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PAXG Long/Short Ratio (Hyperliquid)

How PAXG 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.

49.5% of the 196 tracked Hyperliquid PAXG positions are long (long/short ratio 0.98). By value, longs hold 46.7% ($8.17M long vs $9.31M short). Positions of $1.00M or more are 38.6% long by value.

47,379 positions in 10,773 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 05:37 UTC

Accounts long196 tracked
49.5% long
Ratio 0.9897 long · 99 short
Value longby size
46.7% long
Ratio 0.88$8.17M$9.31M
Whales long$1.00M+ positions
38.6% long
1 long · 1 short
Coverage of PAXG OItracked
39.6%
$17.48M tracked · $22.06M OI75.3% checked ≤ 15 min

PAXG long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 49.5%0.98
Hyperliquid (tracked)position value 46.7%0.88
Binanceaccounts 72.4%2.62
Bybitaccounts 66.0%1.94
Binance top tradersposition value 73.5%2.78

By position size

tracked PAXG positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K5559 48.2%$143K$121K 54.3%
$10K–$100K2825 52.8%$820K$635K 56.3%
$100K–$1M1314 48.1%$5.80M$6.32M 47.9%
$1M and up11 50.0%$1.41M$2.24M 38.6%

Largest tracked PAXG positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x781e…96b7 Short $2.24M 4,372.5 $98K 10,846 +158.91% 10× cross 1 min ago
0x2edd…8179 Long $1.41M 4,312 -$41K — — 10× cross just now
0x645b…87b8 Short $987K 4,176.2 -$3,040 96,354.5 +2200.12% 10× cross just now
0x07fd…689d Long $897K 4,503.3 -$67K — — 5× cross just now
0xacb6…efbd Short $870K 4,279.8 $19K 41,699.8 +895.44% 10× cross 1 min ago
0x51f6…2b39 Long $832K 4,407.7 -$43K — — 10× cross just now
0x9751…a97e Short $792K 4,002.2 -$35K 22,907.1 +446.83% 2× cross 26 min ago
0xfc66…ca06 Long $706K 4,091.7 $16K — — 5× cross just now
0xc2b1…760b Short $628K 4,023.2 -$25K 7,945.3 +89.67% 10× cross 16 min ago
0x5698…a3e0 Short $584K 4,478.5 $40K 4,997.2 +19.29% 7× cross 21 min ago
0x2a27…5ff7 Long $563K 4,853 -$89K 3,198.3 -23.65% 3× cross 17 min ago
0x7a6d…f79c Short $508K 4,377.1 $23K 20,677.1 +393.59% 10× cross just now
0xfc07…9464 Long $492K 4,260.3 -$8,356 — — 2× cross 15 min ago
0xf517…c032 Long $489K 4,280.3 -$11K — — 10× cross 1 min ago
0xecb6…2b00 Short $416K 4,259 $6,939 454,000.4 +10737.66% 5× cross just now
0x89b2…9ca6 Long $408K 4,291.8 -$10K 3,906.3 -6.75% 10× cross 1 min ago
0xdf95…7d72 Short $403K 4,349.5 $15K 269,429.1 +6331.67% 10× cross just now
0x24fb…ed0f Long $386K 4,309.2 -$11K — — 5× cross 9 min ago
0x0fae…4c8c Long $335K 4,384.9 -$16K 2,970.4 -29.09% 10× cross 11 min ago
0x47f5…b942 Short $297K 4,602.8 $29K 34,446.6 +722.29% 10× cross just now

Tracker coverage and freshness

all Hyperliquid perps · 45.3% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.20B60 s60 s
B3,0003,000$2.95B15 min29 min
C46,5067,466$368.04M4 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); 38.4% 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 PAXG 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.

PAXG Hyperliquid long/short ratio FAQ

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

The tracked PAXG positions add up to 39.6% of PAXG'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.