Zcash (ZEC) Liquidation Heatmap

Zcash liquidation levels right now

With Zcash at $903.14, the Hyperliquid 24H heatmap shows $28.9M of estimated short liquidations above the price and $41.3M of long liquidations below it. The largest short cluster sits at $956.67 ($2.3M, +5.9%), then $965.47 ($1.3M, +6.9%). The largest long cluster is at $836.88 ($2.2M, −7.3%), then $805.01 ($1.6M, −10.9%). A 5% drop to $857.98 would run through about $6.3M of long liquidations; a 5% rise to $948.30 would hit about $9.3M of shorts.

What the Zcash liquidation heatmap shows

The Zcash liquidation heatmap maps the ZEC prices where leveraged perpetual futures positions are estimated to be force-closed. An exchange liquidates a position once its losses have eaten the margin posted against it, and it closes the position at market.

Forced closes add to the move that caused them. A liquidated long is sold at market and a liquidated short is bought back, so one cluster of ZEC liquidations can carry price into the next. ZEC order books are thinner than Bitcoin’s, which means a cluster of the same dollar size moves price further.

This page opens on the Hyperliquid ZEC-USD perpetual, where the modelled ZEC levels are densest. Binance ZEC/USDT and Bybit ZEC/USDT are one click away above the chart. Every market and timeframe is free to use with no login.

How to read the Zcash liquidation heatmap

• Bands: every horizontal band marks a ZEC price. Its colour is the estimated dollar value of the positions liquidated at that price, running from dark for small amounts to bright yellow and orange for the largest.
• Above and below the price: bands above the current ZEC price are shorts that a rally would squeeze. Bands below it are longs that a drop would flush.
• Liquidation profile: the bars at the right edge total the levels still open at each price, red for short liquidations and green for long liquidations. It is the view a liquidation map gives.
• Timeframes: ZEC moves fast, so the 12H and 24H views can span a wide price range and change quickly. The 7D, 30D and 90D views keep only the clusters that have survived several sessions, and those tend to matter more.

How the Zcash liquidation heatmap is calculated

Exchanges do not publish the liquidation price of each position, so the heatmap is an estimate. The model takes exchange market data for the ZEC perpetual and applies the leverage amounts traders commonly use. At 10x a position is liquidated after a move of roughly 10% against it, at 20x roughly 5% and at 50x roughly 2%.

Those distances matter more for Zcash than for the majors. ZEC often moves 5% or more in a day, so positions at 20x and above are regularly within reach of a single session.

Estimated levels stack into price bands, and a band brightens as more dollars build up there. Once ZEC trades through a band its positions count as liquidated and the band clears. Each venue is modelled separately, so the picture changes when you switch market. Trust where the clusters sit more than how large they look, because sizes depend on the model and differ between data providers.

Where Zcash leverage sits

Zcash is a proof-of-work privacy coin with a 21 million supply cap, Bitcoin-style halvings and optional shielded transactions. Interest in it arrives in bursts around the privacy narrative, and leverage builds quickly when it does. ZEC perpetual open interest is a much larger share of its market cap than Bitcoin’s, and ZEC typically moves two to three times as far in a day, so price reaches its clusters far more often.

Binance is usually the largest venue for ZEC open interest, with Hyperliquid close behind. Gate also holds a large share and Bybit a smaller one. The heatmap models Binance, Bybit and Hyperliquid, so positions on Gate and the other venues are missing from the chart. The current split is on the open interest page, and the panel above shows liquidations by exchange.

ZEC liquidations hit both sides. Shorts that fade a privacy rally are squeezed when it extends, and longs that chase it are flushed on the pullback, so neither half of the heatmap can be ignored. Live ZEC funding, open interest and volume are on the ZEC perpetuals page.

How traders use Zcash liquidation levels

• Magnets: big clusters that price has not yet swept tend to pull ZEC towards them, because the forced orders there give large traders liquidity to trade against. The pull is strongest when funding is stretched on the same side.
• Cross-venue confirmation: ZEC leverage is split between Binance and Hyperliquid. A cluster that shows up at the same price on both is worth more attention than one that appears on a single venue.
• Wide stops: at ZEC’s volatility a level 5% away is close. Read the ±3% and ±5% cells of the move table, and keep your own liquidation price beyond the nearest bright band.