Conclusion first: In this past hour, liquidation totaled 2.43 million USDT. Binance had the highest number of trades, but each trade was the lightest among several major exchanges. Retail traders with small positions were more densely represented.
Binance liquidated 1.286 million USDT with 701 trades; average per trade: 1,835 USDT. OKX liquidated 678,000 USDT with 234 trades; average per trade: 2,896 USDT. Binance’s total amount is close to double OKX’s, and the number of trades is triple. The difference isn’t about which exchange is worse—it’s about position size.
Bybit surged to 285,000 USDT with 211 trades; average per trade: 1,353 USDT. Hyperliquid surged to 125,000 USDT with 32 trades; average per trade: 391 USDT. The amounts aren’t large, but all of them are shorts.
Are you more afraid of getting liquidated when a big order gets cleared, or of a chain reaction liquidation with small positions?
View in real time: https://www.coinboss.com/liquidations