Ethena (ENA) Liquidation Heatmap
Binance ENA/USDT liquidation heatmap
Estimated liquidation levels · 24H, 5m candles
Estimated liquidations if ENA moves
Ethena liquidations history
Daily longs (up) and shorts (down) on every tracked exchange
Ethena liquidation levels right now
With Ethena at $0.1643, the Binance 24H heatmap shows $816K of estimated short liquidations above the price and $3.5M of long liquidations below it. The largest short cluster sits at $0.1693 ($291K, +3.0%), then $0.1727 ($146K, +5.1%). The largest long cluster is at $0.1569 ($280K, −4.5%), then $0.1560 ($255K, −5.0%). A 5% drop to $0.1561 would run through about $2.9M of long liquidations; a 5% rise to $0.1726 would hit about $473K of shorts.
How to read the Ethena heatmap
- Bands: each band is an ENA price where leveraged positions are estimated to be liquidated. ENA trades below a dollar, so bands sit close together; hover for exact levels.
- Above and below the price: bands above price are short liquidations, bands below are long liquidations.
- Liquidation profile: the bars on the right show the open levels right now and how lopsided they are.
- Timeframes: compare the 24H view with 7D and 30D to see whether new leverage is piling in or old clusters are being cleared.
Where Ethena leverage sits
ENA leverage is split almost evenly between Binance and Hyperliquid, with about 20% and 19% of open interest in October 2026, followed by Gate and Bybit. The three heatmap venues cover about half the market, and checking Binance and Hyperliquid side by side shows whether centralised and on-chain traders are crowded on the same side.
Ethena is closely tied to the funding market. Its synthetic dollar earns from the perpetual basis, so periods of high positive funding tend to coincide with demand for ENA, and leverage on ENA itself was high, at about 22% of its market cap. When funding turns, ENA long clusters are often the first to be tested.
How traders use ENA liquidation levels
- Funding link: when market-wide funding is high and ENA long clusters are growing, the setup is crowded. A drop in funding often precedes a flush of those bands.
- Venue check: compare Binance and Hyperliquid. Clusters that line up on both are the ones most likely to matter.
- Size: with open interest above a fifth of market cap, moves through ENA clusters can be fast. Read the move table before adding leverage.
Ethena liquidation heatmap FAQ
Live answers use the Binance ENA heatmap (24H) · updated
Where are the biggest Ethena liquidation levels right now?
On the Binance 24H heatmap, the biggest short liquidation level above Ethena is $0.1693 ($291K, +3.0%) and the biggest long liquidation level below it is $0.1569 ($280K, −4.5%). Ethena was trading at $0.1643. See the key levels table for the rest.
How much ENA would be liquidated if the price falls 5%?
About $2.9M of estimated long liquidations sit between $0.1643 and $0.1561. A 1% drop would trigger about $311K, 2% about $1.3M and 3% about $1.9M. These are Binance estimates; the market-wide total is larger.
How much ENA would be liquidated if the price rises 5%?
About $473K of estimated short liquidations sit between $0.1643 and $0.1726. A 1% rise would trigger about $0, 2% about $0 and 3% about $0. These are Binance estimates; the market-wide total is larger.
How much ENA was liquidated in the last 24 hours?
$1.4M of ENA positions were liquidated across tracked exchanges in the last 24 hours: $1.2M longs and $220K shorts. The past hour saw $141. Live events are on the liquidations page.
Why does funding matter for the Ethena heatmap?
Ethena's synthetic dollar earns yield from the perpetual basis, so ENA demand tends to rise with funding rates. When funding falls, crowded ENA longs are often the first leverage to be liquidated.
Where is ENA leverage traded?
Mostly on Binance and Hyperliquid, with about 20% and 19% of ENA perpetual open interest in October 2026, then Gate at about 16% and Bybit at 12%.
What is a Ethena liquidation heatmap?
A Ethena liquidation heatmap shows the price levels where leveraged ENA perpetual futures positions are estimated to be liquidated. Bright bands mark large clusters of liquidation levels. Bands above the price are short liquidations and bands below are long liquidations.
What is the difference between a liquidation heatmap and a liquidation map?
A liquidation heatmap shows how estimated liquidation levels build up and get cleared over time, with price candles on top. A liquidation map is a single snapshot of the levels that are still open, by price. This page shows both: the heatmap, and the liquidation profile on its right edge.
How accurate is the Ethena liquidation heatmap?
It is an estimate. Exchanges do not publish each position's liquidation price, so the levels are modelled from exchange data. Cluster locations are more reliable than cluster sizes, which depend on the model and differ between data providers. The heatmap does not see low-leverage positions, hidden orders or spot, options and ETF flows, and in fast markets it can lag a few minutes behind price.
Why does price move toward liquidation clusters?
Each liquidation is a forced market order. When price reaches a large cluster, the exchange closes those positions at market, which pushes price further in the same direction and can trigger the next cluster. Large traders know where this liquidity sits, which is why clusters often act as magnets for wicks and stop hunts.
Which timeframe should I use?
The 12H and 24H views show the levels built by recent intraday positions and suit short-term trading. The 7D and 30D views show older clusters that have survived several sessions, which tend to matter more for swing trades. Clusters that stay bright across several timeframes are the most significant.
Can the Ethena liquidation heatmap predict price?
No. It shows where forced buying or selling would start, not whether price will get there. Combine it with funding rates, open interest and the long/short ratio. Coinperps does not give trading advice.
More liquidation heatmaps
Liquidation levels are estimates modelled from exchange data and refresh every few minutes. Not financial advice. Methodology