Hyperliquid whales
Using the board what opens what, and why some liquidations look impossible
Click any row to open that wallet: its whole book, its track record over 30 days, and every execution we have recorded for it. The market filters the board to that coin, the liquidation price opens that market’s liquidation map, and any column heading sorts.
Some of these look impossible - a long whose liquidation price sits above its entry. That is cross margin, marked X: the exchange sets the liquidation from the whole account’s equity, not from that one position, so a trader who is short five other markets can have a profitable long liquidate on the way up. A row marked M is isolated margin whose margin has been changed since it was opened - added to, or profit withdrawn. The entry, mark, liquidation price and return are read from Hyperliquid itself, not derived.
What changed between two position sweeps (every four minutes) on the tracked wallets: a position opened, closed, flipped side, or moved by a quarter or more. Different clock from the executions above - this is the book, those are the fills.
One row per market these whales hold, largest exposure first. Funding / day is what their net side pays (red) or collects (green) in twenty-four hours at the rate Hyperliquid is charging right now - a crowded side is an expensive side. Share of OI is how much of that market’s entire open interest sits in these wallets.
Ranked by realised profit over the last thirty days across the whole Hyperliquid leaderboard, not only the accounts we track by size - the best trader of a month is usually not the biggest one. Click a row for the full book. MarginPad runs its own season boards if you would rather be measured than watched.
How to read this board what the numbers mean, and what they do not
Hyperliquid whales currently hold $3.81 billion in open positions across 120 tracked wallets - $1.64 billion long vs $2.17 billion short, net short overall. Their combined unrealized PnL is +$91.2 million. Largest single position right now: $223.7 million short on ETH at 5x, liquidation near $3,635.
See it live: Live liquidation feed · Practice risk-free
How to read the whale board
See what the biggest traders are actually betting on. Because Hyperliquid is a fully on-chain perpetual exchange, every whale position is public - real size, real leverage, real liquidation price. This page carries net long versus short exposure, the ten figures that move first, a live feed of executions over $250,000, the largest open positions with live P&L, and a profile for every wallet. Free, no signup.
Hyperliquid settles every perpetual position on-chain, which means the exact size, leverage and liquidation price of the largest traders is public data - no estimates. The dominance bar at the top shows whether the biggest wallets are collectively net long or net short by notional value. The positions table ranks the single biggest bets: a whale running high leverage with its liquidation price sitting close to the mark is fragile - if price reaches that level the position is force-closed, and clusters of nearby liquidations often accelerate a move.
Whales are context, not a signal
A big position is a bet, not a guarantee - whales get liquidated too (watch the aggregate unrealized P&L). Use this board the way you would open interest and funding: to understand positioning and where the pain points are, not as a reason to blindly copy. When many large shorts sit just above price, an upward squeeze becomes more likely; when big longs pile in with tight liquidations below, a flush can cascade.
Whale data read from Hyperliquid on-chain by the MarginPad whale tracker. For information only - not financial advice.