HL Book

Markets

Where the risk is

directional = market makers stripped out · crowded = directional skew vs everyone's skew
CoinLongShortSkewDirectional skew−5% liquidates+5% liquidatesLargest holderPos
BTC$1.50B$1.49B+0%+0%$40.39M$93.37M0x5b5d…c060short$171.49M12780
ETH$1.30B$1.37B-3%-3%$137.99M$40.68M0x5b5d…c060short$270.37M7880
HYPE$939.15M$792.76M+8%+7%$1.10M$1.94M0x082e…ca88long$128.23M7837
ZEC$352.20M$365.93M-2%-1%$7.23M$219.9K0x92ea…50e9short$54.99M6011
SOL$303.77M$314.20M-2%+3%$1.87M$1.39M0x5b5d…c060short$80.91M5692
NEAR$131.89M$142.74M-4%-17%$0$1.86M0x7737…bf66long$24.73M4239
XRP$103.50M$106.03M-1%+5%$898.8K$5.23M0x31b1…1434long$49.27M3224
LIT$98.47M$88.15M+6%+2%$63.9K$00x9321…d75along$23.76M1927
PUMP$68.49M$69.70M-1%-0%$65.7K$5,9360x5b5d…c060short$13.73M2689
ENA$42.51M$42.75M-0%+2%$0$497.5K0xfe7c…b7aeshort$5.84M2935
UNI$41.21M$38.09M+4%+0%$200.2K$43.9K0xfe7c…b7aeshort$7.62M2978
AAVE$34.86M$34.04M+1%-0%$54.2K$9,0940x3ee5…4fablong$5.93M2052
XMR$34.00M$33.46M+1%-3%$40.0K$7,2330xc179…e0c8long$5.95M1563
DOGE$30.95M$31.75M-1%+2%$94.0K$10.7K0x610b…b613long$8.57M2499
LINK$31.87M$30.79M+2%+5%$12.5K$14.2K0xc63a…a3cdlong$5.55M2148
VVV$28.60M$29.56M-2%-3%$0$5550x3dc9…54b0short$3.00M2255
XPL$25.69M$25.59M+0%+1%$489.3K$00x023a…2355short$3.37M1100
TAO$24.68M$25.89M-2%-5%$0$5,3660xfe7c…b7aeshort$6.11M2389
WLD$25.02M$24.99M+0%-10%$0$20.1K0x77ee…2902long$4.56M1871
PONS$23.21M$26.27M-6%-4%$1,583$00x936c…bb0fshort$6.08M1945
CASHCAT$22.72M$23.97M-3%-3%$126.6K$8,5620xefe4…194bshort$7.75M1597
SUI$22.87M$23.55M-1%+4%$207$55.3K0x5396…8b79long$7.61M2380
kPEPE$20.66M$22.82M-5%-10%$110.9K$6,9790xfe7c…b7aeshort$4.07M1247
BNB$18.70M$17.92M+2%+0%$51.1K$20.3K0xcac1…26b3long$2.12M2139
ADA$18.46M$17.90M+2%+50% crowded$4,893$25.4K0xc63a…a3cdlong$5.27M1819
ZRO$17.53M$17.71M-0%-0%$0$4490x08c1…1135long$6.01M732
ONDO$15.44M$16.02M-2%+1%$97.9K$23.2K0xc63a…a3cdlong$5.64M2239
FARTCOIN$14.69M$15.60M-3%-3%$0$99.4K0x5b5d…c060short$3.82M1047
LTC$14.89M$15.38M-2%-8%$8,239$17.8K0xeadc…9d55long$2.93M1946
MON$15.25M$14.92M+1%-6%0x45ab…6cbclong$3.49M736
ARB$14.24M$15.70M-5%-5%$142.5K$85.4K0x023a…2355short$2.84M2395
AVAX$13.37M$14.15M-3%+10%$54.4K$277.6K0xeadc…9d55long$3.41M2422
GRAM$13.36M$13.42M-0%-7%0xeadc…9d55long$2.80M641
INJ$13.15M$12.82M+1%+11%$0$37.0K0x30af…393elong$12.11M1658
AERO$10.25M$10.80M-3%-2%$0$590xfdf8…e381long$3.65M883
ASTER$9.78M$8.99M+4%-1%0xeadc…9d55long$2.20M1666
ETHFI$9.24M$8.99M+1%+1%0xe6e0…ae71long$1.39M1547
CRV$7.05M$9.38M-14%-15%$0$4,7890x5647…e7deshort$809.7K884
STRK$7.84M$8.57M-4%+6%$0$6,1570xd978…2fd9long$2.04M887
PAXG$7.17M$8.43M-8%-15%$9,411$3,1670x781e…96b7short$2.86M1228
JUP$6.27M$6.69M-3%-15%$7,635$193.6K0x0748…d4b2long$1.39M1640
GRASS$6.07M$6.26M-2%-7%0xfdf8…e381long$1.84M432
CHIP$6.12M$6.21M-1%-12%0x64b7…9da9long$863.5K563
PURR$6.26M$5.53M+6%-3%0xea00…a918long$1.22M535
TRX$5.64M$6.03M-3%-3%$0$85.3K0xeadc…9d55long$1.72M1436
FIL$5.60M$5.74M-1%-1%$2,608$00xdfb6…294dlong$1.53M1422
TRUMP$4.85M$5.79M-9%-16%$42.8K$9,2370x123d…3bfflong$1.53M1377
WLFI$5.30M$5.17M+1%+35% crowded0x5f94…4b96short$2.03M1223
USELESS$4.96M$5.04M-1%+4%$1,844$00x023a…2355short$775.2K658
LDO$5.38M$4.32M+11%-2%0x07fd…689dlong$1.23M475
PENDLE$4.72M$4.90M-2%-14%0x0682…b571long$1.05M712
kBONK$3.90M$4.10M-3%-1%$12.5K$5480xeadc…9d55long$1.51M429
XLM$3.72M$3.87M-2%-17%0x07fd…689dlong$795.2K1458
HBAR$3.57M$3.81M-3%-14%$0$7,1330xeadc…9d55long$876.1K1360
VIRTUAL$3.47M$3.78M-4%-5%0x0afb…8930long$1.38M566
FET$3.12M$3.52M-6%-6%$0$7,4400xeadc…9d55long$1.02M562
JTO$2.57M$3.60M-17%-23% crowded$377.1K$640x7717…bd7eshort$520.3K628
SPX$2.83M$3.28M-7%-7%0xec4a…cf62long$1.11M491
MEGA$3.02M$2.84M+3%-22% crowded0x64b7…9da9long$1.22M317
PENGU$2.75M$3.09M-6%-5%0x7345…b404short$510.8K1396
MNT$2.71M$2.47M+5%+5%0xeadc…9d55long$1.86M965
BCH$2.47M$2.66M-4%-1%$1,498$990xec0b…b078long$587.1K1351
MORPHO$2.54M$2.37M+4%+23% crowded$5,509$00x5f94…4b96short$502.9K1333
WIF$2.31M$2.45M-3%-1%0xeadc…9d55long$1.45M397
SYRUP$2.22M$2.48M-5%-15%0xfe7c…b7aeshort$509.6K325
CC$1.93M$2.35M-10%-10%0x2171…887blong$616.4K1010
DOT$2.02M$2.18M-4%+13%$0$1490x5f94…4b96short$828.9K1345
POL$1.96M$2.13M-4%-48% crowded0x07fd…689dlong$1.20M1204
APT$1.63M$2.23M-16%-7%$808$51.3K0x07fd…689dshort$369.8K1389
OP$1.84M$2.01M-4%+35% crowded$0$25.1K0x07fd…689dshort$683.6K521
TIA$1.76M$2.06M-8%-34% crowded0x64b7…9da9long$1.01M444
EIGEN$1.62M$1.82M-6%-5%0xecb6…2b00short$464.7K373
AR$1.61M$1.81M-6%-5%$0$7,9230xcb58…2c7blong$776.2K514
ICP$1.43M$1.99M-16%-18%$0$5,3270x39c3…e959long$417.9K1186
MINA$1.49M$1.89M-12%+52% crowded0x07fd…689dshort$1.42M281
BOME$1.70M$1.67M+1%+1%0xd142…7d73long$864.3K264
DASH$1.44M$1.66M-7%-10%$30.1K$00x4c7a…0e30long$277.1K549
IMX$1.56M$1.53M+1%+1%0x153c…319along$849.2K255
MET$1.53M$1.54M-0%-0%0x8cc9…2b6ashort$439.2K367
kSHIB$1.42M$1.62M-7%-8%$6,875$260x153c…319along$541.5K431