Over the last 50 days we recorded 348 INIT positions closed by the exchange across 314 separate accounts. Each one read back from the fills Hyperliquid itself marks as a liquidation — not inferred from positions that disappeared.
09 November 2026, 20:00 UTC: 154 INIT positions were liquidated inside sixty minutes. Across the whole period, INIT liquidations were spread over 33 different hours — so that single hour carried 44.3% of everything that happened to INIT traders in 50 days.
12% of all INIT liquidations landed in an hour when ten or more other assets were being liquidated at the same time. They are not independent accidents on one book; they are the local expression of something moving across the whole exchange at once.
This is the part that catches people. A stop-loss on INIT reacts to INIT. It cannot know that the move is market-wide, that the book is about to get thin, or that your other position is going at the same moment. We measured the wave: an ordinary hour on Hyperliquid touches 5.8 assets, a loaded one touches 21. The record hour touched 141.
This page is the record. What INIT looks like at this moment — how much is sitting within 2% of its liquidation price today — is on the live page, updated continuously.
Paste your address and you get told when it gets close to its liquidation price. It is a public address, so there is no key, no signature and no account involved — and watching stays free.
Check an addressWe do not see the whole exchange. These figures cover the accounts we re-read, which at any moment is a few percent of Hyperliquid's carried notional, and our reading order favours accounts already close to liquidation. Every count here is a floor, not a total. The live feed publishes its own coverage with every number.