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โ LIVELive forced liquidations across Binance, OKX and Bybit perpetual futures. When a leveraged position can no longer cover its margin, the exchange closes it at market. Large clusters of liquidations often mark local tops and bottoms.
How liquidations work
What is a liquidation?
Traders on futures markets borrow to open positions larger than their deposit. If the price moves against them far enough, their margin no longer covers the loss and the exchange force-closes the position. That forced order hits the market like any other trade, which can push price further in the same direction.
Why do long and short liquidations matter?
A wave of long liquidations means leveraged buyers are being wiped out, which adds selling pressure. A wave of short liquidations adds buying pressure. Big one-sided waves often mark the end of a move rather than the start, because the leverage has already been flushed out.
Where does this data come from?
We listen to the public liquidation streams of Binance Futures, OKX and Bybit around the clock and aggregate them. Amounts are converted to US dollars using each exchange's contract specification.