often; the table shows when each position was last checked. Wallets not checked for 48 hours are left out. A position whose liquidation price the market has already passed since its last check is counted separately, not drawn. The page refreshes the positions every minute.
Why can a cross-margin liquidation price move?
An isolated position has its own margin, so its liquidation price only moves when the trader adds or removes margin. A cross-margin position shares the account's whole balance: profit or loss on the account's other positions, deposits and withdrawals all move its liquidation price. The map uses the liquidation price Hyperliquid reported at the last check. Positions with no liquidation price (an account with enough collateral that it can't be liquidated) are left off the chart.
How is this different from an estimated liquidation map?
Most liquidation maps guess: they take open interest and spread it over typical leverage levels. On Hyperliquid the positions themselves are visible, so this map shows where tracked positions will actually be liquidated, at the cost of covering only part of the market. Nothing here is financial advice.