Aster Longs Paid 72% While Market Culls Shorts
Aster: the lone long-heavy liquidation venue
The liquidation tape for the past 24 hours tells a lopsided story. Across the major venues $450.3 million in positions were wiped, and $273.9 million of that came from the short side, or 60.8%. ETH led with $186.8 million in total liquidations, BTC followed at $115.5 million. Most exchanges fed that trend: Binance showed 61% shorts, OKX 62%, Gate a heavier 74.8%, Bitget 69.6%, and Hyperliquid 61.1%.
Aster sat on the opposite side. Its $17.6 million in liquidations split as $12.6 million longs against $5.0 million shorts, so long positions accounted for 71.6% of the damage there. No other exchange in the top tier posted a long-heavy ratio anywhere close to that.
One minute, two big longs: $6.95M ETH and $4.54M BTC
The pattern is easier to read when you look at the largest single liquidations. At 18:26 Beijing time an ETH long worth $6.95 million and a BTC long worth $4.54 million were wiped on Aster within the same minute. Both came right after ETH had been bid up from a 24-hour low of $2,431 toward $2,578, a range that left late longs exposed when the tape reversed.
Contrast that with the flagship venues. The biggest single wipe of the window was a $12.5 million ETH short on Binance, and the largest OKX print was also a short, $3.8 million. The same up-move that was liquidating shorts on Binance and OKX was, on Aster, catching longs who had chased the momentum.
What the divergence means for positioning
When one venue prints the opposite liquidation skew from the whole market, it usually points to a specific cohort of traders rather than a change in direction. The long-heavy wipe on Aster looks like leveraged momentum buyers who entered late in the rally, then got caught when ETH pulled back roughly 3% from its high. Their pain shows up in the data as a counter-skew, not as a market-wide shift.
For a trader the useful takeaway is to check liquidation data per venue before assuming everyone is on the same side. A 60% short-heavy market can still hide a venue where 70% of the casualties are longs, and that is exactly where late, high-leverage entries tend to surface first.
Data as of 19:52 Beijing time, covering Binance, OKX, Bybit, Gate, Hyperliquid, Bitget and Aster across major perpetual venues.