Futures liquidations

Brighter bands hold more leveraged positions to be liquidated if price reaches them; white line is price

Each bar = TOTAL estimated liquidations wiped out if price travels from here to that level (accumulated along the way). Left green = longs on a drop, right red = shorts on a pump

Each bar aggregates 30 min; green = longs wiped (price drop), red = shorts wiped (price pump)

Every liquidation order as it streams in over WebSocket, newest first

Exchanges with incomplete window coverage are marked (partial)

Longs burn when price drops; shorts burn when price pumps

Big OPEN positions sitting close to their liquidation price on the transparent-position DEXs: Lighter (liq price straight from the API) and GMX (computed with GMX’s official liquidation formula, error ≲ 0.3%). Distance = (mark − liq) / mark in the direction of the trade; ≤ 0 means price already crossed the level but the venue has not liquidated yet. Smaller = more at risk of a cascade.