How GMX 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.
34.3% of the 67 tracked Hyperliquid GMX positions are long (long/short ratio 0.52). By value, longs hold 46.2% ($342K long vs $398K short).
49,646 positions in 11,952 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 20:08 UTC
Accounts long67 tracked
34.3% long
Ratio 0.5223 long · 44 short
Value longby size
46.2% long
Ratio 0.86$342K$398K
Whales long$1.00M+ positions
—
0 long · 0 short
Coverage of GMX OItracked
73.0%
$740K tracked · $507K OI55.0% checked ≤ 15 min
GMX long/short: Hyperliquid vs Binance and Bybit
share long
Source
Counts
Share long
Ratio
Hyperliquid (tracked)
accounts
34.3%
0.52
Hyperliquid (tracked)
position value
46.2%
0.86
Binance and Bybit don't publish a long/short ratio for GMX, or it hasn't loaded yet.
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); 73.5% 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 GMX 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.
GMX Hyperliquid long/short ratio FAQ
How is the Hyperliquid GMX 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 GMX open interest does this cover?
The tracked GMX positions add up to 73.0% of GMX'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.