How to track Hyperliquid whales: reading trades, positions and liquidation prices
Because Hyperliquid records every trade on-chain, you can see exactly what whales are doing. This guide explains how to read whale data on Whale Radar.
Reading a whale trade
On the dashboard, each whale trade tells you:
- Coin and side: for example "BTC · Buy" means the wallet just bought BTC aggressively.
- Amount: the total value of the fill.
- Position after the trade: for example "→ Long $31M · 20x · Liq 112,400" means the wallet is now long 31 million dollars at 20x leverage with a liquidation price of 112,400.
- "Closed": the trade took profit or cut the position, and the wallet no longer holds that coin.
Note: a Buy is not necessarily a new long. It can be closing a short. Always look at the position after the trade.
Seeing all positions of a wallet
Click a wallet address to open its profile: open positions, unrealized PnL, liquidation prices, distance to liquidation, trade history and win rate.
Which way are whales leaning
The Hyperliquid whales page adds up large wallets' positions per coin, so you can see whether whales are more long or short BTC, ETH, SOL and others.
Whale liquidation prices matter
When price approaches a large wallet's liquidation price, that position can be force-closed and move the market sharply. This is one of the most watched pieces of information.
What to be careful about
- Whales can hedge. A short on Hyperliquid may be offset by a long elsewhere or by spot holdings.
- Whales lose too. A big wallet is not necessarily a right wallet.
- Copy trading is risky. You enter late, price has already moved, and you do not know their exit plan.
Use whale data as a reference together with funding and liquidations, not as a buy or sell signal.