Binancecoin
Sectors
Sentiment
Track BNB perpetual futures liquidations across Binance, Bybit, OKX, Deribit, Hyperliquid.
Sharpe Terminal aggregates BNB (BNB) perpetual futures liquidations data from Binance, Bybit, OKX, Deribit, Hyperliquid and eight additional exchanges into a single real-time chart. Compare exchange-level breakdowns, overlay price, and switch between 1W, 1M, 3M, 1Y and 3Y historical windows. Forced liquidations of leveraged long and short positions across exchanges. Derivatives traders use this view to confirm trend strength, spot crowded positioning, and pinpoint liquidation cascades before they ripple into spot.
BNB has an unusual futures structure: perpetual OI is modest vs. its market cap (typically $500M-$1B) because BNB's largest holder base — Binance ecosystem participants — hold spot for fee discounts, Launchpad eligibility, and BSC gas rather than trading perps. Binance itself lists BNB perps, along with Bybit, OKX, and a handful of smaller venues; CME has no BNB product. BNB funding is structurally low and stable, often sub-5% APR for weeks, because the carry trade (long spot for utility, short perp for yield) is heavily farmed. Watch for BNB OI spikes around Binance Launchpad or HODLer Airdrop announcements — these are the two most consistent BNB-specific catalysts that drive leveraged positioning.
Liquidations are forced position closes triggered when a leveraged trader's margin drops below the exchange's maintenance requirement. The exchange's liquidation engine market-closes the position, which adds one-sided buying pressure (for shorts liquidating) or selling pressure (for longs liquidating). Large liquidation clusters create cascades because one liquidation pushes price into the next liquidation level — this is the mechanism behind crypto's characteristic vertical candles and long wicks. Exchange-reported liquidation data is known to under-report true volume by 50-90% (post-FTX many exchanges throttled their liquidation feeds), so relative trend changes matter more than absolute notional.
Shorts liquidated (green bars above zero) signal a short squeeze in progress; longs liquidated (red bars below zero) signal capitulation. Single-exchange liquidation spikes over $100M on BTC, $50M on ETH, or $20M on mid-cap alts are statistically reliable local-reversal markers. Multi-exchange coordinated liquidation events (visible as synchronous spikes across Binance, Bybit, and OKX) are the most reliable trend-flip signals. Watch the ratio of longs-to-shorts liquidated — sustained long-side dominance during a downtrend confirms deleveraging is still underway.