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ETH Long/Short Ratio (Hyperliquid)

How ETH traders on Hyperliquid are positioned: tracked accounts long vs short, position value long vs short, the split by position size and the largest positions, from real on-chain positions. Compare it with the Binance and Bybit ratios below.

63.6% of the 1,026 tracked Hyperliquid ETH positions are long (long/short ratio 1.75). By value, longs hold 49.0% ($1.31B long vs $1.37B short). Positions of $1.00M or more are 48.0% long by value.

22,654 positions in 3,909 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 18:08 UTC

Accounts long1,026 tracked
63.6% long
Ratio 1.75653 long · 373 short
Value longby size
49.0% long
Ratio 0.96$1.31B$1.37B
Whales long$1.00M+ positions
48.0% long
130 long · 106 short
Coverage of ETH OItracked
45.3%
$2.68B tracked · $2.96B OI92.3% checked ≤ 15 min

ETH long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 63.6%1.75
Hyperliquid (tracked)position value 49.0%0.96
Binanceaccounts 73.3%2.75
Bybitaccounts 67.3%2.06
Binance top tradersposition value 62.2%1.65

By position size

tracked ETH positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K7252 58.1%$240K$104K 69.7%
$10K–$100K20384 70.7%$8.24M$3.81M 68.4%
$100K–$1M248131 65.4%$94.27M$48.63M 66.0%
$1M and up130106 55.1%$1.21B$1.31B 48.0%

Largest tracked ETH positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x5b5d…c060 Short $281.23M 2,304.1 -$40.37M 4,172.2 +55.09% 5× cross just now
0xb83d…6e36 Short $208.70M 2,338.1 -$27.32M 4,201.1 +56.16% 5× cross just now
0x0392…d7d9 Long $152.97M 2,538.2 $8.64M 2,457.9 -8.63% 8× cross just now
0x77dd…e0e9 Long $110.91M 2,693.9 -$153K 2,517.5 -6.42% 10× cross just now
0x020c…5872 Long $89.25M 2,670.4 $656K 2,528.1 -6.02% 25× cross just now
0xde8d…9524 Long $81.47M 2,134.4 $16.83M 1,769.2 -34.23% 20× cross just now
0x7fda…17d1 Short $67.68M 2,595.1 -$2.39M 4,157.1 +54.53% 25× cross just now
0xfc27…9d9d Short $60.03M 2,644.6 -$1.02M 3,032.9 +12.74% 25× cross just now
0xedcd…d05a Long $53.80M 1,936 $15.08M 1,170.4 -56.49% 4× cross just now
0xdf95…7d72 Short $42.12M 2,377.6 -$4.89M 4,336.2 +61.19% 25× cross just now
0xb695…a92d Short $40.29M 2,525.6 -$2.46M 4,545.1 +68.95% 20× cross just now
0xecb6…2b00 Short $40.25M 2,700.4 $153K 5,719.4 +112.60% 15× cross just now
0x4487…c92d Short $37.82M 2,647.6 -$600K 3,176.9 +18.09% 10× cross just now
0x45d2…4029 Short $37.53M 2,443.6 -$3.44M 4,977.5 +85.02% 20× cross just now
0xa61c…66b9 Short $29.83M 2,641.6 -$539K 3,214.3 +19.48% 15× cross just now
0x6c93…59a4 Long $29.59M 2,441.2 $2.74M 1,585.1 -41.08% 20× cross just now
0x0c5d…36b3 Long $29.59M 2,482.2 $2.29M 1,627.2 -39.52% 20× cross just now
0xa9de…e049 Long $29.59M 2,481.8 $2.29M 1,626.8 -39.53% 20× cross just now
0x09dc…c094 Long $29.59M 2,465.3 $2.47M 1,620.2 -39.78% 20× cross just now
0xa2ce…3126 Long $26.95M 2,162.8 $5.28M 1,218.5 -54.70% 10× cross just now

Tracker coverage and freshness

all Hyperliquid perps · 41.9% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.39B60 s60 s
B3,0003,000$2.71B15 min44 min
C44,389604$9.43M4 h22 h

Tier A is the 300 wallets with the largest positions; B the next ones; C everyone else. Hyperliquid's API rate limit decides how often the smaller tiers can be checked, so their actual cycle can be longer than the target. Coverage is tracked value ÷ (2 × Hyperliquid open interest); 36.5% was checked in the last 15 minutes. Wallets not checked for 48 hours are left out of this page.

How to read it. The accounts figure counts each tracked account with an open ETH position once; the value figure weighs positions by size. Binance and Bybit publish their own ratios for all their users; the Hyperliquid figures here are computed from the public positions of the wallets this site tracks. Not financial advice.

ETH Hyperliquid long/short ratio FAQ

How is the Hyperliquid ETH long/short ratio calculated?

From the real open positions of the Hyperliquid wallets this site tracks. The accounts ratio counts every account with an open position once: the number of accounts long divided by the number short. The value ratio weighs positions by size at the mark price, so a few large traders can outweigh many small ones.

How is it different from the Binance or Bybit long/short ratio?

Binance and Bybit publish their own ratios; you have to trust their numbers. Hyperliquid is an on-chain exchange, so its positions are public and this ratio is computed directly from them. It covers the wallets this site tracks, not every account, so it is a large sample rather than the full market.

How much of ETH open interest does this cover?

The tracked ETH positions add up to 45.3% of ETH's open interest on Hyperliquid (tracked long plus short value divided by twice the open interest, since every long has a matching short).

How often does it update?

The positions are reloaded every 2 minutes. The 300 largest wallets are re-checked every minute, smaller ones every few hours, and wallets not checked for 48 hours are left out.

Is a high long/short ratio bullish?

Not on its own. Crowded positioning can unwind sharply: a market where most accounts are long can fall fast if those longs are forced to sell. Compare the accounts ratio with the value ratio to see whether the crowd and the large traders agree. This is market data, not financial advice.