Liquidations on Hyperliquid

When the margin backing a position falls under the maintenance requirement, the protocol force-closes it to keep the account solvent. Liquidations are handled on-chain, and HLP absorbs part of the resulting flow.

Clusters of liquidations mark where leverage was concentrated and often coincide with the sharpest moves. The feed shows each forced closure with its size and notional value, so you can see which markets carried the risk.