• Front lineBTC mark price (median of Binance, Bybit, OKX, Hyperliquid), tagged on the right. Shorts dig in above it, longs below.
• TracersEvery taker trade on Binance, Bybit, OKX, Hyperliquid, Bitget, Gate, MEXC, KuCoin and the on-chain perps (Aster, Lighter, Pacifica, Extended). Buyers fire up at the shorts, sellers fire down at the longs; bigger trades fly further. Trades of $100K+ are labelled.
• SpotUnder the perps flow: spot buying and selling on Binance, Coinbase, Kraken, Bybit and OKX over the last minute. Spot has no leverage and no liquidations, so it stays off the battle, but it is what moves the index the mark price follows. CB is the Coinbase premium: Coinbase's price against Binance spot, positive when US buyers are paying up.
• HeatThe background: estimated liquidation leverage per $100 of price, with every timeframe from 12 hours to 3 months merged into one map: the largest value across the liquidation models, over the lookbacks since price last traded through each level. Hover a level for the breakdown. The map shows the range picked in the leverage panel (its default depends on the coin), ±1% to ±10%.
• MinesThe heaviest levels within reach, up to four a side; reach follows the last 4 hours' range, so quiet markets keep them close. A breached minefield stays spent for 45 minutes. They blink fast once price is within 0.5%. When the front crosses one, the liquidations that follow are counted against it. Each side is weighed on its own, so a lighter side still gets its minefields.
• Hot zoneEvery other cluster on screen that glows — at least a quarter as bright as the brightest level in view — gets a dashed card, biggest first, as many as the column has room for; the hottest one on each side is tagged HOT ZONE. Zoomed out, clusters whose cards would overlap share one card that says how many bands it adds up.
• CoveredThe chip on a cluster's label: the orders resting where it would liquidate into (down to the next cluster or half a percent), divided by its estimated liquidations, from the aggregated books of about 40 venues. Green (1.05× and up) the book can absorb it; red (under 0.95×) the liquidations outrun the orders and the move feeds itself; grey is the line between.
• Support & resistanceThe panel under the leverage gauge: the asks resting above the price (resistance) and the bids below (support) within the board's range, across the spot and perp books CLOBr aggregates, and which side is heavier by how much. Walls are the biggest single orders inside these totals.
• Pop-upsEvery liquidation from Binance, Bybit, OKX, Hyperliquid, Aster, Lighter, Pacifica and Extended as the venue reports it, plus Bitget, MEXC and the other major exchanges through an aggregated feed.
• ~ Pop-upsEstimates, shown fainter. Liquidations counted across all exchanges this hour that the live feeds never reported one by one, plus heat that price just ran through (scaled to the 24h total). Never counted as confirmed.
• Depth stripThe bars beside the price axis: the orders resting at every 0.1% of price, bids in green below the price and asks in red above it, summed across the ~40 spot, perp and on-chain books CLOBr aggregates. Bars are scaled to the fattest one on screen (the figure in the caption). It is the floor the sandbags stand on: a wall is one stack on one book; the bars are everyone's orders at that height. Hover a cluster and the strip brackets the orders its cover was counted from.
• SandbagsThe biggest resting order walls ($8M+): buy walls below the price, sell walls above it, read live from the order books of Binance, Bybit, OKX and Hyperliquid perps and Binance, OKX, Coinbase and Kraken spot, for every coin on the board. Hollow sandbags are under a minute old; the chips say how long a wall has stood and how often price came to it and it held; an amber frame means it keeps refilling. When one goes, the board says whether it was pulled, eaten or moved. Hover a wall for its split by book.
• RUSH burnAn air strike from the sponsor: each official RUSH burn by the SatRush buyback engine or treasury, seen on-chain as it happens.
• TroopsOpen interest across every major exchange (the label says which figure is shown), with its 1h change; funding is the average of the venues we stream (Binance, Bybit, OKX, Hyperliquid and the on-chain perps) weighted by their open interest; the split bar is the share of accounts net long across Binance, Bybit, OKX, Bitget and Hyperliquid, each exchange weighted by its open interest (hover the figure for the venues). Open interest on those venues up or down 0.6% in 5 minutes sends in reinforcements or a mass retreat.
• Skirmish$250K+ of one side liquidated within a minute. $2M+ is a cascade.
• ReplayClick any dispatch, kill-feed line or the 24h strip under the map to watch that moment again. Replays can be shared as links or saved as video clips.
• GeneralsThe largest Hyperliquid BTC positions at their liquidation price. The ring is distance to liquidation.

Binance only publishes one liquidation per second, so its count runs low during cascades.