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W Long/Short Ratio (Hyperliquid)

How W 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.

43.9% of the 123 tracked Hyperliquid W positions are long (long/short ratio 0.78). By value, longs hold 50.7% ($2.38M long vs $2.31M short).

45,572 positions in 10,395 tracked walletsHyperliquid native perpsRefreshed every 2 minAs of 02:25 UTC

Accounts long123 tracked
43.9% long
Ratio 0.7854 long · 69 short
Value longby size
50.7% long
Ratio 1.03$2.38M$2.31M
Whales long$1.00M+ positions
—
0 long · 0 short
Coverage of W OItracked
45.7%
$4.69M tracked · $5.13M OI67.7% checked ≤ 15 min

W long/short: Hyperliquid vs Binance and Bybit

share long
SourceCountsShare longRatio
Hyperliquid (tracked)accounts 43.9%0.78
Hyperliquid (tracked)position value 50.7%1.03
Binanceaccounts 61.7%1.61
Bybitaccounts 65.5%1.90
Binance top tradersposition value 55.4%1.24

By position size

tracked W positions at the mark price
Position sizeLongShortAccounts longLong valueShort valueValue long
Under $10K3250 39.0%$52K$85K 37.7%
$10K–$100K1615 51.6%$630K$586K 51.8%
$100K–$1M64 60.0%$1.70M$1.64M 50.8%
$1M and up00—$0$0—

Largest tracked W positions

top 20 by size · all coins
WalletSideSizeEntryUnrealised PnLLiq. priceDistanceLeverageChecked
0xeadc…9d55 Long $890K 0.01143 $205K — — 5× cross just now
0x07fd…689d Short $849K 0.01258 -$129K 0.1275 +759.01% 5× cross 1 min ago
0x7717…bd7e Short $522K 0.01403 -$28K 0.1676 +1029.59% 5× cross 1 min ago
0x8be0…326c Long $323K 0.01420 $14K — — 5× cross 22 min ago
0xd6e5…5b42 Short $170K 0.02472 $113K 0.4551 +2966.76% 5× cross 1 min ago
0x387c…0c19 Long $155K 0.1020 -$908K 0.005789 -60.99% 2× cross 7 h ago
0x5740…a9da Long $119K 0.01368 $9,286 — — 5× cross 26 min ago
0xfd9f…8aeb Long $105K 0.01209 $19K 0.007737 -47.86% 5× cross 20 min ago
0xeafe…d739 Long $104K 0.01308 $12K — — 5× cross 29 min ago
0xac29…9f44 Short $101K 0.01510 $1,765 0.02530 +70.46% 5× cross 5 min ago
0xc179…e0c8 Short $97K 0.01515 $2,034 1.643 +10969.28% 5× cross just now
0xa6b0…8030 Short $95K 0.01553 $4,435 0.03048 +105.38% 5× cross 29 min ago
0xeb0f…4637 Long $93K 0.01578 -$5,912 0.01166 -21.41% 3× isolated 22 min ago
0x1856…08ae Short $91K 0.01517 $2,021 0.1555 +947.75% 5× cross 16 min ago
0x1a94…a538 Long $72K 0.01310 $8,458 — — 5× cross 11 min ago
0x1ebc…09bf Long $60K 0.01237 $9,917 — — 5× cross 8 min ago
0x44c9…277c Long $58K 0.01013 $18K — — 5× cross 22 min ago
0xc9d4…dca1 Long $51K 0.01466 $619 — — 3× cross 6 h ago
0x31ca…974b Short $51K 0.01532 $1,641 0.8699 +5761.82% 20× cross 17 min ago
0x8df9…f305 Long $50K 0.01492 -$268 — — 5× cross 6 min ago

Tracker coverage and freshness

all Hyperliquid perps · 44.6% of OI
TierWalletsWith positionsTracked valueTarget cycleActual cycle
A300300$8.34B60 s60 s
B3,0003,000$2.96B15 min29 min
C45,9207,098$352.19M4 h15 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); 37.7% 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 W 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.

W Hyperliquid long/short ratio FAQ

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

The tracked W positions add up to 45.7% of W'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.