Glossary

Say you read that whales lean short and a wall sits 3% below the price, and one word stops you. Here is every term WhaleRadar uses, each with a one-line definition and the guide that goes deeper.

Whale

A whale is a wallet among the largest on Hyperliquid, about a thousand accounts by size plus the most active smaller ones, with a position of $1M or more. Why positions count, not volume

Whale position

A whale position is a position of $1M or more held by one of those wallets. Whale money is the value of such positions added up.

Lean and split

Whales lean long or short in a market when that side holds 53% or more of the whale money. Below that they are split.

Track record

The track record is a score from 0 to 100 for how consistently a wallet has traded, from its results on Hyperliquid and not from its size. The track-record score

Directional, market maker, hedge

A directional wallet bets on the price, a market maker quotes both sides, a hedge offsets a position held elsewhere, and a wallet whose pattern is unclear stays unclassified. Why wallets are labelled

Liquidation price

The liquidation price is the price at which Hyperliquid closes a leveraged position by force, and Hyperliquid publishes it for every position.

Distance to liquidation

Distance to liquidation is how far the price has to move, in percent, before a position is closed by force. Distance to liquidation

Near liquidation

Near liquidation is the whale money that sits within 5% of its liquidation price.

Liquidation wall

A liquidation wall is much whale money that would be liquidated at one price, from one whale or more. Liquidation walls, explained

Under water

Under water is the share of directional whale money that is at a loss at the current price. Under water and near liquidation

Whale Tide

The Whale Tide is one number from 0 (all short) to 100 (all long) for where directional whales with a track record put their money, weighted by that record, with one close a day at 00:00 UTC. The Whale Tide, explained

Move

A move is one change of a whale position: an open, an add, a trim, a close, a flip or a liquidation. Moves or positions?

Pod

A pod is a group of tracked wallets that likely share one owner, linked by their public transfers. Whale names and pods

Whale name

A whale name such as Silent Leviathan is given by WhaleRadar to one wallet and never refers to a person.

Perpetual

A perpetual is a contract on a price that never expires, and every market on WhaleRadar is one.

Funding

Funding is the payment between longs and shorts that keeps a perpetual close to the price it follows. Hyperliquid funding rates

Open interest

Open interest is the value of all open positions in a market, every long matched by a short. Hyperliquid open interest

HIP-3

HIP-3 markets are the perpetuals on gold, oil, stocks, indices and currencies that trade on Hyperliquid around the clock. HIP-3, explained

Whale Street

Whale Street is what whales do in those markets while the home exchange of each is closed, overnight and at the weekend.

The Read

The Read is the short summary in plain words on every market page of where its whales stand.