Binance 42% of $294.5M Liq; Hyperliquid 96% Longs

Binance handled 42% of the $294.5 million liquidated across major exchanges in the past 24 hours, but the most extreme long squeeze showed up on Hyperliquid, where longs accounted for 96.3% of the venue's $29.8 million total. Every platform in the sample posted a long-heavy book, yet the degree of skew varied sharply between venues. The concentration itself is a signal: the flush hit the biggest books hardest and left the smallest venues with a different risk profile.

Binance and OKX Carry the Bulk

Binance cleared $125.1 million in liquidations, of which $100.6 million came from long positions, a long share of 80.4%. OKX ranked second with $66 million, also long-dominated at 76.3%. The two largest venues combined for roughly 65% of the entire 24-hour total, which means the flush was concentrated in the deepest liquidity pools rather than scattered across smaller books. In the last hour alone, longs added another $2.37 million in liquidations against $1.22 million from shorts, keeping the directional pressure one-sided into the early Asian session.

Hyperliquid's 96.3% Long Share Stands Out

Hyperliquid reported $29.8 million in liquidations with only $1.12 million from shorts, a long share of 96.3% that tops every other exchange by a wide margin. Bybit (77.1%), Gate (81.9%) and Bitget (84.2%) all showed long-heavy books, but none approached Hyperliquid's concentration. A venue that posts a near-total long share suggests the leveraged longs built there were especially crowded heading into this move, and a crowd that size is harder to unwind quietly. The single largest Hyperliquid print was a $1.75 million SOL long, followed by two BTC longs near $1.7 million, all wiped within the same hour.

What the Skew Means for Position Builds

Across the full sample, longs paid roughly 81% of the $294.5 million total, while shorts contributed $56.2 million. The 12-hour window tells a sharper story: $179 million of liquidations in that span were 86% longs, meaning most of the long flush happened in the last twelve hours instead of spreading evenly across the day. For traders, the practical read is that leverage built on longs over the past day is being unwound unevenly, and the venues with the highest long concentration, Hyperliquid first, are the ones to watch if the flush extends. A repeat of the pattern would show up as another long-heavy hour on those books before it shows up in the aggregate headline number.

Data covers the 24 hours to 08:46 Beijing time on September 2, 2026, across Binance, OKX, Hyperliquid, Bybit, Gate, Bitget, HTX, Aster and Lighter, sourced from exchange liquidation feeds.