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PENDLE Long/Short Ratio (Hyperliquid)

How PENDLE 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.

66.5% of the 257 tracked Hyperliquid PENDLE positions are long (long/short ratio 1.99). By value, longs hold 53.4% ($6.48M long vs $5.66M short). Positions of $1.00M or more are 67.8% long by value.

44,639 positions in 10,156 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 01:06 UTC

Accounts long257 tracked
66.5% long
Ratio 1.99171 long · 86 short
Value longby size
53.4% long
Ratio 1.15$6.48M$5.66M
Whales long$1.00M+ positions
67.8% long
2 long · 1 short
Coverage of PENDLE OItracked
38.7%
$12.14M tracked · $15.70M OI76.7% checked ≤ 15 min

PENDLE long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 66.5%1.99
Hyperliquid (tracked)position value 53.4%1.15
Binanceaccounts 49.9%1.00
Bybitaccounts 64.7%1.83
Binance top tradersposition value 67.5%2.08

By position size

tracked PENDLE positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K9647 67.1%$267K$95K 73.7%
$10K–$100K6126 70.1%$1.88M$978K 65.8%
$100K–$1M1212 50.0%$2.09M$3.52M 37.2%
$1M and up21 66.7%$2.25M$1.07M 67.8%

Largest tracked PENDLE positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x07fd…689d Long $1.20M 2.459 $75K — — 5× cross just now
0xfe7c…b7ae Short $1.07M 2.258 -$148K 36.654 +1297.47% 5× cross just now
0x0682…b571 Long $1.05M 2.025 $240K — — 5× cross 7 min ago
0x023a…2355 Short $667K 2.119 -$128K 53.848 +1952.99% 5× cross just now
0x71f1…14b0 Short $485K 1.460 -$215K 3.726 +42.04% 5× cross 1 min ago
0x8af7…fa05 Short $408K 5.503 $447K 118.62 +4422.38% 5× cross 1 min ago
0x7717…bd7e Short $390K 2.610 -$1,890 36.429 +1288.88% 5× cross just now
0xe86b…3664 Short $329K 2.543 -$9,957 18.084 +589.46% 5× cross just now
0xaf0f…e92e Long $262K 2.553 $7,010 — — 5× cross 1 min ago
0xc7e0…a6a3 Long $253K 2.600 $2,248 1.403 -46.49% 5× isolated just now
0x2edd…8179 Short $251K 2.110 -$49K 69.511 +2550.16% 5× cross just now
0x1c81…072d Long $232K 1.328 $115K 1.400 -46.62% 5× isolated 15 min ago
0x12a2…d9a8 Long $226K 2.542 $6,945 1.863 -28.98% 5× cross 6 min ago
0x3595…d69a Short $222K 2.497 -$11K 6.009 +129.09% 5× cross 27 min ago
0xf09c…eaed Long $192K 1.871 $55K — — 5× cross 6 min ago
0x94da…c449 Short $188K 2.508 -$8,246 14.572 +455.57% 3× cross 3 min ago
0x47f5…b942 Short $182K 1.777 -$59K 24.823 +846.39% 5× cross just now
0xf324…8af0 Short $174K 1.573 -$70K 4.141 +57.88% 5× cross 3 min ago
0x563b…7dc4 Long $164K 2.560 $3,939 — — 5× cross 9 min ago
0xf9fc…b1d0 Long $146K 2.680 -$3,183 — — 2× cross 10 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.6% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.36B60 s60 s
B3,0003,000$2.98B15 min29 min
C45,5106,845$343.87M4 h14 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 PENDLE 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.

PENDLE Hyperliquid long/short ratio FAQ

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

The tracked PENDLE positions add up to 38.7% of PENDLE'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.