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PONS Long/Short Ratio (Hyperliquid)

How PONS 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.

65.2% of the 491 tracked Hyperliquid PONS positions are long (long/short ratio 1.87). By value, longs hold 45.8% ($24.22M long vs $28.63M short). Positions of $1.00M or more are 27.3% long by value.

37,534 positions in 7,582 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 21:21 UTC

Accounts long491 tracked
65.2% long
Ratio 1.87320 long · 171 short
Value longby size
45.8% long
Ratio 0.85$24.22M$28.63M
Whales long$1.00M+ positions
27.3% long
4 long · 4 short
Coverage of PONS OItracked
43.4%
$52.85M tracked · $60.89M OI72.0% checked ≤ 15 min

PONS long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 65.2%1.87
Hyperliquid (tracked)position value 45.8%0.85
Binanceaccounts 59.2%1.45
Bybitaccounts 74.0%2.85
Binance top tradersposition value 68.8%2.21

By position size

tracked PONS positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K15484 64.7%$477K$186K 71.9%
$10K–$100K11952 69.6%$4.47M$1.96M 69.5%
$100K–$1M4331 58.1%$12.48M$8.35M 59.9%
$1M and up44 50.0%$6.80M$18.13M 27.3%

Largest tracked PONS positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0x936c…bb0f Short $8.00M 0.6273 $541K 2.268 +285.93% 2× cross just now
0xdd53…2b13 Short $6.18M 0.6251 $394K 3.498 +495.27% 3× cross just now
0x9321…d75a Long $2.94M 0.6233 -$178K — — 3× cross just now
0x0153…8052 Short $2.69M 0.7688 $831K 1.424 +142.38% 1× isolated 1 min ago
0x265e…7f70 Long $1.65M 0.7017 -$320K — — 2× cross 4 min ago
0x77ee…a018 Short $1.25M 0.5528 -$74K 1.521 +158.92% 3× cross 15 min ago
0x6b06…9b7c Long $1.18M 0.6217 -$68K — — 3× cross 2 min ago
0x0ad9…4cbf Long $1.04M 0.5676 $35K — — 2× cross 16 min ago
0x3382…0d82 Long $792K 0.6279 -$54K 0.1332 -77.34% 2× cross 17 min ago
0xcd06…3186 Short $780K 0.6058 $24K 2.189 +272.47% 2× cross 20 min ago
0x6859…7e1e Short $753K 0.3918 -$251K 2.344 +298.97% 3× cross just now
0x2e32…7d97 Long $708K 0.6550 -$81K — — 3× cross 7 min ago
0x09bc…bd0c Long $623K 0.6408 -$56K 0.5487 -6.61% 3× cross 10 min ago
0xd21a…5d65 Long $620K 0.6033 -$17K — — 2× cross 18 min ago
0x8607…08d5 Short $589K 0.6228 $35K 7.447 +1167.33% 3× cross just now
0xeadc…9d55 Long $588K 0.7078 -$120K — — 3× cross just now
0x6bb9…2d23 Short $588K 0.6443 $57K 2.344 +298.89% 3× cross 1 min ago
0x8ece…218b Long $560K 0.5313 $54K 0.1390 -76.35% 3× cross 10 min ago
0xf553…4f07 Long $518K 0.6254 -$33K 0.2934 -50.07% 3× cross 24 min ago
0xbbf7…4b13 Short $517K 0.6184 $27K 1.605 +173.17% 3× cross 2 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.1% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.39B60 s61 s
B3,0003,000$3.03B15 min29 min
C44,7914,275$279.33M4 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); 38.0% 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 PONS 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.

PONS Hyperliquid long/short ratio FAQ

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

The tracked PONS positions add up to 43.4% of PONS'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.