Every leveraged position has a breaking point: a price where the exchange force-closes it. The liquidation heatmap maps those breaking points across the whole market, in real time, so you can see where pressure is building before it releases.
Each layer is an independent toggle in the chart's LAYERS row. The Field, modeled Levels, Profile and Observed layers form the universal display. On a matching underlying, Liq Levels HL adds covered real Hyperliquid positions without silently mixing them into the model.
The projection. We read the price and volume tape candle by candle. Each burst of activity is a cohort of leveraged positions opening near that price. We project it forward to where it breaks at every common leverage tier (25× to 100×) using the liquidation geometry, weight it by how anomalous the flow was, and accumulate it into the field over time. Standing fuel ages: a zone nobody refreshes slowly dims toward the dark toe, while a zone that keeps attracting size stays bright. Because it is computed purely from price action, the field renders on every symbol and every timeframe, and it reproduces identically in replay, bar for bar, with nothing baked or stored.
The modeled Levels. Open interest, positioning and the entry-price trail condense the field into fewer rails. They are still an estimate, and the interface labels them as such.
The Hyperliquid census. Public address state exposes real open positions, actual leverage and Hyperliquid's own liquidation price. EdgeDepth prioritizes recently active, liquidation-relevant wallets, aggregates their positions by symbol and price, and draws the result as Liq Levels HL with a visible coverage badge. Read exactly how the Hyperliquid layer works →
The observed tape. Confirmed forced liquidations render as notional-sized dots, so modeled pressure, covered live positions and what actually fired sit on the same chart without being conflated.
The universal field shows the pressure landscape on any market. The Hyperliquid layer adds direct evidence where public position state permits it. Observed events close the loop.
Because the field is computed from price itself, replay is exact, not an approximation. A live snapshot only ever shows the current fuel; it cannot show you what a cascade actually does. Replay can: rewind a historical move and watch the fuel build, the zones light up, and the liquidations fire in sequence.
Guided lessons walk you through real archived events on the same display: how a cluster formed and how it burned, move by move, on real market history. How replay works →
Research turns that study into a question you can ask across the whole 415-day record: search for liquidation bursts, cascades or a dollar amount liquidated within an hour, then see every match and what followed each one.
The heatmap shows where the fuel is, not where price must go. Exchanges report only a fraction of liquidations, so we calibrate on where they happen, not the dollar totals, and we label estimates as estimates. Nothing here is trading advice.