GET /liquidations/{coin}

GET /liquidations/{coin}

$0.03 USDC Model estimate

Where liquidations would cluster if open interest were spread across leverage tiers the way the model assumes. This is a model, not observed liquidations: Hyperliquid publishes no per-leverage open interest, so the shares per tier are assumptions, stated in meta.assumptions.

How it is built: every position is assumed to have entered at the 24-hour VWAP. For each leverage tier from 3x up to the market’s maximum leverage, the liquidation price follows Hyperliquid’s isolated-margin rule with its maintenance margin of 1 / (2 × max leverage). The USD open interest is split 50:50 between longs and shorts (every perp position has a counterparty) and across the tiers by the assumed shares.

Request

GET https://api.cerebruspulse.xyz/liquidations/{coin}

Path Parameters

Parameter	Type	Required	Description
coin	string	Yes	Market symbol, case-insensitive (BTC, ETH, SOL). GET /coins lists them.

Response

Field	Type	Description
endpoint	string	liquidations
coin	string	The symbol, upper-case
market_symbol	string	Hyperliquid’s name for the market (kPEPE for PEPE)
price_unit	string	What prices are quoted per: 1 BTC, or 1000 PEPE for a 1000-token market
timestamp_iso	string	When the response was computed (UTC)
model_estimate	boolean	true: every figure below is modelled
price	number	Hyperliquid mid price
liquidation_zones.longs[].price	number	Liquidation price of long positions at this tier, below the current price (5 significant figures)
liquidation_zones.longs[].leverage	string	The tier, e.g. 25x
liquidation_zones.longs[].estimated_liq_usd	number	USD open interest the model places at this tier on this side
liquidation_zones.longs[].proximity_pct	number	Distance from the current price, in percent. Zones are sorted nearest first
liquidation_zones.shorts[].price	number	Liquidation price of short positions at this tier, above the current price
liquidation_zones.shorts[].leverage	string	The tier
liquidation_zones.shorts[].estimated_liq_usd	number	USD open interest placed at this tier on this side
liquidation_zones.shorts[].proximity_pct	number	Distance from the current price, in percent
summary.cascade_risk	string	From the nearest zone’s distance: EXTREME (< 1%), HIGH (< 2%), MODERATE (< 5%), LOW, or UNKNOWN with no zone
summary.total_oi_usd	number	Open interest in USD: contracts × price
summary.long_short_ratio	string	Always 50:50: open interest is equal on both sides of a perp
summary.total_at_risk_5pct	number	Modelled USD in zones within 5% of the price
summary.nearest_cluster.side	string	long or short
summary.nearest_cluster.price	number	The nearest zone’s price
summary.nearest_cluster.distance_pct	number	Its distance in percent
summary.nearest_cluster.estimated_volume	number	Its modelled USD. nearest_cluster is null when there is no zone
meta	object	Common metadata (Response Schemas)
meta.offering	string	pulse_liquidations
meta.methodology	string	The model in one sentence
meta.assumptions.max_leverage	number	The market’s maximum leverage on Hyperliquid
meta.assumptions.maintenance_margin_rate	number	1 / (2 × max_leverage)
meta.assumptions.assumed_oi_share_by_leverage.<leverage>	number	The assumed share of open interest per tier (3x, 5x, 10x, 25x, 50x, up to the maximum), summing to 1
meta.assumptions.entry_price	number	The 24-hour VWAP used as every position’s entry
meta.assumptions.long_short_split	string	50:50, with the reason

Example

GET /liquidations/BTC: real engine output on market data captured at 2026-09-24 17:05 UTC. Lists are cut to 3 items. Live responses may also carry meta.disclaimer, which the gateway adds.

{
  "endpoint": "liquidations",
  "coin": "BTC",
  "market_symbol": "BTC",
  "price_unit": "1 BTC",
  "timestamp_iso": "2026-09-24T17:05:00Z",
  "model_estimate": true,
  "price": 84512.5,
  "liquidation_zones": {
    "longs": [
      {
        "price": 81670,
        "leverage": "25x",
        "estimated_liq_usd": 462159554,
        "proximity_pct": 3.36
      },
      {
        "price": 76566,
        "leverage": "10x",
        "estimated_liq_usd": 554491646,
        "proximity_pct": 9.4
      },
      {
        "price": 68059,
        "leverage": "5x",
        "estimated_liq_usd": 462159554,
        "proximity_pct": 19.47
      }
    ],
    "shorts": [
      {
        "price": 86292,
        "leverage": "25x",
        "estimated_liq_usd": 462159554,
        "proximity_pct": 2.11
      },
      {
        "price": 91270,
        "leverage": "10x",
        "estimated_liq_usd": 554491646,
        "proximity_pct": 8
      },
      {
        "price": 99567,
        "leverage": "5x",
        "estimated_liq_usd": 462159554,
        "proximity_pct": 17.81
      }
    ]
  },
  "summary": {
    "cascade_risk": "MODERATE",
    "total_oi_usd": 3327282606,
    "long_short_ratio": "50:50",
    "total_at_risk_5pct": 924319108,
    "nearest_cluster": {
      "side": "short",
      "price": 86292,
      "distance_pct": 2.11,
      "estimated_volume": 462159554
    }
  },
  "meta": {
    "provider": "Cerebrus Pulse",
    "offering": "pulse_liquidations",
    "execution_ms": 0,
    "data_age_seconds": 60,
    "methodology": "model estimate, not observed liquidations: assumed leverage tiers and OI shares, Hyperliquid maintenance margin 1/(2*maxLeverage), 24h VWAP as entry",
    "assumptions": {
      "max_leverage": 40,
      "maintenance_margin_rate": 0.0125,
      "assumed_oi_share_by_leverage": {
        "3x": 0.1111,
        "5x": 0.2778,
        "10x": 0.3333,
        "25x": 0.2778
      },
      "entry_price": 84010,
      "long_short_split": "50:50 (open interest is equal on both sides of a perp)"
    },
    "as_of": {
      "market_data": "2026-09-24T17:04:00Z",
      "candles_1h": "2026-09-24T17:00:00Z"
    },
    "sources": [
      {
        "name": "Hyperliquid",
        "url": "https://hyperliquid.xyz"
      }
    ]
  }
}

Errors

Status	Reason
400	No price, open interest or maximum leverage for the market (not charged)
402	Payment required (the standard x402 flow)
404	Unknown coin (before any price is quoted)
429	Rate limit exceeded
503	Service disabled, payments down, or an upstream feed is missing or stale; no price is quoted
504	Engine timeout (not charged)