Crypto Liquidation Tracker
Monitor real-time liquidation events across major exchanges. Track forced closures, identify cascade risks, and see which side is getting liquidated.
Understanding Liquidation Cascades
Liquidations occur when a trader’s margin can no longer sustain their position, forcing the exchange to close it at market price. Large liquidation cascades can amplify price moves — as positions are forcibly closed, the resulting market orders push prices further, triggering more liquidations in a feedback loop.
This tracker monitors forced closures across Binance, Bybit, and OKX in near real-time (30-second refresh). Use the summary cards to gauge recent liquidation pressure and the event table to see individual forced closures by symbol, side, and size.
How liquidations work in perpetual futures
A liquidation occurs when a trader's margin balance falls below the maintenance margin requirement. At 50x leverage, a 2% adverse move wipes out the position. Exchanges forcibly close the trade to prevent the account from going negative -- and that forced selling (or buying) adds fuel to the price move that caused it.
This creates cascade risk. When BTC drops 3% and $200M in longs get liquidated, those forced sells push the price down further, triggering more liquidations. In March 2024, $1.3B was liquidated in 24 hours during a single cascade event. The open interest screener shows where leverage is building up, while long/short ratios reveal which side is more crowded and vulnerable.
Smart traders use liquidation data as a contrarian signal. Heavy long liquidations near support often mark local bottoms -- the weak hands have been flushed. Conversely, short liquidations at resistance can signal the start of a squeeze. Pair this data with funding rates to confirm positioning before entering a trade.