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2Z Long/Short Ratio (Hyperliquid)

How 2Z traders on Hyperliquid are positioned: tracked accounts long vs short, position value long vs short, the split by position size and the largest positions, from real on-chain positions. Compare it with the Binance and Bybit ratios below.

63.0% of the 100 tracked Hyperliquid 2Z positions are long (long/short ratio 1.70). By value, longs hold 54.9% ($1.81M long vs $1.49M short).

41,658 positions in 8,864 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 22:24 UTC

Accounts long100 tracked
63.0% long
Ratio 1.7063 long · 37 short
Value longby size
54.9% long
Ratio 1.22$1.81M$1.49M
Whales long$1.00M+ positions
—
0 long · 0 short
Coverage of 2Z OItracked
37.7%
$3.30M tracked · $4.37M OI74.7% checked ≤ 15 min

2Z long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 63.0%1.70
Hyperliquid (tracked)position value 54.9%1.22
Binanceaccounts 57.9%1.38
Bybitaccounts 61.2%1.57
Binance top tradersposition value 56.2%1.28

By position size

tracked 2Z positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K3924 61.9%$48K$42K 53.2%
$10K–$100K228 73.3%$788K$330K 70.4%
$100K–$1M25 28.6%$977K$1.11M 46.7%
$1M and up00—$0$0—

Largest tracked 2Z positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0xe639…2953 Long $857K 0.06756 -$597 — — 3× cross just now
0x1856…08ae Short $412K 0.06920 $10K 0.2061 +205.22% 3× cross 9 min ago
0x7717…bd7e Short $299K 0.06576 -$7,736 1.125 +1565.90% 3× cross 1 min ago
0xecb6…2b00 Short $178K 0.06823 $1,898 15.169 +22369.83% 3× cross 1 min ago
0x641e…b6c8 Short $121K 0.06681 -$1,246 0.4660 +590.28% 3× cross 11 min ago
0x563b…7dc4 Long $120K 0.06175 $10K — — 3× cross 23 min ago
0x45d2…4029 Short $103K 0.6238 $849K 18.405 +27163.74% 3× cross 1 min ago
0x768e…6101 Long $75K 0.07132 -$4,234 0.05571 -17.47% 3× cross 83 min ago
0x5740…a9da Long $68K 0.05186 $16K — — 3× cross 18 min ago
0xb40d…75d9 Long $68K 0.07184 -$4,331 — — 3× cross just now
0x1884…e034 Long $66K 0.06868 -$1,153 — — 3× cross 18 min ago
0xa38f…dccf Short $62K 0.06938 $1,727 0.9768 +1346.90% 3× cross 7 min ago
0x2c68…356f Long $56K 0.06799 -$402 0.05514 -18.33% 3× cross 71 min ago
0x8fb5…eaa4 Short $55K 0.06988 $1,923 0.9652 +1329.72% 3× cross 17 min ago
0x9b34…fd3c Short $54K 0.07273 $4,208 0.1241 +83.81% 1× isolated 16 min ago
0x4f67…5b79 Short $53K 0.06788 $290 0.2544 +276.90% 3× cross 6 min ago
0x203f…6b74 Short $49K 0.06848 $706 0.2044 +202.77% 3× cross 4 min ago
0x91f5…df13 Long $48K 0.06037 $5,098 — — 3× cross 17 min ago
0x6692…bce1 Long $43K 0.05586 $7,371 — — 2× cross 13 min ago
0xe86d…6273 Long $43K 0.06729 $138 0.05383 -20.26% 3× isolated 13 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.3% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.33B60 s60 s
B3,0003,000$2.99B15 min29 min
C45,0075,556$327.09M4 h15 h

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); 37.7% was checked in the last 15 minutes. Wallets not checked for 48 hours are left out of this page.

How to read it. The accounts figure counts each tracked account with an open 2Z position once; the value figure weighs positions by size. Binance and Bybit publish their own ratios for all their users; the Hyperliquid figures here are computed from the public positions of the wallets this site tracks. Not financial advice.

2Z Hyperliquid long/short ratio FAQ

How is the Hyperliquid 2Z long/short ratio calculated?

From the real open positions of the Hyperliquid wallets this site tracks. The accounts ratio counts every account with an open position once: the number of accounts long divided by the number short. The value ratio weighs positions by size at the mark price, so a few large traders can outweigh many small ones.

How is it different from the Binance or Bybit long/short ratio?

Binance and Bybit publish their own ratios; you have to trust their numbers. Hyperliquid is an on-chain exchange, so its positions are public and this ratio is computed directly from them. It covers the wallets this site tracks, not every account, so it is a large sample rather than the full market.

How much of 2Z open interest does this cover?

The tracked 2Z positions add up to 37.7% of 2Z's open interest on Hyperliquid (tracked long plus short value divided by twice the open interest, since every long has a matching short).

How often does it update?

The positions are reloaded every 2 minutes. The 300 largest wallets are re-checked every minute, smaller ones every few hours, and wallets not checked for 48 hours are left out.

Is a high long/short ratio bullish?

Not on its own. Crowded positioning can unwind sharply: a market where most accounts are long can fall fast if those longs are forced to sell. Compare the accounts ratio with the value ratio to see whether the crowd and the large traders agree. This is market data, not financial advice.