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OP Long/Short Ratio (Hyperliquid)

How OP 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.

51.0% of the 155 tracked Hyperliquid OP positions are long (long/short ratio 1.04). By value, longs hold 46.9% ($1.57M long vs $1.78M short).

46,691 positions in 10,652 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 05:14 UTC

Accounts long155 tracked
51.0% long
Ratio 1.0479 long · 76 short
Value longby size
46.9% long
Ratio 0.88$1.57M$1.78M
Whales long$1.00M+ positions
—
0 long · 0 short
Coverage of OP OItracked
43.3%
$3.35M tracked · $3.86M OI69.3% checked ≤ 15 min

OP long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 51.0%1.04
Hyperliquid (tracked)position value 46.9%0.88
Binanceaccounts 67.1%2.04
Bybitaccounts 74.6%2.94
Binance top tradersposition value 63.6%1.74

By position size

tracked OP positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K4851 48.5%$104K$66K 61.0%
$10K–$100K2722 55.1%$814K$647K 55.7%
$100K–$1M43 57.1%$653K$1.06M 38.0%
$1M and up00—$0$0—

Largest tracked OP positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x07fd…689d Short $701K 0.1301 -$60K 1.476 +937.46% 5× cross 1 min ago
0x123d…3bff Long $324K 0.1009 $94K — — 5× cross just now
0xd08a…9931 Short $202K 0.1527 $15K 0.2596 +82.49% 5× cross 4 min ago
0xd6e5…5b42 Short $161K 0.2327 $103K 4.590 +3126.66% 5× cross 1 min ago
0xbcf6…adb2 Long $113K 0.1441 -$1,432 0.1113 -21.79% 5× isolated 2 h ago
0x2312…9e92 Long $112K 0.1272 $12K — — 5× cross 24 min ago
0x0d6a…ca57 Long $104K 0.1266 $11K 0.09402 -33.91% 3× isolated just now
0x01c0…7bee Long $85K 0.1162 $16K — — 3× cross 28 min ago
0xf2c5…4503 Long $79K 0.09043 $29K — — 5× cross 17 min ago
0x7345…b404 Short $78K 0.1342 -$4,411 2.247 +1479.74% 5× cross 1 min ago
0x7717…bd7e Short $77K 0.1466 $2,339 10.757 +7461.25% 5× cross 1 min ago
0x27c9…d65d Short $69K 0.1448 $1,218 1.649 +1058.90% 5× cross just now
0xa72d…9586 Long $65K 0.1492 -$3,167 — — 5× cross 12 min ago
0x2a74…1a67 Long $55K 0.1351 $2,794 0.1204 -15.40% 5× isolated 2 h ago
0x77ee…2902 Short $50K 0.09776 -$16K 19.429 +13557.70% 5× cross 1 min ago
0x9a15…3c12 Long $50K 0.1433 -$349 — — 5× cross 23 min ago
0x18a7…5df3 Long $47K 0.09241 $16K — — 5× cross 15 min ago
0xacb6…efbd Short $43K 0.1249 -$5,302 25.048 +17507.15% 5× cross just now
0x44c9…277c Long $41K 0.1068 $10K — — 5× cross 17 min ago
0x2ff2…faed Long $40K 0.1007 $12K — — 5× cross 7 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.9% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.25B60 s71 s
B3,0003,000$2.94B15 min40 min
C46,3447,352$360.24M4 h21 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); 37.8% 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 OP 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.

OP Hyperliquid long/short ratio FAQ

How is the Hyperliquid OP 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 OP open interest does this cover?

The tracked OP positions add up to 43.3% of OP'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.