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BTC Long/Short Ratio (Hyperliquid)

How BTC 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.

60.2% of the 1,371 tracked Hyperliquid BTC positions are long (long/short ratio 1.52). By value, longs hold 50.4% ($1.33B long vs $1.30B short). Positions of $1.00M or more are 49.3% long by value.

22,654 positions in 3,909 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 18:08 UTC

Accounts long1,371 tracked
60.2% long
Ratio 1.52826 long · 545 short
Value longby size
50.4% long
Ratio 1.02$1.33B$1.30B
Whales long$1.00M+ positions
49.3% long
171 long · 135 short
Coverage of BTC OItracked
41.1%
$2.63B tracked · $3.20B OI88.0% checked ≤ 15 min

BTC long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 60.2%1.52
Hyperliquid (tracked)position value 50.4%1.02
Binanceaccounts 55.6%1.25
Bybitaccounts 56.6%1.30
Binance top tradersposition value 65.4%1.89

By position size

tracked BTC positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K8961 59.3%$313K$185K 62.9%
$10K–$100K224133 62.7%$9.91M$6.67M 59.8%
$100K–$1M342216 61.3%$136.93M$85.96M 61.4%
$1M and up171135 55.9%$1.18B$1.21B 49.3%

Largest tracked BTC positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x5b5d…c060 Short $239.13M 75,949.4 -$24.31M 139,768.2 +65.32% 5× cross just now
0xb83d…6e36 Short $148.09M 74,443.4 -$17.69M 152,019.3 +79.81% 5× cross just now
0x5cee…a723 Long $98.87M 83,822.9 $842K 80,198.6 -5.14% 40× cross just now
0x6046…b21d Long $84.77M 81,832.7 $2.72M 77,173.2 -8.72% 12× cross just now
0x15a4…dfdb Long $84.54M 62,353.6 $22.19M 53,503.5 -36.71% 40× cross just now
0x8ea8…edbc Long $84.54M 72,771.2 $11.77M 50,029.3 -40.82% 3× cross just now
0xb695…a92d Short $67.13M 78,724.8 -$4.62M 119,793.7 +41.70% 20× cross just now
0x218a…7da2 Short $50.51M 77,038.2 -$4.48M 95,166.2 +12.57% 8× isolated just now
0xd158…9dab Long $49.37M 84,865.3 -$188K 83,287.5 -1.49% 35× cross just now
0xcfe2…8fb3 Long $42.27M 78,639.3 $2.95M 40,493.4 -52.10% 10× cross just now
0x7fda…17d1 Short $40.10M 84,468.3 -$35K 163,070.2 +92.88% 30× cross just now
0x45d2…4029 Short $36.78M 76,982.7 -$3.29M 158,441.5 +87.41% 20× cross just now
0x3ff5…f705 Short $34.13M 83,920.3 -$251K 99,749.1 +17.99% 13× cross just now
0x020c…5872 Long $31.03M 84,109.7 $159K 70,016.8 -17.18% 40× cross just now
0xb798…4fbf Short $29.32M 85,920.1 $478K 113,246.8 +33.95% 3× isolated just now
0xa2ce…3126 Long $25.40M 70,766.9 $4.14M 35,859.2 -57.58% 20× cross just now
0x519c…6a47 Short $25.36M 79,675 -$1.46M 157,859.8 +86.72% 20× cross just now
0xc3ed…00dd Short $25.36M 83,658.3 -$265K 85,676 +1.34% 40× isolated just now
0xe77c…15db Long $25.36M 84,373.2 $51K 77,103.8 -8.80% 40× cross just now
0xec4a…cf62 Long $23.88M 84,009.2 $151K 55,540.8 -34.30% 40× cross just now

Tracker coverage and freshness

all Hyperliquid perps · 41.9% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.39B60 s60 s
B3,0003,000$2.71B15 min34 min
C44,390624$10.15M4 h16 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); 36.3% 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 BTC 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.

BTC Hyperliquid long/short ratio FAQ

How is the Hyperliquid BTC 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 BTC open interest does this cover?

The tracked BTC positions add up to 41.1% of BTC'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.