Crypto Liquidation Fairness Index 2026: Which Exchanges Liquidate Traders Most Fairly?

Crypto exchanges do not merely observe liquidations.
They design them.

The exchange chooses:
the mark price
the index constituents
the maintenance margin
the liquidation threshold
the amount of the position to close
the bankruptcy-price logic
the liquidation fee
the insurance waterfall
and:
who bears the final loss if everything else fails.

Those choices can produce very different outcomes for traders even when the underlying market move is identical.

How fair are crypto exchange liquidations? The DN Liquidation Fairness Index compares mark prices, index construction, maintenance margin, partial liquidation, insurance funds, ADL and liquidation fees across major futures exchanges.

Check the complete review on: decentralised.news

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