Liquidity Map

The resting liquidity map: time left to right, price bottom to top; in the default Relative display brighter = more resting orders than usual at that distance from the price.

Live recording: pick a coin (ETH) and a range (6h), switch on the Persistent walls filter, hover the map to read a price row, then the Liquidity Tracker with H 25 bp and H 100 bp, the per-venue ladder and pull/stack. Dark vertical gaps are minutes that were not recorded — they are never filled in.

The Liquidity Map (app.formion.ai → Data Hub → Liquidity Map, /liquidity-map) shows where buyers and sellers had orders resting in the order books, minute by minute — summed across 11 markets, recorded by Formion and kept for 30 days. It replaces the old Heatmap and Agg Heatmap pages; their links now open the Liquidity Map.

Liquidity Map vs Liquidation Map

	Liquidity Map (this page)	Liquidation Map
What it is	Real resting limit orders that Formion records from 11 venues	A model estimate of where leveraged positions would be force-closed
What you see	Where orders sit now and where they sat before, in real USD	Where forced orders could appear if price gets there — sizes are relative strength, not dollars
Source	Order books of Binance, Bybit, OKX, Bitget (perp + spot), Coinbase, Hyperliquid, Deribit	Binance USDⓈ-M (optionally Bybit coin-margined), as today
Can it change?	Yes — any order can be pulled at any moment	Yes — the estimate moves as positions open and close

The Hyperliquid liquidation levels panel on this page is the exception that is real on both counts: they are the actual liquidation prices of open positions, but only of the Hyperliquid accounts we track, not the whole market.

Note

The Liquidity Map is a Context signal. It describes what was in the books — it does not predict price and it never gives an entry, stop or target. Resting orders can be pulled at any moment, and in book data a fill and a cancel look the same.

What is recorded

Coins	BTC, ETH, SOL and HYPE
Markets (11)	Binance perp + spot, Bybit perp + spot, OKX perp + spot, Bitget perp + spot, Coinbase, Hyperliquid, Deribit
How	Every order book is sampled every 5 seconds and averaged per minute; resting orders within ±5 % of price are kept
History	Recording since 2 Nov 2026, kept for 30 days. A range longer than what has been recorded shows only the recorded part (with the % covered) — empty areas are never filled in
Ranges	1h · 6h · 24h · 7d · 30d

The 7 panels

1. Resting liquidity map

Relative display (default): white / orange / red lines are price levels where far more orders rested than usual for their distance from the price; candles = traded price, bars at the bottom = traded volume.

• What it shows: time on the horizontal axis, price on the vertical axis; each cell is the resting liquidity at that price in that time bin. The candles are the traded price (wide, with a dark outline so they stay readable on bright rows) and the bars in their own strip under the map are the traded volume (taker buys + sells of the selected venues; the tallest few bins are clipped so one spike does not flatten the rest). The default view is the last 24 hours (it switches to 7 days once a full week has been recorded).
• Display — Relative (default) or Raw USD:
  • Raw USD colours each cell by the resting dollars as recorded. Because the book is always thickest right next to the price, on this scale the brightest band simply follows the price and covers the candles.
  • Relative removes that distance effect: every cell is divided by the usual book at the same distance from that bin’s traded price (the median over all shown time bins at about the same distance). 1× = normal for that distance, 4× = four times the usual book there. So a wall far from the price stands out even if it is smaller in dollars than the always-thick book next to the price. Where the book at a distance is usually almost empty, the cell is compared with a minimum level instead (the 10th percentile of the non-empty cells in the view), and the tooltip says so. It is a display only — no amount is changed or added, and the tooltip always shows the real USD next to the ratio.
• Colours: the default colormap Tide runs deep blue (usual) → white → orange → red (far above usual). Appearance has 30 colormaps, Low / Peak, gamma, opacity, styles (Classic = crisp cells, no blur), and layers (candles, wide outlined candles, volume bars, last price line, current book profile, biggest levels now).
• Controls: Venue (all 11 markets summed, or one market), Persistent walls (shows only liquidity that stayed at least 5 minutes on 1h / 6h, or for the whole time bin on longer ranges — this hides orders that flash in and out), Relative / Raw USD, Appearance and Full screen. Hover a cell to read its price row, time, OHLC, the resting USD (split by venue) and, in Relative, how many times the usual book it is. Scroll = zoom, drag = pan, double-click = reset.
• Full screen: the Full screen button (or the F key) opens the map with its price axis, book profile and legend on the whole screen; Esc, F or the button closes it. On iPhone it fills the browser window.
• Gaps: minutes with no recording (for example during a restart) stay empty as dark vertical stripes — nothing is filled in.
• How to read it: a bright band that stays in place while price approaches is liquidity that was really sitting there; a band that disappears before price gets to it was pulled.
• What it is NOT: not a support/resistance promise and not a forecast — a band can vanish at any moment.

2. Liquidity Tracker

Bids vs asks over time, the imbalance line and the bid/ask share near price.

• What it shows: bid liquidity vs ask liquidity of all venues over the range, where each order is weighted by its distance from that venue’s own best price. H 25 bp / H 100 bp is the half-life: an order this many basis points away counts half. Next to it, the imbalance (bid − ask) / total in %, and a table with the bid/ask share within ±0.25 %, ±1 % and ±5 % of price for the last minute.
• How to read it: H 25 bp focuses on the book right next to price; H 100 bp includes deeper orders. A positive imbalance means more resting bids than asks.
• What it is NOT: a lean in the book is not a direction call — the book can change in seconds.

3. Per-venue ladder

Resting USD per price row, split by venue (colour), asks above and bids below the reference mid.

• What it shows: resting USD per price row, averaged over the last recorded minute, with each bar split by venue. Rows on the wrong side of the current price (left over from earlier in that minute) are hidden.
• How to read it: see which venue a large level comes from — liquidity on one venue only is different from a level stacked on many.
• What it is NOT: not the live tick-by-tick book; it is a one-minute average.

4. Pull / stack near price

Gross USD stacked and pulled per row within ±1 % of price, and the net change, over 1, 5 or 15 minutes.

• What it shows: for each price row within ±1 % of price, the gross USD added (stacked) and removed (pulled) over the last 1, 5 or 15 minutes, all venues together, and the net change. Every book update counts, so near price the gross numbers are large.
• How to read it: a net positive row is where orders were building; a net negative row is where they were leaving. Rows marked with the target icon were traded through in the window — there a fill and a cancel look the same.
• What it is NOT: “pulled” does not mean cancelled for sure where price traded.

5. Persistent walls

Big resting levels listed once they end: price, side, maximum size, venues, how long they lived, when they were seen and whether price reached them.

• What it shows: big resting levels (at least the top 5 % of their side of the book) that lived at least 60 seconds, listed once they end: price, side (Bid / Ask), maximum size, venues that held it, how long it lived, when it was seen (UTC) and the outcome — Touched by price, Pulled before touch or Recording cut (the recording stopped — a restart or a new UTC day — while the wall was still there; it was not pulled). The header counts recorded walls, walls that lived 5 min+, and the share pulled before touch; Persistent only keeps the 5 min+ walls.
• How to read it: use it to see how often big walls near the market were actually reached, and how often they were removed before price got there.
• What it is NOT: a wall that is still standing appears only after it ends. A wall is context about the book, not a promise of support or resistance.

6. CVD per venue

Cumulative taker buys minus taker sells per venue, with taker buys, taker sells and net delta.

• What it shows: cumulative taker buys minus taker sells (CVD) for each venue over the selected range, plus a table of taker buys, taker sells and net delta per venue. A venue with no recorded trades in the window is listed as such.
• How to read it: compare where aggressive buying or selling happened — for example perp venues vs spot venues.
• What it is NOT: executed flow, not resting orders; it does not tell you what comes next.

7. Hyperliquid liquidation levels

Where real open positions of tracked Hyperliquid accounts get liquidated, ±10 % of price.

• What it shows: the real liquidation prices of open positions held by the Hyperliquid accounts Formion tracks (about the top 2,000 accounts), within ±10 % of price, refreshed every 10 minutes: price row, number of positions and notional, long vs short, with the snapshot time and mark price.
• How to read it: long and short liquidations are coloured separately (with their totals above the table); large rows show where tracked positions would be forced to close if price got there.
• What it is NOT: not a model or an estimate, and not the whole market — only the tracked accounts on Hyperliquid.

Free vs Pro

	Free	Pro / Institutional
Coins	BTC	BTC, ETH, SOL, HYPE
Range	Last 1 hour	Up to 30 days of recorded history
Panels	Resting liquidity map + Liquidity Tracker	All 7 panels

Locked coins, ranges and panels never leave the server for a Free account. See Pricing & Tiers.

FORA

FORA can read the Liquidity Map as context (the state of the book, which can be pulled) and quotes only the real recorded numbers — it never uses it as an entry, stop or target and never as a prediction. See FORA.

Related

• Data Hub — the other derivatives and order-flow pages.
• Order Flow & Microstructure — Order Flow, DOM Pro, Liquidation Map and Walls.
• Screener → Order Book — the book imbalance and walls for the top Binance perpetuals.