# HYPERLIQUIDATED A read-only terminal for Hyperliquid, and a JSON API over the same data. It watches the venue's public trade feed, keeps what every print did to every wallet, and answers questions about it. It holds no exchange key, it places nothing, it sizes nothing, and no route here calls Hyperliquid. Base URL: http://127.0.0.1:8791 Everything is GET. Everything is JSON except this file. Errors are {"error": "...", "path": "..."} with a 4xx/5xx status. ## The three words. They never change meaning. tracked the wallets WE watch: anyone who has printed since meta.feed_started_ms. NEVER the venue's total. Every aggregate says which of the two it is. anchored the position was read from Hyperliquid's own clearinghouseState. The number is exact. It does NOT mean fresh. inferred our running net since our tape started. It is NOT a position. The screen renders it with a ~. anchoring a fourth state, on the tape only: the context walk has not reached this print yet, so we are not going to pretend we know. Exactly one of anchored / inferred / anchoring is true for any row. ## Time and units _ms milliseconds since the Unix epoch, UTC. Every v2 timestamp is _ms. _s seconds. Some v1 routes also carry a bare `ts`, which is SECONDS. _usd dollars. _pct percent, already multiplied by 100. A "window" is rolling and ends now: 24h is the last 24 hours, not since midnight. ## The horizon: 48 hours The `tape` table is pruned at 48h. A print's price, size, dollar value, buyer, seller and counterparty exist only for the last 48h. Kept for ever: tape_ctx (what each print did to each wallet), coin_min (per-coin per-minute OHLC and flow), fills, wallet_snap, coin_snap. So a 24h replay is complete, a 48h one may not be, and there is no 72h one. For anything older than 48h use /api/v2/history and /api/v2/coin_history. ## The ten questions, and the one route for each 1. What just printed, and what did it do to that wallet? GET /api/v2/tape?after_ts_ms=&after_tid=&limit= 2. Tell me the moment something new prints. GET /api/v2/tape?after_ts_ms=&after_tid=&wait=25 3. What happened in this coin further back than 48 hours? GET /api/v2/history?coin=BTC&from_ms=&to_ms= 4. What did price and flow do, minute by minute? GET /api/v2/coin_history?coin=BTC&res=1m&from_ms=&to_ms= 5. What has this wallet actually traded? GET /api/v2/wallet//fills?from_ms=&to_ms= 6. How big is this wallet's book, and how has it moved? GET /api/v2/books/ -- every leg, its events, how well we read it (older history: /api/v2/wallet//snapshots?from_ms=&to_ms=) 6b. Which big books are offloading, building, flipping RIGHT NOW? GET /api/v2/book_events?window=24h&ev=offload -- the whale tape; poll with after_ts_ms=&after_id= for only what is new 6c. Who holds the most in this coin, and which way? GET /api/v2/coin_books?coin=XRP 6d. The biggest books on the venue, by how much they lean on it? GET /api/v2/books?sort=influence 7. What exactly does every field mean? GET /api/v2/openapi.json 8. Is the data behind, or broken? GET /api/health -- feed_age_s > 60 is an outage; anchor.walk_lag_ms > 60000 means the position effects are stale. 9. What is happening right now, in sentences? GET /api/pulse?minutes=15 10. Who got liquidated, and who is close? GET /api/liqs?hours=24 -- among TRACKED wallets, not the venue's total. Also useful, all v1: /api/venue_tape (newest-first, built for a screen), /api/replay?coin=X&hours=24 (one coin, one call), /api/coinstory/, /api/wallet/, /api/markets, /api/traders, /api/lanes (coverage and freshness per lane), /api/selfcheck (our own arithmetic report) and /api/bots (who we call a machine, and what that flag edits on the screen). ## The poll budget Do not poll harder than 1 request per second. You are reading SQLite on one small box, and one impatient client can slow it for everybody. For incoming prints use wait= on /api/v2/tape instead of a tight loop: it holds the request open for up to 25 seconds and returns the instant there is something. Poll /api/health, not the heavy pages, to ask if we are alive. Every integer parameter is clamped; asking for more does not get you more. ## What you will not find here No badge, no score, no verdict, no forecast, no signal. A rule is named as an edge only after 7 days AND 40 events in its class AND the same sign in both halves AND beating a wallet-shuffled null; until then /api/setups says "unscored" and says why. A coverage percentage travels with every aggregate, because a number without its denominator is an assertion. An empty column means we could not look, not that nobody qualified. ====================================================================== ## THE ROUTES, one line each (generated from the registry) GET /api/v2/book_events The whale tape: what the big books DID between two position reads. Never from fills. ?addr (string) — one wallet, lower-cased ?after_id (integer) — the id of the row at after_ts_ms you already hold, so rows sharing that millisecond are not re-sent ?after_ts_ms (integer) — walk FORWARDS: only events newer than this ts_ms (with after_id), oldest first. The "what is new since" call for an agent. ?coin (string) — one coin, upper-cased. Omit for every coin. ?cursor (string) — `next` from the previous page: ts_ms:id of the last row you saw. Walks BACKWARDS (older). sort=time only. ?dir (string) — long or short -- the side the leg ended on ?ev (string) — comma list of offload,build,flip,open,close ?group (string) — hour or none (default). DISPLAY ONLY -- every event is still returned; `group` is filled in. ?limit (integer) — rows, clamped 1..500 (default 100) ?min_book (number) — only books at least this big after the move; default 5,000,000 ?min_leg (number) — only moves of at least this many dollars; default 500,000, which is the STORED floor ?min_pct (number) — only moves of at least this fraction of the leg; default 0.10, which is the STORED floor ?sort (string) — time (default, newest first) or influence ?window (string) — 1h / 24h (default) / 7d GET /api/v2/books Every tracked wallet's WHOLE OPEN BOOK, one row, ordered by how much of the market it leans on. ?limit (integer) — rows, clamped 1..500 (default 25) ?min_gross (number) — only books worth at least this many dollars of open notional; default 5,000,000 ?offset (integer) — rows to skip -- page with `next.offset` ?sort (string) — influence (default) / gross / net_short / net_long / unrealized. `sorts` in the reply says what each one means. ?tier (string) — whale / large / small. Omit for every tier. GET /api/v2/books/{addr} One wallet's book position by position, the events it generated, and how well we have actually been reading it. ?addr (string) — the wallet, 0x…, lower-cased ?addr (string) — the wallet, lower-cased, in the path ?events (string) — 24h (default) or 7d -- the event window ?min_leg (number) — hide positions smaller than this many dollars GET /api/v2/coin_books Who holds one coin and where they got in. `entry_gte` answers "who is short XRP above 1.40" in one call. ?coin (string) — the perp, upper-cased. Required. ?entry_gte (number) — only legs whose ENTRY price is at or above this ?entry_lte (number) — only legs whose ENTRY price is at or below this ?event_type (string) — comma list of offload,build,flip,open,close -- which events `last_event` may report ?events (string) — 1h / 24h (default) / 7d -- the window `last_event` looks back over ?limit (integer) — rows, clamped 1..200 (default 50) ?min_book (number) — only wallets whose WHOLE book is at least this big ?min_notional (number) — only legs worth at least this many dollars; default 100,000 ?side (string) — long or short. Omit for both. ?sort (string) — notional (default) / entry / pct_margin / influence GET /api/v2/coin_history One coin's minutes or five-minute buckets, off our own tape. Kept for ever. ?after_ts_ms (integer) — cursor: ts_ms of the last bucket you saw ?coin (string) — the perp, upper-cased ?from_ms (integer) — window start, milliseconds UTC ?limit (integer) — buckets, clamped 1..2000 (default 500) ?res (string) — 1m or 5m; anything else resolves to 1m ?to_ms (integer) — window end, milliseconds UTC GET /api/v2/history The permanent record: tape_ctx alone, unaffected by the 48h tape prune. ?addr (string) — one wallet, lower-cased. Omit for every wallet. ?after_addr (string) — cursor: addr of the last row you saw -- one print can be two rows ?after_tid (integer) — cursor: tid of the last row you saw ?after_ts_ms (integer) — cursor: ts_ms of the last row you saw ?coin (string) — one coin, upper-cased. Omit for every coin. ?from_ms (integer) — window start, milliseconds UTC ?limit (integer) — rows, clamped 1..500 (default 200) ?to_ms (integer) — window end, milliseconds UTC GET /api/v2/openapi.json This registry, as OpenAPI. Generated, never hand-written. GET /api/v2/tape Every print on the venue, ascending, keyset-cursored. wait= long-polls for the next one. ?after_tid (integer) — cursor: tid of the last row you saw. Send it with after_ts_ms or prints sharing that millisecond are re-sent. ?after_ts_ms (integer) — cursor: ts_ms of the last row you saw. 0 = start at the oldest retained print. ?coin (string) — one coin, upper-cased. Omit for every coin. ?limit (integer) — rows, clamped 1..500 (default 200) ?min_usd (number) — only prints worth at least this many dollars ?wait (integer) — seconds to hold the request open when there is nothing new, clamped 0..25 GET /api/v2/wallet/{addr}/fills One tracked wallet's fills, ascending, keyset-cursored. ?addr (string) — the wallet, 0x…, lower-cased ?after_id (integer) — cursor: id of the last fill you saw ?after_ts_ms (integer) — cursor: ts_ms of the last fill you saw ?coin (string) — one coin, upper-cased ?from_ms (integer) — window start, milliseconds UTC ?limit (integer) — rows, clamped 1..500 (default 200) ?spot (integer) — 1 to include spot and tokenised equities; perps only by default ?to_ms (integer) — window end, milliseconds UTC GET /api/v2/wallet/{addr}/snapshots One wallet's hourly account snapshots. ?addr (string) — the wallet, 0x…, lower-cased ?after_ts_ms (integer) — cursor: ts_ms of the last snapshot you saw ?from_ms (integer) — window start, milliseconds UTC ?limit (integer) — rows, clamped 1..1000 (default 500) ?to_ms (integer) — window end, milliseconds UTC GET /llms.txt What this product is and which route answers which question. Plain text, not JSON. ====================================================================== ## EVERY WORD ON THE SCREEN, defined once These are the same definitions the page shows on hover; they are read out of the page's own glossary so the two cannot drift apart. session What THIS browser tab has watched since you opened it: how many prints, how many dollars, how many different wallets. It resets when you reload. It is not a market total. clock Your own machine’s time, so you can tell at a glance whether the page has frozen. 1h 4h 24h 7d The WINDOW. Every number that says "in the window" is recalculated over this much time, ending now. It rolls: 24h means the last 24 hours, not since midnight. jump Type a coin (BTC) or a wallet (0x…) and press enter. One box, because a terminal has one command line. TAPE MARKETS FOLLOW BRIEF DASH The five pages. TAPE is every print on the venue; MARKETS is one row per coin; FOLLOW is the wallets that have earned being followed; BRIEF is last night’s written summary; DASH is the overview. RIGHT NOW The three biggest things that happened in the last 15 minutes, written as sentences. Biggest first, one per wallet. A flip counts for more than an open of the same size because it is two decisions in one print. leans What the data leans towards on a coin. SUGGEST-ONLY: nothing here places an order, and no lean has passed the quant’s bar yet. liq 1h Liquidations in the last hour, split into longs forced out and shorts forced out, in dollars. Among tracked wallets — not the venue’s total, because the public feed does not carry a liquidation flag. wallets active How many different addresses printed at least once in the last hour, off our own mirrored tape. Activity, not a count of everyone who exists. what it did What that print DID to the wallet’s own position: opened, added, reduced, closed or flipped it. This is the whole point of the tape — a buy that closes a short is not a bullish buy. checking… Hyperliquid is being asked what this wallet is holding right now. Until it answers, nothing here will claim to know. still catching up · Ns What this print did to the position is not worked out yet, and it is N seconds old. Nothing is lost: the row fills itself in as soon as the sums catch up. ~ (tilde) INFERRED, not confirmed. We have no position anchor for this wallet, so the size shown is its net since the tape started — not its actual position. pos The wallet’s position in that coin AFTER the print, in dollars, with its side. Not the size of the print itself. vs 24h Where this print happened inside the last 24 hours’ price range — at the high, at the low, or in between. Trades at the extremes are the ones worth reading. level The print landed on a level people watch: the 24h high, the 24h low, or a round number. other The wallet on the OTHER side of the print — who took the other end of it. The letter in front is their tier: W whale, L large, s small. tier: W / L / s How big the wallet is, by the size it trades: W whale, L large, s small. A whale being wrong is more interesting than a small wallet being right. bot A wallet whose printing pattern is machine-like. Its prints are collapsed to one line a minute so it cannot bury the other forty wallets off the bottom of the screen. pnl REALISED profit: money actually banked by CLOSING inside the window. This is the column the WINNERS tab sorts on, and it is the honest one — you cannot spend an open position. open UNREALISED profit: what the positions still open would make if closed at the current mark. It is a bet, not a win. It can vanish. It is a column here and never the sort. WINNERS Ranked by realised p/l closed inside the window. Every tier. Perps only. ALL-TIME Hyperliquid’s OWN lifetime figure for the wallet, read from the venue. Not ours and not this window. A wallet we have not read yet is ABSENT from this board — absent is not zero. ACTIVE NOW Ranked by dollars printed in the window. This is who is BUSY, which is not who is right. top The wallet’s biggest open position right now, by dollars. w 24h How much of the last 24 hours this wallet won: the share of its closed round-trips that made money. lev Leverage on the position: how many dollars of exposure per dollar of margin. 5x means a 20% move against it wipes the margin. ins The insider heuristic fired on this wallet. It is a CLAIM WITH EVIDENCE — hover it, or open the wallet page, and the rows that triggered it are listed. Argue with it. CLOSED TRADES One row per completed ROUND-TRIP: flat, into a position, back to flat. Built from the wallet’s own fills, the same way and from the same source as every p/l on this terminal. paid in Dollars put in to build the position. A dash means the position was already open when the window started, so the cost is not in the fills we hold — unknown, not zero. got out Dollars taken back out closing it. made The venue’s own realised p/l for the round-trip. Not our arithmetic on prices. return What it made as a percentage of what was put in. A dash where the cost basis is unknown. held How long the position was open, first fill to last. realised 24h Money banked by closing, inside the window. The same number, from the same function, that the WINNERS board would print for this wallet. lifetime (venue) Hyperliquid’s own p/l for the whole life of the account, including everything before we existed. "Not read yet" means we have not asked — it does not mean zero. p/l on open risk What the positions it holds right now would make if closed at the mark. net flow $ Dollars bought minus dollars sold. This is FLOW, not profit: a big red number here only means it sold more than it bought. The p/l column is the money question. still open Positions opened inside the window that have not come back to flat yet. first touches The first time this wallet ever traded that coin, first seen. New money arriving is the earliest signal we have. print chart The picture at the top of a coin page. The line is the price; every dot is one real trade, drawn at the second and the price it happened at. It is a record of what happened and nothing else \u2014 there are no zones on it, no arrows and no forecast. marker One dot = one print. Where it sits across is when it happened; where it sits up and down is the price it happened at. Green means the buyer crossed the spread, red means the seller did. solid / hollow dot What that print DID to the wallet that took it. Solid = a book being BUILT (opened, added to, or flipped). Hollow = a book being UNWOUND (reduced or closed). Grey = we have not worked out what it did yet, so the dot says so rather than guessing. whale ring A thin white circle around a dot: the wallet that took that print is in the whale cohort. crowd band The short strip under the price. It draws the share of the TRACKED book on this coin that is long, with 50% marked. It is our tracked wallets, never the venue\u2019s whole book, and it only exists at five-minute resolution because that is how often the snapshot is written. liquidation pocket A dashed amber line at a price where a lot of the tracked book gets forced out: the 0.5% rung within 5% of the mark holding the most dollars of liquidation prices. It is OUR map of the positions we poll, not the venue\u2019s book, and a pocket too far off the scale to draw honestly becomes a pointer at the edge saying which way and how far, rather than a line at a price that is not there. $ floor The smallest print the chart will draw. On auto it starts at the window\u2019s default and steps UP while the answer is too crowded to read \u2014 BTC at $50k prints thousands of times a day, and a smear is not a chart. Set it by hand with the chips and it stays where you put it. 24h high / 24h low The two faint dashed lines. They come from our own per-minute rollup of the tape over the last day \u2014 not the venue\u2019s candles \u2014 and they are only drawn when the series on screen actually covers a day. a badge is a RECORD, not a forecast Every chip below is something that has ALREADY happened, with a threshold written down before it was awarded. Not one of them says what a wallet will do next. The bar for that is 7 days AND 40 events AND the same sign in both halves AND beating a shuffled null, and none of it is met — so nothing here claims it. ♛ CROWN The single highest realised p/l on this board, and only when it is at least $10,000. A crown for making $12 is a joke at the reader\u2019s expense. ◆ IRON Won consistently, at size, over enough trades to mean it: at least 20 closed round-trips, a 60% win rate, and an average position of $5,000 or more. ◎ SNIPER Kept arriving first in thin coins: three or more first touches into coins with under $20m of open interest, counting only wallets we had already watched for an hour. ■ SIZE Printed a single clip of $1,000,000 or more in the window. ≡ MAKER Was hit far more often than it crossed the spread — 70% or more of its prints were resting orders somebody else came into, over at least 50 prints. It is providing liquidity, not taking a view. ✖ BURNED Was liquidated in the window. Hyperliquid\u2019s own word, or our inferred one, and the wallet page says which. ✗ KNIFE The single worst realised p/l on this board, and only below -$10,000. A board that cannot print a loss is a marketing page. at a glance The row of tiles at the bottom of the top section. Every tile is a number that is already somewhere on the page, put where a reader who has just arrived can find it. Each one carries the WINDOW it was measured over, each one is a link to the working behind it, and each one has a copy button that puts the line and the link on your clipboard. A tile showing an em dash is a number we do not hold — never a zero, never a guess. Nothing in this row claims an edge. forced out Dollars of tracked position Hyperliquid declared liquidated in the last hour, longs and shorts together. Our coverage, not the venue total: the public trades channel carries no liquidation flag. near liquidation Tracked positions sitting inside 2% of their own liquidation price RIGHT NOW. A live count, not a window, and the reason "forced out" can be empty without being broken. alerts Alerts raised in the last hour, out of the ones we are holding. The +N on the alerts row opens the rest. biggest print The largest single print in the tape THIS PAGE IS HOLDING, machines excluded. Its qualifier says how far back that buffer reaches — it is an hour only when it says an hour. most one-sided The coin whose TRACKED book is furthest from an even long/short split, counting only coins with at least 50 tracked positions. Tracked wallets, never the venue\u2019s positioning. 2nd one-sided The coin with the second most one-sided tracked book, on the same floor of 50 tracked positions. biggest mover The largest 24h gain on the venue, against the previous day\u2019s close, among coins with real volume behind them. biggest faller The largest 24h fall on the venue, against the previous day\u2019s close, on the same volume floor. closest to forced The coin holding the most tracked liquidation dollars within 3% of its mark. Money that has not moved yet, and where it would move from. coins listed How many perpetual markets the venue is quoting that we hold a mark for. Perps only; there is no spot on this terminal. mark The venue\u2019s own mark price for the coin, with its move against the previous day\u2019s close beside it. crowd long The share of the TRACKED book on this coin that is long, in dollars. Half of it moving is our coverage moving, so the drift beside it says whether the tracked dollars held still. liq pocket above The 0.5% price rung within 5% ABOVE the mark that holds the most tracked liquidation dollars — shorts. Not a model and not the venue\u2019s book: the real liquidation price of every position we track, bucketed. liq pocket below The same rung BELOW the mark — longs. Where forced selling would come from if price fell that far. whales 24h Net dollars whales bought minus sold in this coin over 24 hours, with the small wallets\u2019 net beside it. Flow, not profit. realised Money this wallet actually banked by CLOSING inside the window. The same number, from the same function, that the WINNERS board would print for it. lifetime · venue Hyperliquid\u2019s own p/l for the whole life of the account, including everything before this terminal existed. "Not read yet" means we have not asked — it does not mean zero. top position The wallet\u2019s largest open position by notional, at our last poll of it. The qualifier says how old that poll is. won The share of this wallet\u2019s closed round-trips in the window that made money, with the number of round-trips behind it. badges held The badge chips this wallet has earned. Every one is a RECORD of something that has already happened against a threshold written down first — not a forecast. followed How many wallets have cleared the pre-registered follow bar, out of the names on the board. Zero is the honest answer while the bar is unmet. board becomes real The date the first wallet on this board can clear the history half of the bar. Until then every row is provisional and says so. top by skill The best round-trip record on the board, not a rating of the trader. Skill rewards repetition, not one lucky trade — and below the bar it carries no forward claim at all. the bar The pre-registered bar for being followed: round-trips AND days of history, both, fixed before anybody was ranked. top winner The largest realised p/l on the venue board in the window — closed money only. biggest flip The largest position a whale turned right around in the window: long to short, or short to long, in one print. machines The share of prints in the last hour with a flagged machine on at least one side. It is a behaviour test, not an identity. prints with a machine The same number, said in full: of every print on the venue in the window, the share with a flagged wallet on either side. of how many The total prints the share above was measured over. A percentage without its denominator is a decoration. flagged wallets How many wallets the machine rule is flagging in the window. The flag is re-evaluated every pass, so it moves. busiest The flagged wallet with the most prints in the window, and how many. prints How many fills landed in the window the tile names. liquidation alerts Liquidation alerts the brief recorded on its day, summed over the coins it lists. Tracked wallets only \u2014 the public trades channel carries no liquidation flag, so this is our coverage and never the venue total. flips over $250k The nightly brief does not count flips over a size floor, so this tile is an em dash. The dash watchlist carries whale flips live over its own window, which is a different question and therefore not printed under this label. 2nd by skill The second name on the follow board, on the same ranking and under the same caveat as the first. 3rd by skill The third name on the follow board, on the same ranking and under the same caveat as the first. 2nd busiest The flagged wallet with the second most prints in the window. 3rd busiest The flagged wallet with the third most prints in the window. traded Dollars of notional that changed hands in the window the tile names. wallets traded How many distinct wallets acted at or above the floor named in the qualifier. what we learned Signal classes whose forward-return score has cleared the pre-registered bar. It is allowed to be empty, and the tile says how far through the bar we are. whale first touches Whales walking into a coin they had never traded before, on the day the brief covers. The qualifier says how many coins the figure was summed over \u2014 it is the top of that table, not the venue total. written When the brief was built. Nothing in it is recomputed when you open it: the numbers are as of that moment and the database has moved on. catching up · Ns The data behind these tiles is this far behind now. It only appears over 30 seconds, so that when it does appear it means something. open book Everything a wallet is holding right now, across every coin, added up. Not what it has made and not what it has closed \u2014 what it is carrying. A wallet can have a $40m book and have realised almost nothing, and every p/l board on this terminal would show it as a blank line. gross / net GROSS is long plus short: the whole book. NET is long minus short: which way it actually leans. A $100m book that is $50m long and $50m short has a gross of $100m and a net of nothing. net lean Net divided by gross, between \u22121 and +1. \u22121 is a book that is entirely short; 0 is a book that cancels itself out. influence Gross \u00d7 (1 + the size of the net lean) \u2014 which is the same as gross + |net|. It is a SIZE IN DOLLARS of one-sided open position, so a big book that leans hard outranks a big book that is hedged. It is not a score, not a ranking of skill, and it says nothing about what the wallet will do next. read \u2264 2h A book is only as current as the last time we read that wallet from Hyperliquid. Every book row says how many seconds ago that was, and a read over two hours old is marked STALE. It is not a live figure and it never pretends to be. book event What a book DID between two of our reads: OFFLOADING, BUILDING, FLIPPED, OPENED or CLOSED. Measured on the SIZE the wallet holds, never on the dollar value \u2014 a price that moved while the wallet sat perfectly still is not a trade. OFFLOADING A leg of a big book got smaller by at least $500,000 and at least a tenth of itself, between two reads at most an hour apart. It is a description of what happened, not a prediction of what happens next. BUILDING The same, the other way: the leg got bigger by at least $500,000 and at least a tenth of itself. the 10% blind spot The tenth is there so a whale trimming 1% does not fill the tape \u2014 and it means a $20m cut off a $300m leg does NOT fire, because it is under a tenth of the leg. The rule is stated as numbers and it has a blind spot; it is not hidden. a grouped row\u2019s badge When one wallet made several moves in one hour, the row shows the kind that moved the MOST dollars, and a chip beside it counts the rest (\u201c+2 flips \u00b7 +1 open\u201d). The dollars are the size traded across every move, then which way it netted. Expand the row and each move has its own badge. gap How far apart the two position reads were that this change was measured between. The change happened somewhere inside that gap \u2014 never at a known second. Every big book is re-read at least every 15 minutes. FLIPPED A leg changed sign \u2014 long to short, or short to long \u2014 with at least $500,000 on both ends. Counted once, because it is one decision, not a close and an open, and its dollars are what was TRADED: the old leg plus the new one, at one price, signed by the side it ended on. underwater at the event What that position was losing AT THE MOMENT WE READ IT \u2014 Hyperliquid\u2019s own unrealised figure, then as a share of what stands behind the leg: its own margin when the leg is ISOLATED, the whole account when it is CROSS. It is never re-priced afterwards, so the number keeps meaning what it meant. whale lean Whale-sized tracked wallets, long against short in one coin, by how many of them and by how many dollars \u2014 out of the books we have read in the last two hours, never the venue\u2019s total. time When the change was first SEEN — the clock on the later of the two reads of that wallet, shown on your own machine\u2019s clock. It is not when the wallet acted; it is when we could first tell that it had. event The label the rule put on what the book did between two reads: OFFLOADING, BUILDING, FLIPPED, OPENED or CLOSED. One badge per row. whale The wallet whose book moved. Click it for that wallet\u2019s own page. A name instead of an address means we have a label for it, not that we know who it is. coin The coin the change happened in. When one row covers several — a wallet that moved five legs inside one hour — every coin is named and each one is a link. $ changed Dollars of open notional added or taken off between the two reads, priced at ONE mark so that a price move cannot masquerade as a trade. It is not a cash flow and it is not a fill: no money changed hands at this number. at price The mark at the later of the two reads — the price the change is booked at. It is NEVER a fill price, and on a grouped row it says how many marks were involved instead of pretending there was one. book after The whole book AFTER the change, in one phrase: which way it nets, how many dollars of open notional it carries, and across how many coins. under water The unrealised p/l on that leg AT THE MOMENT WE READ IT, in dollars, then as a share of what stands behind it. An ISOLATED leg is backed by its own margin, and there \u2212100% is the liquidation. A CROSS leg is backed by the whole account, so its share of the ACCOUNT is the honest number \u2014 \u201c% of margin\u201d on a cross leg can read \u22122,000% with no liquidation anywhere near. It is never re-priced later, so it keeps meaning what it meant. OPENED A leg of at least $5,000,000 appeared where the wallet had been flat in that coin at the earlier read. CLOSED A leg of at least $5,000,000 came all the way down to under 2% of itself. Flat, or near enough that the remainder is dust. \u00d7N in 40m This row is N events by ONE wallet inside ONE hour, collapsed so a wallet working through five legs reads as one decision. The dollars shown are the SUM of those N events, and every one of them is stored and served separately \u2014 the storage key is the pair of reads it came from, so two different moves in one hour are two rows. The grouping is display, never storage. \u00d7N in one read The same, when all N events came out of a single pair of reads: they were seen together, so no span of time can honestly be quoted for them. traded N% of it The size a grouped row traded across every move, over the book\u2019s own open notional after the moves. Over 100% means the wallet traded more than it now holds. one-coin book This wallet holds exactly one position and nothing else, so the leg and the book are the same thing. read N ago How long ago we last read this wallet\u2019s positions from the venue. Every row on this page carries it, because a figure without its age is a figure without a denominator. stale That read is over two hours old. The book may already be something else, and the page says so rather than quietly showing you yesterday. min book The floor: only books at least this big after the move appear. $5m is the widest the stored events go — the chips can filter that set DOWN and can never widen it. window How far back the rows go: the last hour, the last 24 hours or the last 7 days. only hurting Show only the events where the leg was UNDER WATER at the moment it moved — an unrealised loss on that coin at that read. It is a filter on the past, not a claim about pain to come. sort \u00b7 time Newest first, on the later read of each pair. The default. sort \u00b7 influence Biggest first, where big means the size of the move weighted by how much of that coin the leg is and capped so one enormous book cannot own the feed. A SIZE in dollars — never a score and never a forecast. whales net short \u00b7 majors Whale-tier tracked wallets, positions read in the last two hours, netted across BTC ETH SOL HYPE XRP. Open notional, not money at risk, and our set, not the venue\u2019s. leaning How many of the tracked books above the current floor are net short against how many are net long, at the last read of each. A count of books, never a count of dollars. biggest book The largest gross open book — long plus short — among tracked wallets above the current floor. biggest offload \u00b7 24h The single largest OFFLOADING event of the last 24 hours: the most dollars one book took off one leg between two reads. events \u00b7 24h How many book events cleared the rules in the last 24 hours. It is a FLOOR and it understates: an event needs two reads of the same wallet at most an hour apart, and we do not read every wallet that often. Fewer reads is fewer events, never a quieter market. the whole book Every open leg of that wallet at its last read, with what the venue itself reports for each: size, entry, mark, unrealised p/l, margin, liquidation price and leverage. notional The open size of a leg in dollars — margin \u00d7 leverage. It is what is exposed, not what is at risk. entry The venue\u2019s own average entry price for that leg. open p/l Hyperliquid\u2019s own unrealised figure for that leg at that read. We do not recompute it. under water (the book) That unrealised p/l as a share of what stands behind the leg: its own margin when ISOLATED (\u2212100% is where a liquidation lives), the whole account when CROSS, the notional when the venue did not say which. liq The liquidation price the venue reports for that leg, when it reports one. A dash means it did not. to liq How far the mark is from that liquidation price, as a percent of the mark. 24h change How that leg\u2019s signed notional has moved over the last 24 hours, from our own snapshots. A leg we have snapped only once is a dash \u2014 unknown, never zero. its last 24 hours Every event this one wallet\u2019s book generated in the last 24 hours, oldest at the bottom, with the coverage line saying how many times we actually read it. tracked The wallets WE watch — about eight thousand of them. Never the whole venue. Any number labelled tracked is about our set, and it says so. the venue Hyperliquid as a whole. A number labelled venue covers everybody, not just our set. inferred We worked it out; the venue did not tell us. Always marked, never mixed with a confirmed figure. confirmed Hyperliquid said so, in its own response. ====================================================================== ## WHERE TO START Human pages: https://hyperliquidated.dev/ (tape), https://hyperliquidated.dev/markets (scanner), https://hyperliquidated.dev/coin/BTC, https://hyperliquidated.dev/wallet/. Sitemap: https://hyperliquidated.dev/sitemap.xml One-call story for an agent: https://hyperliquidated.dev/api/v2/summary?coin=BTC or https://hyperliquidated.dev/api/v2/summary?wallet=0x… Field-level contract: https://hyperliquidated.dev/api/v2/openapi.json